American rapper Snoop Dogg has recorded significant success in the NFT market by selling nearly a million tokens in just half an hour.
Successful Start of the NFT Collection
Snoop Dogg sold a collection of around 996,000 NFTs inspired by his iconic style. Generating $12 million on Telegram, he challenged notions that the NFT market is fading. Telegram founder Pavel Durov stated, 'Blockchain minting and the secondary market go live in 21 days.'
Prospects for the NFT Market
Snoop's success comes at a time when the NFT market has seen a notable downturn, with sales volumes dropping by 61% in Q1 2025 to $1.5 billion compared to $4.1 billion a year ago. Over the past 30 days, sales have fallen by 41%. Social media users labeled this event as 'legendary,' marking it as a 'bullish' signal for the NFT sector.
Snoop Dogg's Ongoing Impact on NFTs
Snoop Dogg has been an active participant in the NFT space since 2021. In February 2022, he released the Doggies NFT collection in collaboration with The Sandbox metaverse. His latest collection shows that mainstream personalities can continue to inject energy into the NFT space, even amid broader market challenges.
Snoop Dogg's success with his NFT collection on Telegram highlights that interest in tokens remains strong despite current industry setbacks.
