Snoop Dogg made nearly $12 million in profit by selling out his NFT collection on Telegram in just 30 minutes, showcasing various collectibles in a music video for a track called "Gifts".
The collection included items like swag bags, vintage cars, marijuana-related objects, and digital dogs, presented as animated images that could be displayed on profiles or converted into Stars on the platform.
Snoop Dogg's involvement in NFTs dates back to 2021, with previous projects like buying a Bored Ape Yacht Club monkey, launching the Snoop Dogg Passport Series, and collaborating with the Sandbox metaverse for the Doggies NFT collection.
Despite fluctuations in the NFT market, with trading volume declining in 2024 and overall sales seeing a drop, Snoop Dogg's successful NFT sellout highlights the ongoing potential and interest in the NFT space.