Snoop Dogg sold nearly 1 million NFTs on Telegram in 30 minutes, earning $12 million, showcasing the enduring popularity of NFTs.
The NFTs were tied to the TON blockchain's digital gifts feature on Telegram, offering social utility by being displayable on profiles and exchangeable for Stars.
Snoop Dogg's collection was inspired by his lifestyle and included elements like vintage cars, marijuana, and digital dogs, alongside a Telegram-themed song.
The success of Snoop's NFT sale comes amidst a declining NFT market, pointing towards NFTs potentially moving beyond price speculation to emphasize their social integration and purpose.