Is the non-fungible token (NFT) market dead? Not according to Snoop Dogg. The rapper has just sold nearly a million NFTs in half an hour.
Snoop Dogg sells out his NFTs in half an hour
The news was announced by Pavel Durov, the founder of Telegram, as the TON blockchain was used to mint these non-fungible tokens. This is a joint promotion between Snoop Dogg and the messaging app, which has launched into Web3.
996,000 NFTs sold out in half an hour, proving the appeal of Snoop Dogg’s collection to buyers. The drop was accompanied by an exclusive track from the rapper, “Gifts.”
Snoop Dogg claims that his track is “the official Telegram track.” The video accompanying the music features Snoop Dogg’s NFTs, which unsurprisingly feature dogs, marijuana, and luxury cars.
$12 million in sales
The sale generated $12 million, bucking the general trend of declining NFT sales. This year, the non-fungible token market has been in decline, with the crypto community tending to turn away from it. In the first quarter of 2025, NFT volumes plummeted by 61%.
According to Pavel Durov, the secondary market for Snoop Dogg’s NFT collection will open in about 20 days. The NFTs are exchangeable for Telegram’s internal currency, “stars.”
Snoop Dogg is a big fan of NFTs, revealing in the past that he has invested in numerous collections. In 2022, he also launched a “Doggies” collection in partnership with The Sandbox. Will his collection help the market regain some of its momentum? That remains to be seen.
