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Snoop Dogg’s NFT drop on Telegram sold like hotcakes: $12 million in 30 minutes

Published by Tetiana Nechet

From 2022 NFTs are considered dead. But sometimes they still show signs of life. First, the legendary NFT project Bored Ape Yacht Club (BAYC) by Yuga Labs has launched its Telegram channel. Later, the famous rapper Snoop Dogg organized a drop of NFT gifts. They sold out in the first 30 minutes, raising $12 million from initial sales.

Many NFT projects rely on separate applications or marketplaces. By placing everything on one platform, Telegram has lowered the entry barrier for ordinary users. At one time, it also launched cryptocurrency tokens Notcoin (NOT), which contributed to the emergence of hundreds of imitator games.

Snoop Dogg collectibles include five unique items: 12,000 units of Westside Sign priced at 10,000 stars ($150), 24,000 units of Low Rider priced at 5,000 stars ($75), 120,000 units of Snoop Cigar priced at 1,000 stars ($15), 240,000 units of Swag Bag priced at 500 stars ($7.50), and 600,000 units of Snoop Dogg Collectible priced at 200 stars ($3.00). These items are already appearing on secondary markets on the TON blockchain.

Source: Pavel Durov