- Snoop Dogg has become a key figure in the NFT and Metaverse space over the last year.
- He just released a set of NFTs for his new album and has already made $50 million since release. He also said that he wants to make Death Row the first major label in the Metaverse.
- Many artists are likely to follow a similar path as Snoop Dogg, and his journey should inspire others.
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In the space of a few months, Snoop Dogg has become a mainstay of the Metaverse. We explain what it could mean for other artists.
How Snoop Dogg embraced the metaverse
Snoop Dogg has caused quite a stir in the music industry in recent weeks, and not just because of his Super Bowl halftime performance alongside Dr. Dre and a host of other GOATs.
The biggest news that probably has music moguls around the world scratching their heads right now is the release of Snoop’s BODR (Back On Death Row). On February 11, he released his new LP through Gala Games, offering 25,000 NFT “hidden boxes” that allowed fans to own one of the 17 tracks on the disc. They were priced at $5,000; It’s already made over $50 million and it’ll get another $75 million if it’s sold.
Along with the album’s release, Snoop also bought Death Row, the legendary hip-hop label that started its career in the early ’90s, later announcing that he wants to make it NFT’s first major label. “Just like when we broke the industry when we were the first independents to go major, I want to be the first major in the Metaverse.” a call from the clubhouse.
Of course, while these are pretty important developments, it’s not like any of this Web3 stuff is new to Doggfather. It has dropped a bunch of NFTs over the last year, perhaps the most notable this collaboration with Coldie selling for $750,000 around the top of Ethereum in November 2021. Just this week, he released a collection of Snoop-style “Doggie” avatars on The Sandbox, a popular Metaverse world that has become the mine virtual real estate gold in recent months. (Snoop and others own Sandbox parcels; someone spent $450,000 on a neighbor.) After building a reputation for his stash of top-tier NFTs, he also claimed to be the pseudonymous digital art collector Cozomo de’ Medici, though the rumor was quickly debunked.
While Snoop is now indisputably a mainstay of the Metaverse, it’s important to note that he didn’t start out this way. At first, he dipped his toes by dropping some NFTs. Then he saw the power of technology, started collecting his own, and now seems to be totally into it. This kind of journey is pretty typical for most people in crypto, so I’m sure we’ll see more Snoop Doggs of music. and the entertainment world will double down on the Metaverse for years to come, especially once they find out about the success of his latest album. Just this week we saw Warner Music joins Splinterlands, and Universal Music recently launched a supergroup Bored Ape. Expect much more of the same in 2022 and beyond.
In 2021, we saw countless artists experiment with minting their own collections on Ethereum. Yes, some of them were undeniable cash grabs, but some will catch the bug and stick around. In fact, just a couple of weeks ago we saw Justin Bieber pumping out his Bored Ape and In betweeners NFT bags to his 220 million Instagram followers. Paris Hilton has also become one of the space’s advocates after becoming increasingly involved in NFTs over the past year; last month, she and Jimmy Fallon shilled his Bored Monkeys on the show tonight (and probably contributed to the price floor increase that followed).
The lesson here is to buckle down, because even as Ethereum experiences a downward trend, the overall adoption of the Metaverse is not slowing down. While many celebrity-backed NFTs have failed, the likes of Snoop Dogg are drawing more eyes to the space, and that’s definitely a good thing.
Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies.
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