Snoop Dogg’s Telegram NFT Drop Generates $12M in 30 Minutes
Snoop Dogg's digital collectibles on Telegram sold out in 30 minutes, earning $12M, marking a milestone for NFTs on Telegram.
Quick Take
Summary is AI generated, newsroom reviewed.
Snoop Dogg’s Telegram NFT drop generated $12 million in 30 minutes.
Nearly 1 million NFTs were sold, leveraging Telegram’s TON blockchain technology.
The event challenges the post-2022 decline in the NFT market.
Snoop’s ongoing crypto involvement positions him as a leading figure in the space.
In a span of only 30 minutes, the digital collection drops of Snoop Dogg created on Telegram earned 12 million dollars. NFT sales during the event also reached about 1 million, built on his trademark style. The drop was based on Telegram TON blockchain, which was based on Telegram 2017 project abandoned. The sale is one of the significant milestones of Telegram entering the NFT market.
The shard technology of TON blockchain reached fast and scalable transactions. The invention promotes the Telegram goal of registering half a billion users by 2028. The success of the sale heralds a solid entry of Telegram into the NFTs, which is a competitive market. The minting and secondary market of the blockchain will go live in a few days meaning that collectors are excited about them.
Telegram’s Entry into the NFT Market
The NFT drop by Snoop Dogg is an answer to the market crisis in the NFT sector in 2022. Snoop has been in the crypto world long enough. He has his own NFT collection of 17 million dollars that he has called Cozomo de Medici only serves to cement his role in this field. This NFT sale marks a trend to high-frequency collectible sales over utility based NFTs. The influence of the celebrities in the crypto market is in the success of Snoop. Mostly, in marketing such a huge amount of digital art.
Follow us on Google News
Get the latest crypto insights and updates.
