Snoop Dogg Sells Out Nearly 1M NFTs on Telegram in 30 Minutes

American rapper Snoop Dogg sold out a collection of nearly a million NFTs on Telegram in just 30 minutes on Wednesday, challenging claims that the NFT market is fading. The collection, powered by the TON blockchain, featured around 996,000 NFTs “inspired by Snoop’s iconic style” and generated $12 million in sales, according to Telegram founder Pavel Durov. “Blockchain minting and the secondary market go live in 21 days. It’s going to be wild,” Durov shared on X, hinting at further activity and trading to follow. The collection featured a variety of digital items, including vintage cars, swag bags, marijuana-themed objects, and digital dogs. These Telegram Gifts are animated images users can display on their profiles or convert into Telegram’s in-app currency, Stars. The launch also included a new track titled “Gifts” and a music video from Snoop Dogg, showcasing the full lineup of collectibles. A Glimmer of Hope for the NFT Market Snoop Dogg’s successful drop arrives at a time when the NFT market has been experiencing a notable slowdown . Data from CryptoSlam shows NFT sales volumes dropped 61% in the first quarter of 2025 to $1.5 billion, compared to $4.1 billion a year earlier. Over the past 30 days, sales have fallen another 41% to $403 million, with transactions also declining by more than 55%. Despite these figures, social media platforms were quick to celebrate the collection’s success, with many calling it “legendary” and a bullish signal for the NFT market . An X user, Zenith, who leads NFT projects at TON, suggested that the positive reception to Snoop’s collection could mark “the start of a new NFT narrative,” although they also acknowledged it may not fundamentally change the market’s direction. Zenith highlighted that Telegram Gifts’ unique feature is allowing owners to wear them on their profiles, a utility that could attract other Web3 brands and IPs to explore similar launches on the platform. Snoop Dogg Continues His NFT Presence Snoop Dogg is no stranger to NFTs , having actively participated in the space since 2021. In June 2023, he launched the Snoop Dogg Passport Series, an NFT collection offering holders exclusive behind-the-scenes content. Earlier, in February 2022, he released the Doggies NFT collection in collaboration with The Sandbox metaverse, expanding his creative ventures into the digital asset landscape. As Snoop Dogg’s latest collection demonstrates, mainstream personalities continue to hold the potential to inject energy into the NFT space , even amid a broader market cooldown, offering a glimpse of possible rejuvenation within the sector. The post Snoop Dogg Sells Out Nearly 1M NFTs on Telegram in 30 Minutes appeared first on TheCoinrise.com .

Source: The Coin Rise