July 11, 2025
Snoop Dogg’s latest NFT launch hints at a major shift in the market.
Snoop Dogg is continuing his business venture in the NFT space with his latest digital partnership that sold out in minutes.
On June 9, the iconic hip-hop mogul partnered with cloud-based messaging app Telegram to debut the platform’s first-ever celebrity digital gift drop, TMZ reports. The launch saw an “unprecedented” response, with nearly a million non-fungible tokens (NFTs) sold on Telegram in just 30 minutes.
The success counters the prevailing narrative that the NFT market is “dead.” To amplify the launch, Snoop dropped a new track called “Gifts,” accompanied by a music video showcasing the full lineup of digital collectibles, including a vintage car, swag bags, a digital dog, cannabis-themed items, and a variety of other symbols.
Following the launch, Telegram founder Pavel Durov took to X to boast about the $12 million made from Snoop’s latest NFT drop. According to Durov, the collection was “inspired by Snoop’s iconic style.”
“Blockchain minting and the secondary market go live in 21 days. It’s going to be wild,” he added.
The Gifts Snoop just sold out of on Telegram are animated visuals users can showcase on their profiles or convert into the platform’s in-app currency, Stars. While the feature is gaining traction, the broader NFT market has struggled in 2025, with volumes dropping 61% in Q1 to $1.5 billion, down from the $ 3.8 billion it generated the year prior. Over the past 30 days alone, sales volume has declined by another 41% to just over $403 million, with transactions down by more than 55%, according to CryptoSlam.
However, Snoop’s sold-out NFT drop may signal a shift in the market. An X user, who leads NFT strategy at TON, pointed out that Telegram gifts aren’t entirely new; collections like “Plush Pepe” were released in January. Still, they noted the overwhelming response to Snoop’s collection “could be the start of a new NFT narrative,” while also acknowledging that “technically it could not mean anything” long-term.
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