Hip Hop legend Snoop Dogg released a nearly 1 million non-fungible token (NFT) collection on Telegram, which sold out in minutes. The launch created massive interest online and raised over $10 million in sales.<\/p>\n
On Wednesday, Snoop Dogg launched digital collectibles on Telegram<\/a>, igniting an NFT frenzy on the platform. The collection offered unique NFTs inspired by the rapper\u2019s style, including multiple marijuana-themed collectibles, anthropomorphic beagles, and vintage cars.<\/p>\n The drop is part of Telegram\u2019s Collectible Gifts, unique works of art on the platform that can be displayed on profiles and have special attributes. As the website explains, the collectibles can be transferred between users or auctioned on NFT marketplaces.<\/p>\n Telegram\u2019s founder, Pavel Durov, revealed<\/a> that the Snoop Dogg drop sold out in 30 minutes, selling 996,000 NFTs for $12 million, adding that \u201cBlockchain minting and the secondary market go live in 21 days. It\u2019s going to be wild.\u201d<\/p>\n Last week, Durov shared that the 4th of July-themed Gifts also sold out within minutes, with over 800,000 collectibles selling in 10 minutes.<\/p>\n Amid the collectibles\u2019 launch, the rapper promoted it alongside a new track titled \u201cGifts\u201d on his official Telegram Channel. He shared the link to the song\u2019s music video and tagged Durov\u2019s Telegram channel, saying, \u201ctime to drop it like it\u2019s hot.\u201d<\/p>\n In the track, Snoop Dogg shouts out Toncoin (TON), the native token of the TON Blockchain, and Telegram. \u201cPlug in my phone, get dressed, and then I plot my play \/ Critical existence, digital resistance \/ Shifted, gifted, and lifted \/ (\u2026) \/ Stickers and games on Telegram, guess it\u2019s coming soon \/ My privacy is not for sale,\u201d some of the lyrics read.<\/p>\n Notably, this isn\u2019t the rapper\u2019s first NFT venture, as he entered<\/a> the space when the sector first gained mainstream popularity in 2021 and dropped collections in 2022 and 2023.<\/p>\n On X, NFT lead at the TON blockchain, Zenith highlighted<\/a> the drop\u2019s success, as some of the supply gifts sold out in less than 2 minutes. He explained that Telegram gifts have had a peak market capitalization of over $200 million and a trading volume of $122 million since their launch.<\/p>\n According to the post, the first OG collection, the Plush Pepe, now has a floor price of 4,200 TON<\/a>, worth $11,886. \u201cThey are NFT Collectibles that are on the TON Blockchain and inside of Telegram!\u201d he noted.<\/p>\n To Zenith, this could be the start of a new NFT narrative, adding that they \u201cwould not be surprised if other famous brands or web3 IPs would want to launch some gifts too!\u201d However, they pointed out that it could also mean nothing for the sector.<\/p>\nNFT Mania Making A Comeback?<\/h2>\n