Snoop Dogg Shatters NFT Doubters with $12M Mega-Sellout

Drop the mic—NFTs just got a celebrity lifeline.

Snoop Dogg's latest drop didn't just move units—it vaporized them. The $12 million sellout proves Web3's pulse is stronger than crypto Twitter's doomscroll.

Death of NFTs? More like a coma interrupted.

Wall Street analysts—busy calculating their third yacht payment—somehow missed that cultural capital still drives valuation. Again.

TLDR

• NFT sales reached $2.82 billion in first half of 2025, down 4.61% from late 2024
• Trading volumes dropped 45% in Q2 2025 to $823 million despite increased sales counts
• Snoop Dogg sold out 996,000 NFTs on Telegram in 30 minutes generating $12 million
• Lower prices making NFTs more accessible while transaction numbers remain stable
• Market experts say declining volumes indicate healthier, more sustainable NFT ecosystem

The NFT market delivered mixed signals in the first half of 2025, with overall sales declining while high-profile launches continued to generate strong interest. Data from multiple sources reveals a complex picture of an evolving digital collectibles landscape.

Global NFT sales volumes reached $2.82 billion in the first half of 2025, representing a 4.61% decrease from the $2.96 billion recorded in the second half of 2024. CryptoSlam data shows the market started strong with $1.59 billion in first-quarter sales before cooling to $1.24 billion in the second quarter.

January emerged as the strongest month with $679 million in sales volumes. However, June saw a sharp drop to $388 million, reflecting a broader downward trajectory through the second quarter of 2025.

The data encompasses both primary and secondary NFT sales across various blockchains. Primary sales represent the first time an NFT is sold, typically when minted by creators, while secondary sales cover subsequent resales.

Transaction activity remained relatively stable throughout the period. Monthly transactions ranged from 4 million to 6 million, with average NFT sale values staying between $80 and $100.

Trading Volume Declines Continue Multi-Quarter Trend

DappRadar data reveals a more pronounced decline in trading volumes. The second quarter of 2025 saw trading volumes drop 45% to $823 million compared to the previous quarter’s $1.5 billion.

This decline continued a trend that began in 2024, with consistent quarterly decreases in both trading volumes and sales counts. DappRadar’s trading volume data measures total transaction values across trading platforms and decentralized applications.

Despite lower trading volumes, Q2 2025 broke the negative trend for sales counts. The quarter recorded 12.5 million NFT sales transactions, representing a 78% increase compared to the previous quarter.

DappRadar analysts noted this divergence suggests NFTs are becoming more affordable while interest in digital collectibles persists. Lower individual sale values combined with higher transaction counts indicate broader accessibility.

Industry Experts See Healthier Market Dynamics

Aubrey Terrazas, vice president of marketing at NFT platform Rarible, views the declining volumes as positive market evolution. He told Cointelegraph the changes reflect a healthier, more sustainable market structure.

“We’re moving past pure speculation into real utility and community-driven projects,” Terrazas explained. “Prices have normalized, but interest and innovation remain strong.”

Terrazas attributed the higher sales counts and lower dollar volumes to growing accessibility and affordability. He cited multichain growth and emerging ecosystems as key factors driving these changes.

The market appears to be transitioning from its previous HYPE cycles into a more mature phase. Terrazas emphasized that demand for digital assets remains strong, with NFTs powering real go-to-market strategies for partners building communities and revenue streams.

Snoop Dogg Launch Generates $12 Million in 30 Minutes

American rapper Snoop Dogg provided a counterpoint to declining market trends with a successful NFT launch on Telegram. His digital gift collection of 996,000 NFTs sold out in 30 minutes on Wednesday, generating $12 million in sales.

🎤 @SnoopDogg’s digital collectibles drop on Telegram sold out in just 30 minutes today, generating $12M in sales. Nearly 1M unique NFTs inspired by Snoop’s iconic style. Blockchain minting and the secondary market go live in 21 days. It’s going to be wild. pic.twitter.com/DeinT5C2f4

— Pavel Durov (@durov) July 9, 2025

The collection launched on the TON blockchain and featured vintage cars, swag bags, digital dogs, marijuana-related objects, and other items inspired by Snoop’s iconic style. Telegram founder Pavel Durov announced the launch WOULD include blockchain minting and secondary market access in 21 days.

Telegram Gifts are animated images that can be displayed on user profiles or converted into the platform’s in-app currency called Stars. The launch included a new track titled “Gifts” and a music video showcasing the available collectibles.

Social media users described the collaboration as “legendary” and viewed the sellout as a bullish sign for NFTs. The launch occurred despite broader market struggles with tepid volumes and sales throughout 2025.

CryptoSlam data shows NFT sales volumes have dropped 41% in the last 30 days to over $403 million, with transactions falling more than 55%. April data indicated NFT volumes plunged 61% in the first quarter of 2025 to $1.5 billion compared to $4.1 billion the previous year.