Snoop Dogg’s Telegram NFT Drop Sells Out in Just 30 Minutes – Crypto Craze Hits New High
When Snoop Dogg drops NFTs, the market listens—and wallets open. The rap legend’s latest Telegram-based NFT collection vanished faster than a backstage joint at a hip-hop show, selling out in a blistering half-hour.
The frenzy: Status symbols meet blockchain
No presale, no whitelist—just pure FOMO. Fans and flippers alike scrambled for a piece of Snoop’s digital legacy, proving yet again that celebrity-backed NFTs can mint money faster than a Fed printer.
The cynical take: Another win for hype over utility
Let’s be real: the ‘value’ here isn’t in some groundbreaking tech or utility. It’s the crypto equivalent of paying six figures for a designer logo—except this time, the logo lives on a blockchain and your accountant can’t deduct it.
Some NFTs "continue to thrive"
With the broader NFT market having cooled since its 2021 highs, and NFT shutting down one after another, the collection was more than just another celebrity drop—it shows that NFTs aren’t entirely dead, according to analysts.
“While the NFT market has indeed lost momentum compared to its peak, certain categories continue to thrive,” Ryan Yoon, senior analyst at Tiger Research, told Decrypt.
Observers say categories like airdrop NFTs and utility-based collectibles have continued to find traction, with Snoop’s collection appearing to straddle both.
Given the sale’s performance, the feat represents “more than a simple collaboration,” Yoon said. “It’s the result of aggressive, multi-channel marketing execution,” and operated by “channeling attention and driving demand.”
Early this month, Telegram crossed a major milestone as The Open Platform (TOP), the infrastructure builder behind The Open Network (TON) blockchain, surpassed a $1 billion valuation, driven by rising adoption of mini apps, wallet integrations, and NFT activity within the app.
On Telegram, NFTs are used directly in-app and can be gifted “within its social ecosystem,” a factor that’s helped push it as a “hub for the ‘degen’ community,” Yoon said.
That design choice, in particular, “creates genuine value propositions through features like custom stickers and profile customization,” and positions Telegram as “a viable market for functional NFT applications,” he added.
