Snoop Dogg Earns $12 Million From Digital Collection on Telegram

American rapper and music producer Snoop Dogg has just launched his first celebrity digital gift collection on Telegram on Wednesday, with nearly 1 million items selling out in just 30 minutes, generating $12 million according to CEO Pavel Durov. "Snoop Dogg's digital collection on Telegram sold out in just 30 minutes, bringing in $12 million in revenue," Durov wrote on his official channel. "Nearly 1 million unique Non-Fungible Tokens, inspired by Snoop's distinctive style, were sold in record time." Snoop Dogg's collection was initially sold and internally recorded on Telegram and will be officially minted on the TRON blockchain at the end of July. "On-chain minting and secondary market will open in 21 more days. It will be explosive," Durov added. The news was first published by TMZ. Telegram and TRON blockchain have a close relationship – TRON was originally developed by the Telegram team before having to transfer the project due to legal pressures. Currently, TRON is the blockchain platform for Telegram's on-chain features, including digital collections, Web3 usernames, and payments for around 1 billion users. "@durov, it's time to 'drop it like it's hot'," Snoop Dogg posted on his official Telegram channel before the sale, referencing his famous song. He also released a short music video titled "Gifts" on YouTube to celebrate the event. The collection includes items such as vintage cars, swag bags, digital dogs, and cannabis-inspired items. Snoop Dogg is a familiar face in the Non-Fungible Token and crypto space, having accepted Bitcoin payments for an album since 2013. Under the alias "Cozomo de' Medici," he once owned a Non-Fungible Token collection worth $17 million and is known as a major digital art collector. He also launched "Snoopverse" on The Sandbox metaverse, released the "The Doggies" Non-Fungible Token collection, and performed with Eminem using a Bored Ape avatar at the 2022 MTV VMAs. This sale by Snoop occurs against the backdrop of a Non-Fungible Token market that has not yet clearly recovered from the significant decline since 2022, unlike other crypto sectors that have gradually recovered after the crypto winter.