Snoop Dogg’s NFTs Sell Out on Telegram, Raise $12M

Snoop Dogg’s digital collectible drop on Telegram sold briskly, achieving $12 million in 30 minutes.

The sellout demonstrates Telegram’s NFT platform’s potential and may spur activity on the TON blockchain.

Snoop Dogg’s NFT Telegram Success: A $12M Milestone

Nearly one million NFTs inspired by Snoop Dogg’s signature style were snapped up on Telegram in less than an hour, as announced by Pavel Durov. Sales totaled $12 million, highlighting widespread interest. Blockchain minting and a secondary market launch are scheduled in 21 days, likely increasing platform engagement.

The immediate implications of this quick sellout indicate a growing appetite for celebrity-backed NFTs on Telegram. Interest is expected to heighten with the official introduction of the secondary market on the TON blockchain, potentially driving increased trading volumes and market attention.

Pavel Durov, Founder of Telegram, stated: “Today, the digital collectibles released by rapper Snoop Dogg on Telegram went on sale and sold out in just 30 minutes, with sales reaching 12 million US dollars. Nearly 1 million unique NFTs inspired by Snoop Dogg’s iconic style were snapped up in a very short time. In 21 days, blockchain minting and the secondary market will be officially launched, which will surely be very lively.”

TON Blockchain Anticipates NFT Market Expansion

Did you know? A previous drop by Snoop Dogg, The Doggies NFTs, sold via The Sandbox platform, similarly generated rapid sales and increased market excitement.

Toncoin (TON) is trading at $2.87 with a market cap of $7.08 billion, according to CoinMarketCap. The 24-hour trading volume is $182.10 million, marking a 16.20% change. Though the 30-day price fell 13.16%, there’s a 2.04% uptick in the last 24 hours.

Coincu research highlights the broader financial and technological potential of Snoop Dogg’s NFT sales on the TON blockchain, predicting increased engagement as minting and a secondary market rollout approach with elevated trading expected.