Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

Key Points

1. Snoop Dogg sold approximately 996,000 NFTs on the TON blockchain within 30 minutes, generating $12 million in sales.

2. The NFT collection integrates with Telegram Gifts, allowing users to display NFTs on profiles or convert them into Telegram’s in-app currency, Stars.

3. The launch defies recent trends of declining NFT sales volumes, which saw a 41% decrease in sales volume and a 55% decline in transaction counts over the past 30 days.

4. Snoop Dogg’s involvement in NFTs dates back to 2021, with previous projects like the Snoop Dogg Passport Series and the Doggies NFT collection in collaboration with The Sandbox metaverse.

5. The success of this launch could signal a turning point for the NFT market, driven by innovative utility and celebrity influence.