Snoop Dogg Breaks Records with $12M NFT Sellout on Telegram in Half an Hour

• Snoop Dogg made almost $12 million in profit after selling out his Non-Fungible Token (NFT) collection in 30 minutes. 
• In a music video of a track called “Gifts”, the American rapper showcased all the collectibles which likely appealed to users. 

American rapper Calvin Cordozar Broadus Jr., professionally known as Snoop Dogg, sold out a collection of almost a million NFTs on Wednesday, July 9, making nearly $12 million in profit. As detailed in our earlier post, Snoop Dogg completed these sales in just 30 minutes on Telegram.

Announcing this significant milestone, Telegram founder Pavel Durov highlighted that there could be further development and excitement within the NFT space as the blockchain minting and the secondary market are expected to go live after 21 days.

Already, the “NFT hype” seems to be coming back as Cboe files Form 19b-4 to launch Canary PENGU ETF, combining NFTs and meme coins, as indicated in our recent coverage. Binance Chain also seeks to improve its NFT experience with the Maxwell Hard Fork, which was recently explained by CNF.

The Snoop Dogg NFT Collection

According to reports, Snoop Dogg’s NFT collection included swag bags, vintage cars, marijuana related objects, digital dog, etc. Basically, these Telegram gifts exist as animated images that could be shown on profiles. Apart from this, they could also be converted into Stars, the platform’s in-app currency.

Our research shows that these 30-minute sales of the NFT collections were not by fluke, as Snoop Dogg showcased all the available collectibles in the music video of his latest track called “Gifts”. Meanwhile, an X user identified as Zenith who is associated with the TON blockchain, has clarified that Telegram gifts have been available since at least January. According to him, the unique utility of the Telegram gift could appeal to other popular brands to get on board.

For Snoop Dogg, this is not his first NFT experience. Reports suggest that he has been in the ecosystem since 2021. One of his previous engagements was purchasing the Bored Ape Yacht Club (BAYC) monkey. Later, he featured the monkey in a music video with Eminem. In 2023, he launched the Snoop Dogg Passport Series. Per the description, this was an NFT collection that gave holders access to exclusive content. In 2022, he partnered with the Sandbox metaverse to launch the Doggies NFT collection.

The NFT ecosystem was once projected to reach a valuation of $264 billion by 2032. Blockchain analytics firm DappRadar even disclosed that its trading volume in 2021 was reaching almost $3 billion. However, things took an unexpected turn as its volume in the first quarter of 2025 was only $23.8 million.

As discussed in our earlier news story, the overall sales dropped by 38.97% in January 2025. Regardless, Azuki NFTs solidified their position as one of the most popular NFT collections, soaring by 106% as highlighted in our previous publication.

Data also confirms that NFT trading volume declined by 20% in 2024 compared to the previous year. This was followed by an 18% decline in total sales. According to blockchain analyst Sara Gherghelas, 2024 was one of its worst-performing years since 2020.