Snoop Dogg’s Digital Collectibles Generate $12M in 30 Minutes – NFTs Making a Comeback?

American Rapper Snoop Dogg’s newest NFTs collection achieved a complete sellout within 30 minutes, accumulating more than $12 million in sales via Telegram.

Telegram’s founder, Pavel Durov, celebrated the achievement on July 9, announcing that blockchain minting capabilities and secondary market functionality would launch on the platform within 21 days.

According to Durov, nearly one million unique NFTs inspired by Snoop’s distinctive aesthetic have already been purchased.

@SnoopDogg’s digital collectibles drop on Telegram sold out in just 30 minutes today, generating $12M in sales. Nearly 1M unique NFTs inspired by Snoop’s iconic style. Blockchain minting and the secondary market go live in 21 days. It’s going to be wild. pic.twitter.com/DeinT5C2f4

The collection featured various digital assets, including “Doggs” that mirror the rapper’s likeness, priced at 200 Telegram stars each, with more than 600,000 units sold.

Snoop’s signature cigar NFTs commanded 1,000 stars per piece, moving over 120,000 units. Additional collectibles, including cars and swag bags, each recorded sales exceeding 250,000 units.

The rapper has promoted the Telegram NFT initiative through an official music video shared with his more than 10 million YouTube subscribers.

Where yall at? Official @telegram song music video https://t.co/4IyGHlv5SL

Telegram simultaneously notified its user base of over one billion about the NFT gift drops.

Since Snoop Dogg joined the TON ecosystem in May, NFT activity has surged, particularly on the Telegram-based blockchain.

The Telegram NFT Gifts market capitalization reached $200 million in June, accompanied by daily trading volumes exceeding $8 million.

Data from Dune Analytics indicates that over 118 Telegram NFTs have been issued, with more than 263,000 unique wallets participating in trading activities.

Recent collectible launches have demonstrated even significant demand. On July 4, Crystal Eagles’ digital collectibles sold more than 15,000 pieces at $100 each within 45 seconds.

Additionally, 300,000 Statues of New York Liberty sold out in under five minutes, while 500,000 Liberty Torches were purchased within 10 minutes.

This is only the beginning… $TON pic.twitter.com/6OdibhaiTX

Current market data indicate that the Telegram gifts market cap is $146 million, with NFT sales generating a total revenue of over $49 million.

These developments have led industry observers to speculate that the TON blockchain may be catalyzing a revival of the NFT market, which experienced a significant downturn following its peak in 2022.

The credibility of TON’s NFT ecosystem received a boost on June 19 when the original Bored Ape Yacht Club (BAYC) announced plans to launch its Bored Ape Originals sticker pack collection on Telegram.

This announcement carries substantial weight, given BAYC’s market prominence. In 2022, individual BAYC NFTs sold for as much as $646,717.50 (250 ETH at the time).

this BAYC just sold for $646,717.50 (250 ETH)

would you rather be the buyer or the seller? pic.twitter.com/KHbK5foZym

Other prominent digital collections, including Pudgy Penguins, Doodles, and Moonbirds, have also expressed interest in deploying NFT sticker collections that preserve their distinctive brand aesthetics.

According to CoinGecko data, the global NFT market is currently valued at approximately $3.7 billion, with 24-hour sales volume reaching $4.3 million.

These figures surpass the August 2021 levels, when NFTs first gained mainstream attention.

However, Ethereum-based collections, such as CryptoPunks and Bored Ape Yacht Club, along with Solana-based projects like Pudgy Penguins, continue to dominate the NFT market.

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