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On July 9, 2025, Snoop Dogg, the iconic American rapper and Web3 enthusiast, reignited excitement in the non-fungible token (NFT) market by selling out a collection of nearly 996,000 digital collectibles on Telegram in just 30 minutes, generating $12 million in sales. Powered by The Open Network (TON) blockchain, the “Telegram Gifts” drop, featuring items inspired by Snoop’s signature style—vintage cars, swag bags, digital dogs, and marijuana‑themed assets—has defied a sluggish NFT market. With sales volumes down 67 % in June 2025 and a 61 % plunge in Q1 compared to the prior year, this blockbuster launch has sparked debate: could Snoop Dogg’s success signal a broader NFT resurgence? This article explores the details of the sale, its innovative features, and the crypto community’s mixed optimism about the return of NFTs.
The Snoop Dogg NFT Drop: A Record‑Breaking Success
Snoop’s “Telegram Gifts” collection, launched via Telegram’s in‑app “Send a Gift” feature, offered 996,000 NFTs across five tiers, priced from 200 to 10,000 TON tokens ($3–$75). The top tier (“Westside Sign”) included 12,000 NFTs, while the largest tier comprised 600,000 lower-priced tokens. The drop sold out in 30 minutes, confirmed by Telegram founder Pavel Durov, raising $12 million. Minting and secondary market trading begin in 21 days, coinciding with the release of Snoop’s new track “Gifts.” NFTs can be displayed on Telegram profiles or exchanged for Stars (Telegram’s in‑app currency), adding social and interactive utility.
The NFT Market’s Struggles: A Grim Backdrop
NFT markets have cooled sharply: June 2025 sales fell 67 % to $403 million (CryptoSlam); Q1 sales dropped 61 % year‑over‑year to $1.5 billion (DappRadar). Even high-profile brands like Nike have stumbled. Snoop’s sellout challenges narratives of an NFT market collapse by showing that celebrity-backed, utility-focused drops can still generate demand.
Why Snoop’s Drop Stands Out
- Celebrity Power: A Web3 veteran since 2021, Snoop (aka Cozomo de’ Medici) has prior NFT success, including a $17 million BAYC portfolio.
- Telegram’s Reach: With 900 million users, Telegram’s integration with TON blockchain facilitates seamless user interaction and NFT display.
- Social Utility: Telegram gifts aren’t standalone art—they’re profile wearables convertible to Stars.
- Marketing Flair: A music video and social media hype tied to “Drop It Like It’s Hot” fueled engagement.
TON’s NFT lead called the drop a “new NFT narrative.” The success complements other utility-heavy projects like Peaq’s machine NFTs and game/AI-linked use cases.
Community Reaction: Optimism and Caution
Reactions on X (formerly Twitter) were mixed: excitement for mass-appeal NFTs, but skepticism persists. Some call it a “high-frequency NFT model” built on vibes, not utility. Telegram’s NFT ecosystem—already second in volume to Ethereum—may expand with brands joining. But others caution it might be a one-off tied to Snoop’s fame, not proof of a full market revival.
Could This Spark an NFT Revival?
This launch arrives when NFTs are evolving from art collectibles to gaming, AI, and social tools. With BAYC and Azuki already using Telegram, deeper integration may come. ETFs like Cboe’s Canary PENGU and NFT-chain forks suggest institutional interest—in theory. But macro risks, regulatory pressure, and volume outlook still cloud expectations.
Looking Ahead
The late-July secondary market launch will be key. If trading volumes surge and other brands deploy social-use NFTs on Telegram, Snoop’s drop may mark an inflection point. For now, the $12 million sellout proves that utility‑driven, celebrity-backed NFT projects can still capture mainstream attention—and “drop it like it’s hot” once more.
This article reflects the opinions of the publisher based on available information at the time of writing. It is not intended to provide financial advice, and it does not necessarily represent the views of the news site or its affiliates. Readers are encouraged to conduct further research or consult with a financial advisor before making any investment decisions.
