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NFTs are non-fungible tokens and are a new form of investment that many people are now using, especially for new generations to begin using. The way NFTs are sold are through blockchains, where a blockchain is a database that is shared among a network through computers. Blockchains helps keep everything secure, while keeping transaction records. Blockchains allow digital information to be shared, but not edited. They also allow data that is held within a database to be spread to several networks in order to be seen. (Investopedia). NFTs are becoming popular, especially due to celebrities creating their own collections of NFTs, easily making fans have the urge to go and invest due to their role models taking action on something. This is also giving celebrities the chance to interact with their fans in a more unique, yet new way. What makes NFTs so interesting is that they are digital and do not exist whatsoever in real, present life.
There is a large number of celebrities that have joined the NFT world, but one that I found interesting is Snoop Dogg’s NFT collection. Snoop Dogg easily has a large and long-lasting fan base. Snoop Dogg released his own collection of NFTs in April of this year, which included “Snoop Dogge Coins”, as well as a “Nyan Dogg” NFT release that took place on 4/20, a day of the year that is heavily associated with the celebrity himself. From one source I have found and for you to learn an interesting fact, it seems as if Snoop Dogg has been identified to be CozomoMedici, who has been associated with $17 million and an account that hold 250 NFTs (Morris).
Furthermore, Snoop Dogg’s first NFT collection was called “A Journey with the Dogg” that demonstrates memories from his early years. It was said that some of the proceeds with go towards supporting young artists in Crypto space, as well at a youth football league that Snoop has founded himself. The drop of this NFT was only for a short 48 hours, so it made fans and people of interest very eager to be a part of such a limited time event that was connected to someone and something they enjoy. (Crypto).
What makes Snoop Dogg’s NFT collection so unique is not only did Snoop have his own collection that he dropped that was previously stated, but from my research of finding out more information about Snoop Dogg’s NFTs, I will introduce the idea again that Snoop Dogg happens to be behind and is Cozomo De’ Medici through the NFT world. That means that after Snoop Dogg tweeted that he is Cozomo on September 20th, 2021, this has now changed the game and perspective for others in the NFT environment and world (Dafoe). Some people are in complete shock, while others don’t believe that he is telling the full truth. To me, it seems like Snoop Dogg holds a low of power and connection towards and with NFTs, so regardless of the case, I now associate Snoop Dogg with NFTs, which is a strong and strategized statement right there. Snoop Dogg has his own NFT collections, while also hiding his identity for a while behind another name, profiting and having a very strong image with NFTs. These NFTs are becoming the next big thing for the investment world, and celebrities have already taken a big leap on changing the game for plenty of others. This digital artwork isn’t going anywhere anytime soon, except for the direction of up and growing.
Sources:
Conway, Luke. “Blockchain Explained.” Investopedia. Investopedia, November 4, 2021. https://www.investopedia.com/terms/b/blockchain.asp.
“Crypto.com NFT | Buy, Sell, Discover Exclusive Digital …” Crypto. Crypto. Accessed November 19, 2021. https://crypto.com/nft/drops-event/80b2e021d4cbfbc43789db5377ecf1ed.
Dafoe, Taylor. “Did Snoop Dogg Really Buy Crypto Artworks Worth $17 Million under the Moniker ‘Cozomo De’ Medici’?” Artnet News. Artnet News, September 29, 2021. https://news.artnet.com/art-world/is-snoop-dogg-the-nft-collector-cozomo-de-medici-2015266.
Morris, Chris. “Snoop Dogg Reveals Himself as NFT Kingpin Cozomo De’ Medici.” Fortune. Fortune, September 22, 2021. https://fortune.com/2021/09/22/snoop-dogg-cozomo-de-medici-nfts-crypto-wallet/.