American rapper Snoop Dogg achieved remarkable success on the Telegram platform on Wednesday, selling out a series of nearly one million non-fungible tokens (NFTs) in just 30 minutes, strongly countering claims that the NFT industry is "dead."
Telegram founder Pavel Durov noted in a post on the X platform on Wednesday that Snoop Dogg's digital gift series, powered by the TON blockchain and containing approximately 996,000 NFTs, "draws inspiration from Snoop's iconic style," with sales reaching $12 million.
He further stated, "Blockchain minting and the secondary market will go live in 21 days. It will be exceptionally hot at that time."
The tokens in the series include vintage cars, fashion bags, digital dogs, cannabis-related items, and various other items and symbol combinations. Telegram gifts are dynamic images that can be displayed on profiles or converted into the in-app currency "Stars" on the social platform.
Snoop Dogg also released a new track titled "Gifts" and a music video showcasing all the collectibles.
Social media and YouTube users praised Snoop's collaboration with Telegram as "legendary," with some viewing the sellout of the series as a bullish signal for the NFT market, despite NFTs struggling this year with low trading volumes and sales.
In April of this year, Cointelegraph reported that NFT trading volume plummeted 61% in the first quarter of 2025, dropping from $4.1 billion in the same period last year to $1.5 billion.
CryptoSlam data shows that sales have fallen 41% in the past 30 days, just above $403 million, while the number of transactions has decreased by more than 55%.
Zenith, the head of NFTs at TON, pointed out in a post on the X platform on Wednesday that the original Telegram gifts are not a new concept, having existed since the launch of the "Plush Pepe" series in January of this year.
However, he speculated that the positive market response to the Snoop Dogg series "may mark the beginning of a whole new NFT narrative," although he also mentioned that "from a technical perspective, this may not represent any special significance."
Zenith stated, "Telegram gifts have the most unique utility value, which is the ability to display them on your Telegram profile."
He added, "If other well-known brands or Web3 IPs also want to launch some gifts, I wouldn't be surprised at all! Now, the question is whether they will do so? Honestly, I don't know, but I enjoy making such speculations."
Since NFTs first gained mainstream attention in 2021, Snoop Dogg has been active in the NFT space.
In June 2023, he launched the Snoop Dogg Passport series, an NFT series that promises exclusive content access, such as behind-the-scenes videos and photos, to holders.
Meanwhile, in February 2022, Snoop Dogg launched the Doggies NFT series as part of a collaboration with The Sandbox metaverse.
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Original article: “NFT Revival? Snoop Dogg's Telegram 'Gifts' Sold Out in 30 Minutes”
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