Quick Take:
- Snoop Dogg launches first NFT.
- The rapper teamed up with Coldie to release “Decentral Eyes Dogg”.
- The animated collage went live on SuperRare on Monday.
American rapper Snoop Dogg has collaborated with Coldie to launch his first non-fungible token (NFT). Last Thursday Snoop expressed his excitement on Twitter, calling it an evolving piece.
I am excited to announce DECENTRAL EYES DOGG. A collaborative 1 of 1 that @Coldie conceptualized and created in collaboration with me! This piece will evolve over time!Make Art n Make Change. The work will will be auctioned on @SuperRare and at Art Basel. https://t.co/LSalLMbF5L
— Snoop Dogg (@SnoopDogg) November 25, 2021
The rapper said blockchain technology played a big part in the decision to venture into NFTs.
“Over the last year I have become a collector, a creator and a collaborator of art on the blockchain,” he said in a statement. “This technology has inspired me to rethink how I work and release my art into the world.”
The animated collage is created using ten different portraits of Snoop Dogg, taken at different stages of his illustrious career.
The rapper said he was easily convinced by Coldie’s concept for the collage that also comes with themed lyrics from his recordings.
In reference to his input into the portrait, Snoop said, “I had to get in the lab and give it that personal touch. You don’t just see it, you feel it and you hear it.”
NFTs and the Music Industry
Digital collectibles have become an exciting business opportunity for the music industry. NFTs are digital certificates of authenticity for collectibles like art and tweets that allow creators and collectors to monetize their assets.
The NFT market has attracted celebrities from different segments of the industry, including actors and athletes. They give buyers ownership of the digital items they purchase, allowing them to trade them on various platforms.
NFTs have become an essential aspect of the music industry during the pandemic. With various travel restrictions preventing artists from going on tours and holding mass events, some musicians have turned to the NFT market to supplement their incomes.
And now, what started as a response to the pandemic, is becoming one of the most trending concepts of monetizing digital assets.
Industry experts think NFTs could be the ultimate solution to piracy in the music industry.
NFTs can only be sold by one person to another and cannot be replicated. This feature creates a sense of exclusivity to whoever owns them, thus reducing the rate of piracy on digital assets.
Conclusion
In summary, Snoop Dogg joins a growing list of artists that have ventured into NFTs to explore alternative ways of monetizing their talent. And based on his comments following the launch of the Decentral Eyes Dogg collage, there could be a lot more on the way from the popular rapper.
