As cryptocurrencies grow in popularity, many celebrities are jumping on board.
Over the years, we’ve seen several celebrities like 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Serena Williams, Floyd Mayweather, Kanye West, and Mike Tyson invest or even endorse cryptocurrencies.
The world-famous rapper Snoop Dogg is one of the many celebrities who turned to crypto as an investment.
In fact, Snoop is one of the first celebrity ambassadors of cryptocurrencies.
Way back in 2013, Uncle Snoop released A reggae album called “reincarnated. During the promotion of the album, the rapper announced that he would be accepting payment in Bitcoin. At the time, the cost for the album was set at 0.3 Bitcoins.
Since then, Snoop Dogg has been one of the most vocal celebrities talking about crypto.
Snoop has said that cryptocurrency is a “wonderful industry”, with a lot of room for growth.
in his opinion, cryptocurrency is a “wonderful industry” with lots of opportunity and potential. He continued by saying that, in his opinion, the sector’s current swinging position is not permanent. He asserts that “there is always a depression in every business,” likening the current collapse of the cryptocurrency markets to that of the alcoholic, tobacco, fashion, and even food industries.
Snoop Dogg’s Take on The Crypto Winter
As a crypto investor for over a decade, Snoop Dogg has a firm belief that cryptocurrencies are gonna get over this long bearish period.
“I feel like every great industry has a downfall,” the rapper told CNBC. “There’s been a depression in every industry you can look at … alcohol, tobacco, clothing, food; every industry you can imagine.”
The rapper also said that the Crypto Winter served as a way to get rid of lurkers:
“This [crypto winter] weeded out all the people who weren’t supposed to be in the space and who were abusing the opportunities that were there,” Snoop Dog said. “Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from.”
Snoop Dogg’s Many NFT Ventures
The rapper is also a huge NFT enthusiast.
Since non-fungible tokens grew in popularity, Snoop Dogg is investing in the creation of what can only be described as an NFT empire.
Earlier this year, Snoop
Earlier this year, Snoop announced his plans to turn his record label “Death Row Records”, into an “NFT label.”
Soon after, one token from his first NFT collection, “Journey of the Dogg,” sold at auction for more than $100,000.
Snoop stated in September that he had used the alias Cozomo de’ Medici, an anonymous NFT art collector with a digital collection valued at over $17 million.
“I know [NFTs] have a great opportunity to be big in music, because sooner or later the labels are going to have to come on in,” Snoop told CNBC. “They’re going to have to come on home and sit at the table and understand that catalogs and things they hold onto are better served on the blockchain than sitting in the catalog collecting cobwebs.”