NFT: Snoop Dogg’s new project has the potential to generate more than $125 million
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At 50, Snoop Dogg doesn’t seem to be slowing down anytime soon. The rapper recently acquired Death Row Records, the label originally co-founded by Dr Dre, and has just announced that he will turn it into an NFT label.
Less than a week after buying the brand from MNRK Music Group, Snoop took to Clubhouse and revealed his plans to bring Death Row into the metaverse.
Thus, the rapper said: “Death Row will be an NFT label. We’re going to take our artists through the metaverse and through a whole different channel of music.”
“The Metaverse’s First Major Label,” Claims Snoop Dogg
“Just as we revolutionized the industry by being the first indie label to go major…I want this to be the first major label in the metaverse, and for Death Row to become a NFT.”
Snoop Dogg also launched his latest album BODR (Bacc on Death Row) through the blockchain gaming platform Gala Games. Fans who were able to save $5,000 for the NFT “Stash Box” version of the album were rewarded with three bonus tracks.
These Stash Boxes are limited to 25,000 copies, and as of this writing, nearly 10,000 have been sold. This represents a total of nearly $50 million. If all 25,000 copies sell out, Snoop could rake in $125 million.
Blockchain technology has the power to change the game
Snoop Dogg told Rolling Stone magazine: “Blockchain technology has the power to turn everything upside down again and tip the scales in favor of artists and fans. With this agreement with Gala Music, we will be at the head of the pack.”
According to Gala Music, Stash Box holders can expect to receive “exclusive drops” such as movies, comics, images, and unique concert opportunities.
The platform also specifies that song NFTs will have “earning potential on the Gala Music network”.
“Owners of all 17 songs will receive huge real-life and digital rewards, including an exclusive concert and pre-party with Snoop, limited-edition Death Row props, and more,” Gala said on his website.
Snoop Dogg is no stranger to the world of NFTs and metaverse. Last December, the musician launched his own interactive world called Snoopverse, in which NFT user paid $450,000 to become his virtual neighbor. Additionally, last April, her A Journey With The Dogg collection launched on Crypto.com.
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