Rapper and music producer Snoop Dogg purchased an NFT for $3.9 million.
Snoop – whose real name is Calvin Cordozar Broadus Jr – has been quite active in the crypto and NFT spaces recently, with this purchase marking his latest venture into the industry.
Ciao, Cozomo de’ Medici
Earlier this week, rapper and music producer Snoop Dogg purchased an NFT for $3.9 million. Snoop – whose real name is Calvin Cordozar Broadus Jr – has been quite active in the crypto and NFT spaces recently, with this purchase marking his latest venture into the industry.
The NFT in question is “Some Asshole”, – a piece of art developed by rising artist XCOPY. Snoop had purchased the token on the SuperRare marketplace, under his pseudonymous alias “Cozomo de’ Medici.” The rapper tweeted this purchase through his alias’ Twitter account, adding that it was the first character piece NFT to be published by XCOPY.
Data from SuperRare showed that the NFT has moved between owners for about a year now. It was first sold for 25 ETH (about $8,200 at the time) in September 2020, then again in March for 100 ETH – about $181,000.
The sale marks the latest for XCOPY, whose art has become quite the in thing. Just last week, data from DAppRadar showed that a customer had spent 1,000 ETH – about $2.9 million at the time – on another piece from the artist, called “All Time High in the City.”
Celebrity Endorsements Pour in for NFTs
As for Snoop, the sale further cements the artist as a collector and crypto enthusiast. Snoop revealed himself to be Cozomo de’ Medici last week, much to the excitement of industry enthusiasts. The collector’s wallet currently holds a little over $17 million worth of NFTs, showing Snoop’s appreciation for digital art.
The rapper has been making waves in the NFT space for a while now. In April, he collaborated with the artist behind the famous 2011 Nyan Cat meme for an NFT collection, netting 14,3 ETH – about $33,000 at the time – in an auction on OpenSea. Additional open-edition NFTs of the collection – called “Nyan Blunt” and “Hazy Nyan Cat” – remained on sale for 0.42 ETH on April 20th – the day set aside to celebrate marijuana consumption and legalization. In total, the tokens sold over 200 collections, bringing in 90 ETH combined.
Celebrities moving into the NFT space has become a growing trend in the industry this year. Besides Snoop, several other notable people – and even some of the world’s top brands – have either launched or purchased NFTs directly from marketplaces.
Late last month, NBA superstar and 3-time champion Stephen Curry splurged 55 ETH on a Bored Ape Yacht Club NFT. The athlete spent a reported $180,000 on the piece, copping it from OpenSea. Curry has since signed a partnership with top derivatives trading platform FTX, with some reports suggesting that he might even have an ownership stake in the exchange.