Snoop Dogg is perhaps the most prominent celebrity taking to Web3 – cryptocurrencies and NFTs. The American rapper has also made private investments in fintech companies like Robinhood, MoonPay, and Klarna among others. He co-founded Casa Verde Capital, a Los Angeles-based VC fund.
Snoop believes NFTs have a great opportunity to be big in music. He said sooner or later, the labels are going to have to come on in. The songwriter said they are 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. Cordell Broadus, a.k.a. Champ Medici, also said that it’s more than labels. He outlined that there are movie studios, tech companies, and beverage companies – they are all rushing to Web3. They also know how big Dogg is in the space.
In regards to the latest crypto market crash and crypto winter, Snoop said every great industry has a downfall. He highlighted that there has been a depression in every industry – alcohol, tobacco, clothing, and food among others. The rapper believes that the crypto winter weeded out the people who weren’t supposed to be in the space and who were abusing the opportunities that were there. Snoop Dogg says when the market peaks up, there will be a great business moving forward.
Despite the market downturn, the celebrity’s enthusiasm hasn’t dampened. In fact, he has become keener and is looking at the metaverse as well. Snoop recently collaborated with gaming platform The Sandbox to sell “The Snoopverse Early Access Pass”. It gives buyers access to experiences in The Snoopverse – Snoop Dogg’s own branded world within The Sandbox platform.