In an interview with CNBC June 28th, Snoop Dogg, the well-known rapper answered questions on the cryptocurrency market crash. He said that he is convinced that the crypto sector will bounce back and do well. According to him, the crash took care of the bad apples, people who shouldn’t have invested at all
Snoop Dogg also said that he thinks the crash and the current market scenario is a passing phase. There is no reason for the ecosystem to stay depressed. Talking on the topic of NFTs, he said he was drawn to the collectibles ideas because of IP ideas and rights. The concept of owning and controlling a complete IP process by the owner and not a marketing company was a great idea. He believes that crypto is a beautiful tool and is glad that it had been created. Every market has its ups and downs, like the clothing, food and alcohol industries.
The crash has managed to get rid of people who should have invested from the industry and opportunity abuse is going to be much lower. Once the crypto sector bounces back, it will bring in the right investors and offer great choices. Snoop Dogg invested in BTC as far back as 2013. He says that every label in the music industry will eventually have to deal with NFTs. Snoop Dogg has the distinction of being among the first people in the music industry to accept payments in BTC for a studio album.
Snoop Dogg expressed his deep interest in the NFT sector and said that these would have a measurable impact on the industry. The sooner they get to the table and understand how the concept works on the blockchain, the better for everyone.