YEREVAN (CoinChapter.com) — Snoop Dogg and the crypto sector meet one another once again. This time, they interact at the crossroads of Dogg’s marijuana addiction. What’s the whole story, and how strangely Dogg and the crypto sector interact over it? Let’s dwell.
Snoop Dogg’s Crypto Connection
Snoop Dogg, the High Priest of Hip-Hop, announced he plans to depart from smoking, the very thing he’s famous for, after the decades-long music career, of course.
However, let’s be serious for a second. The specifics of Snoop Dogg’s announcement raise several questions. It’s unclear what he meant exactly by “giving up smoke.”
This ambiguity leads to speculation about whether he’s quitting all cannabis products or just those involving inhalation. There are questions about whether this includes edibles, tinctures, hand creams, or vapes and where they fall on the spectrum of his announcement.
“What does the crypto community have to do with Snoop’s smoking?” one could ask. So, here it goes.
Crypto Community Bets
Loyal to the knack for monetizing any hype, the crypto community’s response was to launch a bet on Polymarket, a decentralized prediction market that allows you to speculate on the outcome of real-world events.
Naturally, the Snoop Dogg crypto bet revolved around the $420 million dollar question: Will Snoop Dogg light up again in 2023? This bet will stay lit until the stroke of midnight on New Year’s Eve.
In fact, Snoop and the crypto community go way back, before he became an ordinary non-smoking 52-year-old man… Let’s review, shall we?
Snoop Dogg NFT Collections
The Snoop Dogg crypto bet is not the only crypto-related activity when it comes to the rapper. His involvement in the cryptocurrency and NFT (non-fungible tokens) space is quite extensive. The rap star launched his own branded collectibles and collaborated with notable figures in the NFT space, like the creator of the famous meme Nyan Cat.
In September 2021, Doggfather revealed that he is the Ethereum NFT whale known as Cozomo de’ Medici, with a collection of cryptocurrencies worth $17 million. The Snoop Dogg NFT collection under this pseudonym includes nine CryptoPunks, among other valuable digital assets.
Snoop is also involved in several projects on different blockchain platforms. For example, the rapper launched an NFT collection called “Baked Nation” on the Cardano blockchain in 2022, a move that some saw as a shift in the NFT community’s preferences from Ethereum to alternative platforms like Cardano and Solana.
This collection and the choice of blockchain might have been a strategic move that generated media attention and speculation, not to mention — NFT sales.