This week, rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the crypto currency economy will rebound. Snoop said he feels the crash “‘brought out’ all the people,” who at first didn’t have to be in space.
Snoop Says Crypto Crash Is Transitional and Great Choices Will Follow the Aftermath
Snoop Dogg thinks the current crypto crash is temporary and over time he believes the ecosystem will bounce back. Speaking with CNBC on Tuesday, the hip-hop recording artist discussed his current perspective on non-fungible tokens (NFTs) and cryptocurrencies.
Speaking of NFTs, Snoop said that what attracted him to the digital collectible spaces were the ideas of intellectual property (IP) and “being able to own and control the entire IP and not be used as a face or marketing tool … but actually to be. the owner, the CEO. “
When Snoop was questioned about the current crypto market, he responded by saying he doesn’t think it will last long.
“It’s a crypt … It’s a crypt, do you know that right?” Snoop jokingly asked the CNBC reporter. “I feel like it was a beautiful industry created. I feel like every big industry has a downfall, there’s always depression in every industry you could look at. Alcohol, tobacco, clothing and food,” the rapper added.
Snoop went on to note that he believes the crash is freeing the industry from bad apples. The recording artist and entrepreneur emphasized:
I just feel like this “ripped out” all the people who weren’t supposed to be in that space, and all the people who misused the opportunities that were there. Now it will bring great business, and going forward the market will have great things to pick and choose.
Hip-Hop Record Artist Entered Bitcoin Since 2013, Snoop Says Music Tags Will Have To Come To The Table When It Comes To NFTs.
Snoop is not only an early rap star in the music world, selling 35 million albums worldwide, he has also been in the digital currency space for a very long time. The hip hop artist was one of the first rappers to accept bitcoin (BTC) for payment to one of his studio albums.
In 2013, after releasing his 12th album under the reggae character “Snoop Lion”, Snoop explained that he wanted to accept. BTC for payments for his next album. “My next record available in bitcoin n delivered in a drone,” the rapper tweeted then. When Snoop tweeted about his interest in accepting BTCthe crypto companies Bitpay and Coinbase responded to the recording artist.
The musician responded to both companies and realized that if they messageed him directly, he wanted to make it happen. No one is exactly sure how many albums the rapper sold BTCalthough, one bitcoin address (de Snoop’s old QR code) suggests that the rapper only received about 0.01245982 before abandoning the idea.
During his interview on Tuesday, Snoop was asked about his interest in NFTs and he said he knows NFTs will be big in the music industry because sooner or later the labels will have to jump in.[The labels] will have to come home. They will have to sit at the table and understand that their catalogs and things they keep are better served on the blockchain, [rather] than sitting in the catalog collecting cobwebs, ”said Snoopy.
While the Snoop Death Row Records label accepted NFTs, the rapper was asked if other record labels had come to Snoop for cryptic advice. “All of them,” Snoop claimed and the Web3 entrepreneur known as Champ Medici also responded and said it wasn’t just record labels. “Kill studios, tech companies, beverage companies are all rushing to Web3,” Medici told the CNBC reporter.
What do you think of rapper Snoop Dogg’s opinion on the crypto currency space and NFTs? Let us know what you think about this topic in the comment section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or support of any products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.