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Hip hop star Snoop Dogg expands his crypto investment footprint with an NFT collection on the cardano blockchain

Hip hop star Snoop Dogg expands his crypto investment footprint with an NFT collection on the cardano blockchain

Snoop Dogg sits down with Roxanne Shante on SiriusXM's Rock The Bells Radio at The SiriusXM Studios on October 26, 2021 in New York City.
Snoop Dogg

Noam Galai/Getty Images for SiriusXM

  • Snoop Dogg launched an NFT collaboration with an exclusive metaverse project on the cardano blockchain.
  • Released on Monday, the project includes unreleased music and more, but this is just his latest crypto project.
  • Analysts said the this is the first incident of a celebrity crypto project jumping ship from ethereum to cardano.

Hip hop star Snoop Dogg is expanding his footprint in the crypto world again. This time, he’s teamed up with Clay Nation to launch an NFT collection on the cardano blockchain. 

Clay Nation is a collection of 10,000 digital NFT characters made of clay. The collection is currently sold out, but on the secondary market, the tokens boast a floor price of about 2696 ada, which is the equivalent of $2,623.03.

Clay Nation tweeted about the tie-up with Snoop Dogg — whose real name is Calvin Brodus — and crypto investor Champ Medici that will feature collectibles, unreleased music and plots of Clay Nation land. Last week, Snoop shared a Twitter space with cardano founder Charles Hoskinson and Medici, hosted by Clay Nation. 

During the conversation, Snoop Dogg suggested teaming up with Hoskinson to create a guide on getting involved in crypto.

“Me and you come together, put together some sort of visual piece on ‘how to’ from your perspective and my perspective, you know – you come from your angle on how you got involved and I come from my angle and then we’re taking care of the whole world,” the musician said.

The hip hop sensation has been involved in several NFT and crypto projects this year, as well as other tech investments.

“This is a remarkable milestone as this is the first celebrity to jump ship from Ethereum to Cardano, which is subsequently causing a lot of hype. NFTs are about brand and identity and Snoop Dogg is clearly having fun finding another identity outside of hip-hop – he released a music video a couple of weeks ago that was made entirely in the sandbox metaverse,” Marcus Sotiriou, analyst at GlobalBlock, told Insider.

Snoop Dogg was an early investor in social media platform Reddit and retail trading platform Robinhood. He also invested in Swedish payments company Klarna. These are just a couple of his higher-profile investments.

Most recently, the star joined a host of celebrities to invest in Moon Pay, a company that lets users purchase crypto easily via card or bank transfer. He’s also one of thirty seven investors, according to Crunchbase data, to invest in Yuga Labs, the team behind Bored Ape Yacht Club.

Notably, Snoop Dogg is one of the first celebrities that is involved in digital assets to branch out beyond the ethereum blockchain. Ethereum is certainly the most dominant platform for NFTs at present, but with the likes of solana and cardano continuing to develop and offer cheaper fees, this hegemony could be challenged. 

Read more: UBS lays out the 3 hurdles the economy must clear to avoid recession, as well as why fears of a housing bubble are overdone — and shares 6 things you should invest in amid the uncertainty

Read the original article on Business Insider

This content was originally published here.