Rapper Snoop Dogg has launched nearly 1 million animated “digital gifts” on Telegram’s TON Blockchain, which sold out in just half an hour, defying claims that the non-fungible token (NFT) market is dead.
Named “inspired by Snoop’s iconic style”, the collection featured items like vintage cars, swag bags, a digital dog, and cannabis-themed visuals. The drop brought in a staggering $12 million, as shared by Telegram’s founder, Pavel Durov, on X (formerly Twitter). He also mentioned that blockchain minting and a secondary marketplace for the tokens will go live in about 21 days, hinting that even more excitement may follow, according to Cointelegraph.
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These NFTs double as animated emojis—or “gifts”—which users can wear on their Telegram profile or convert into in-app “Stars.” To amplify the launch, Snoop also debuted a track and music video titled “Gifts,” showcasing all the collectibles.
Snoop Dogg has a fairly long history with NFTs. He first joined the space in 2021 and later released the Passport Series in 2023 and “Doggies” with The Sandbox in 2022. His Telegram drop highlights how celebrity-backed, utility-focused NFT projects can breathe new life into a struggling market.
Trump-Sponsored Crypto Project Nears Market Decentralisation
World Liberty Financial, a crypto project sponsored by US President Donald Trump and his sons, is having a vote to determine if its governance token, WLFI, will be tradable. The vote began on July 9 and will end on July 16. To date, almost all the involved votes favour the motion.
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When approved, the adjustment will enable WLFI token holders to exchange the token on decentralised exchanges and via peer-to-peer platforms. Tokens locked by the founding team, such as those belonging to the Trumps, however, will stay locked for the meantime.
The project, initiated in 2024, raised more than $500 million and originally had a closed governance model. The proposal is considered a step towards a more decentralised system, providing token holders with a voice on matters like token emissions, incentives, and treasury management.
According to Cointelegraph, early buyers of WLFI could get access to their tokens immediately, but others could have a phased release, subject to a future poll.
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US Bitcoin ETFs Reach $50 Billion Mark In Just 18 Months
US spot Bitcoin exchange-traded funds (ETFs) reached a combined total of $50 billion in assets under management (AUM), just 18 months after their inception, indicating heightened investor confidence in crypto-connected financial products.
The milestone was achieved through 11 spot Bitcoin ETFs already trading in the US market. They include funds from high-profile asset managers and new entrants into the space.
According to Cointelegraph, the daily trading volumes for such ETFs have been robust, particularly during significant market events like Bitcoin halving cycles and price uptrends. Even during phases of price volatility, certain ETFs have experienced steady inflows that denote interest from investors in long-term exposure to Bitcoin through regulated means.
