Snoop Dogg Launches 'Decentralized Dogg' NFTs

Rapper Snoop Dogg released his first non-fungible token (NFT), "Decentralized Dogg," in collaboration with digital artist Coldie.

What Happened: The NFT was released on the SuperRare market on Monday as the final release of the Decentral Eyes Portrait Series, according to a Tuesday Cointelegraph report. The auction will continue until Friday.

The NFT features a stereoscopic 3D collage of 10 different portraits of the musician from various phases of his artistic development and a short music piece with NFT-themed lyrics.

As of press time, the highest bid for the artwork is 169 Ethereum ETH/USD, equivalent to over $771,000.

Snoop Dogg's innovation and investment partner Nick Adler told the news outlet that the NFT is nothing more than the “beginning of Snoop’s work in the NFT and art space.” Snoop Dogg getting involved in the space is not particularly surprising since he bought numerous NFTs himself at a hefty price, clearly showing that he believes in this technology's potential.

According to late September reports, Snoop Dogg paid nearly $3.9 million — in the form of 1,300 ETH — for an NFT by XCOPY after collecting $17 million worth of NFTs.

Adler said that based on the reception of the NFT, Snoop Dogg would be “absolutely open to future collaborations with Coldie or other iconic NFT artists.”

Photo: Phil King via Flickr Creative Commons