In Brief:
- Snoop Dogg spoke on the celebrities NFT purchase to boost floor price.
- Many NFT collection’s presale reserves spots for influencer and celebrities.
- He also revealed a future plan for Medici Gallery tour which getting impressive response.
The American hip-hop star, Snoop Dogg unveiled the story behind the drastic rush for NFTs by celebrities.
In his Medici Minute Newsletter, Snoop Dogg talked about the CloneX collection that was created through collaboration between RTFKT and Murakami. Snoop Dogg holds some NFTs from this collection whose floor price is currently revolving around 20 ETH.
He envisaged that Nike will promote this rare collection and slowly and steadily it will hold itself as an exclusive NFT collection among other collections such as BAYC. he said “I’ve seen some big brains in private chats calling for the 40-50e floor.”
Furthermore, he advises people not to count on “celeb pump” for NFTs. many exclusive collections prices boosted after the getting purchase from big names. He mentioned Jay-Z’s name that after his purchase from the CryptoPunk collection, the price and demand both went high in the sky.
He also took the name of Guy Oseary, who recently signed the NFT collection World of Women for representation. Snoop Dogg said that he collected NFTs from this collection for “the day of the announcement that he is now managing the project”.
He is also suspicious about the recent purchase of NFTs from celebrities as he “don’t always feel like the passion is there.” he said the NFTs trend is “addictive” and those celebrities who just buy one NFTs from exclusive collections such as BAYC and leave the ground for others buyers.
This statement signifies Jimmy Fallon’s recent purchase from BAYC, which he also showed in the TV show Tonight Show Starring Jimmy Fallon, where Paris Hilton revealed her first NFT collection and gifted NFTs to everyone in the Audience.
The Medici associate @k__dean also shared his views on the presale registration of NFTs in this newsletter. Numerous collections flow their NFTs in the market with a limited number of Pre-sale collections that are not affordable by the public. Also, some of this collection’s spots are already registered in the name of influencers, alpha groups, or other leading projects.
The Public has no chance of entering such projects, and even if they do somehow get one, the gas wars are always there to haunt them.
Social Media platforms such as Instagram are also key factors in the NFT space for spam NFTs advertisements to make NFTs pricey and famous collections over the internet.
Furthermore, Snoop Dogg revealed a purpose behind the Medici Collection Tour, whose second show is scheduled for this week.
He wrote, “While we love hanging out in the twitterverse, we feel more IRL experiences are needed in the space.”
Snoop Dogg has also leaked the future plan of Medici Gallery NFT tour that “have some special plans for how these shows will evolve.”
In the last section of the newsletter, he assured people that NFTs are safe and “MetaMask is the new Covid mask”. He is also fascinated by NFTs mainstream adoption and anticipating the bright future for NFTs.
