Snoop Dogg NFT Plans benefits and risks

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When Snoop Dogg announced the acquisition of Death Row Records last month, the excitement was palpable. Hip-hop fans will be pleased to know that the legendary label is coming back and everyone is excited to see what develops.

We were disappointed to find that a lot of Death Row’s albums have been removed from streaming platforms.

The first trial was Snoop Dogg’s 20th studio album, BODR (Bacc On Death Row). The LP came with a limited edition NFT version, which offered 3 exclusive bonus tracks and various other perks. Approximately 25,000 copies were sold during the initial release phase.

When Snoop’s NFT offering was announced, the benefits became clear. The NFT sale reportedly generated over $45M within five days of the drop, which would be a great way to generate revenue for music album releases in the coming months

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It seems that after the news of Death Row classics being taken off streaming services, Snoop Dogg has responded with a new NFT album. The Death Row Mixtape Vol. 1 is available now on all digital platforms and features unreleased Snoop Dogg material from the vaults at Death Row Studios.

1,000 copies of the album were quickly sold out within an hour. But you can still listen to some tracks on OpenSea. The platform provides a terrible user experience.

Snoop Dogg NFT Plans

Snoop Dogg is arguably the most famous proponent of web3 in the music industry, but he isn’t the only genre artist to get in on this trend.

Grimes sold almost $6million in NFTs in just 20 minutes last year and it’s thought that Steve Aoki has made more money from his tokens than from the advance he receives for his albums.

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Non-fungible tokens are sometimes described as a new model of arts patronage. Just like the wealthy patrons of old, the token holder’s fund creators. However, in this case, the general public also benefits from being able to own a part of these creations.

Sometimes, the tracks are sold exclusively as expensive NFTs, which means not everyone gets the chance to listen to them. This artificial scarcity means that some people won’t be able to enjoy the use of a valuable resource.

Those who can afford the crypto goods can get awesome perks such as free merchandise and concert tickets. But, naturally, those with less income will not be able to enjoy these goods.

Snoop’s earliest metaverse moves are reminiscent of a major label, not an altruistic upstart; they feel more like web 2 than the promise of web 3.

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