Snoop Dogg, a rapper, spoke out about the crypto crash during a Tuesday interview with CNBC. He stated that he believes the economy will rebound from the crash. Snoop stated that he felt like the crash “weeded out all of the people” who were not meant to be there.
Snoop Dogg believes that the crypto crash is temporary. He also believes that the ecosystem will rebound in the future. CNBC spoke with , a hip-hop recording artist who discussed his current view on non-fungible tokens and cryptocurrencies.
Snoop, when discussing NFTs, stated that the reason he was drawn to the digital collectibles market was his intellectual property (IP). He said that he wanted to be able to control all IP, not just as a marketing tool or face, but to be the actual owner, the CEO.
Snoop responded to a question about the current drawdown in crypto markets by saying that he doesn’t believe it will last.
Snoop jokedly asked the CNBC reporter, “It’s cryptocurrency… It’s Crypto, you know that right?” It was a beautiful industry, I feel. Every great industry has its downfall. I believe that every industry is susceptible to depression. The rapper also mentioned alcohol, tobacco, clothing and food.
Snoop said that he believes the crash is ridding music industry of bad apples. Snoop, a recording artist and entrepreneur, stressed:
This ‘weeded out’ all of those who weren’t meant to be there and all those who were exploiting the opportunities. It will bring in great business and the market will continue to have many great options.
Snoop says that Hip-Hop Recording Artist has been into Bitcoin since 2013.
Snoop is not only a rap superstar in the music industry, having sold 35 million albums around the world. He’s also been a long-time participant in the digital currency market. The hip-hop artist was the first to accept bitcoin ( Bitcoin) as payment for one of his studio albums.
After releasing his 12th album under the reggae name “Snoop” in 2013, Snoop stated that he would accept Bitcoin as payment for his next album. sent the following tweet: “My next record is available in bitcoin n delivered by a drone.” Snoop posted a tweet about his interest to accept BTC. Coinbase and Bitpay responded.
“Hey Snoop Dogg. “We can help you with that,” Bitpay , a Atlanta-based company, replied the musician. Coinbase also told Snoop that they could make bitcoin part real for him.
Both companies received a response from the musician, who said that he would be happy to direct message them. Although no one knows exactly how many albums the rapper sold BTC to date, one bitcoin address (from Snoop’s old QR code), suggests that the rapper only made around 0.01245982 before abandoning his idea.
Snoop was interviewed on Tuesday about his interest in NFTs. He said that he knew NFTs would be huge in the music industry as the labels will eventually have to get in. “The labels are going to have to come home. They will have to be able to understand that the blockchain is better for their catalogs and other items than just sitting around the catalog collecting cobwebs,” Snoop stated.
Snoop’s Death Row Records label embraced NFTs. However, Snoop was asked if any other music labels had come to Snoop for advice on crypto. Snoop said “All of them” and Champ Medici, a Web3 entrepreneur, also replied that it was not just music labels. “Movie studios and tech companies, beverage businesses, everyone is rushing towards Web3,” Medici stated to the CNBC reporter.