This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first place.
Snoop Says Crypto Crash Is Transitory and Great Choices Will Follow the Aftermath
Snoop Dogg thinks the current crypto crash is temporary and in time he believes the ecosystem will bounce back. Speaking with CNBC on Tuesday, the hip-hop recording artist discussed his current perspective on non-fungible tokens (NFTs) and cryptocurrencies.
While talking about NFTs, Snoop said that what drew him toward the digital collectibles space was the intellectual property (IP) ideas and “being able to own and control the whole IP and not be used as a face or marketing tool … but to actually be the owner, the CEO.”
When Snoop was questioned about the current crypto market drawdown, he responded by saying that he doesn’t think it will last long.
“It’s crypto… It’s crypto, you know that right?” Snoop jokingly asked the CNBC reporter. “I feel like it was a beautiful industry that was created. I feel like every great industry has a downfall, there’s always a depression in every industry you could look at. Alcohol, tobacco, clothing, and food,” the rapper added.
Snoop continued by remarking that he thinks the crash is ridding the industry of bad apples. The recording artist and entrepreneur stressed:
I just feel like this ‘weeded’ out all of the people that wasn’t supposed to be in that space and all the people who were abusing the opportunities that were there. Now its going to bring great business, and moving forward the market will have great things to pick and choose from.
Hip-Hop Recording Artist Has Been Into Bitcoin Since 2013, Snoop Says Music Labels Will Have to Come to the Table When It Comes to NFTs
Snoop not only is an early rap star in the music world, selling 35 million albums worldwide, he’s also been into the digital currency space for a very long time. The hip-hop artist was one of the first rappers to accept bitcoin (BTC) for payment toward one of his studio albums.
In 2013, after releasing his 12th record under the reggae persona “Snoop Lion,” Snoop explained that he wanted to accept BTC for payments for his next album. “My next record available in bitcoin n delivered in a drone,” the rapper
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