There are 16,137 NFTs left as of this writing, and if the other 8,863 NFTs have been sold at the asking price, the NFT sale has earned a total of at least $44.3 million since it went online last Friday.
When the sale concludes at midnight on Thursday, February 18, Snoop Dogg’s Stash Box NFTs will have produced a total income of $125 million if all 25,000 units are sold.
The unexpectedly large amount of Snoop Dogg’s NFT sale adds an interesting new dimension to the discussion over where established musicians will earn the most money in the future, whether it be from live performances, recorded music, or the Web3.
Surprisingly, famous DJ Steve Aoki, another notable musician in the NFT market, claimed during a Q&A session at a private Gala Music event over the weekend that he has made more money from NFTs than he has from advances over the course of a decade in the music industry.
As reported by Decrypt, Aoki stated, “If I were to genuinely break down, okay, in the ten years that I’ve been doing music… ” “If you take six albums and [combine] all of the advances, what I did in one drop last year in NFTs resulted in a higher income.”
Speaking with MBW in December on the future of NFTs, Aoki’s long-time manager Matt Colon, Global President of Music at talent management firm YM&U, stated that “a lot of changes are going to take place” in the NFT industry in the near future.
“You’re going to witness some major projects that will completely reshape the music industry,” he continued.
According to Gala Music, those who purchase Snoop Dogg’s Stash boxes may expect to receive “exclusive drops” such as films, comics, photographs, and unique concert attendance possibilities, as well as other surprises.
Song NFTs will also have “revenue possibilities on the Gala Music network,” according to the platform’s description.
Those who own all 17 tracks will be eligible for a slew of real-world and digital benefits, including an exclusive concert and pre-party with Snoop Dogg, limited edition Death Row bling, and other goodies, according to Gala Records’ website.
Snoop Dogg’s collaboration with Gala Music comes on the heels of a slew of other NFT initiatives announced by the musician in recent months.
In April 2021, he unveiled his ‘Journey with the Dogg’ collection on Crypto.com, and in December, he collaborated with Solana to create a limited-edition NFT collection that included 9,999 NFTs.
During the month of December, he also debuted his Decentral Eyes Dog NFT, which sold via the NFT platform SuperRare, achieving a total of 188 ETH at auction (about $585,000 at current exchange rates).
Snoop Dogg also has virtual real estate in the Sandbox gaming metaverse, which he uses for his music videos. Last year, a neighbouring property was purchased for the equivalent of $450,000 by an individual.