The NFT market is showing signs of recovery, from rising transaction volumes to enhanced usability, various factors suggest that a new bull market may be brewing. On July 10, legendary rapper Snoop Dogg launched a series of NFTs inspired by his personal style on Telegram, totaling nearly 1 million, which were sold out in just 30 minutes, with a total transaction volume reaching $12 million.
Telegram CEO Pavel Durov stated after the release that this might be the fastest sale of NFTs in history, and announced that blockchain minting and secondary trading features will be launched within the next three weeks. He described the sale as "insane" and emphasized that Telegram is becoming the main stage for the convergence of creativity and community.
Since integrating the TON blockchain, Telegram has become an important platform for NFT creation and trading. Its unique NFT gifts and stickers provide users with a verifiable form of digital ownership. These stickers not only represent identity and belonging but also have collectible, tradable, and automation features, making them popular among users.
Currently, Telegram has over 1 billion monthly active users. The platform's NFT stickers and gifts are providing new monetization avenues for creators like Snoop Dogg and opening up low-threshold participation in NFTs for ordinary users. Unlike traditional NFT projects that rely on external platforms, Telegram allows users to create, trade, and display within the app, greatly enhancing usability.
The success of Snoop Dogg's NFTs marks Telegram's gradual emergence as a mainstream entry point for NFTs. With celebrities entering the scene, increased user activity, and enhanced integration of blockchain tools, the NFT market may experience a new explosion by 2025.
