- Snoop Dogg and son Champ Medici said record labels are better served on the blockchain.
- The rapper also claimed crypto winter has weeded out all the people who weren’t supposed to be in the space.
- Snoop Dogg has been a staunch supporter of NFTs and continues to believe in their merit.
American rap legend Snoop Dogg said record labels are better served on the blockchain than sitting in a catalog collecting cobwebs.
The songwriter talked about all things from NFTs to his venture into the food industry in his latest interview with CNBC at NFT.NYC conference in New York City.
“I know [NFTs] have a great opportunity to be big in music because sooner or later the labels are going to have to come on in,” said the 50-year-old rapper, who was accompanied by his son, Cordell Broadus, a.k.a. Champ Medici.
They’re going to have to come on home and sit at the table and understand that catalogs and things they hold onto are better served on the blockchain than sitting in the catalog collecting cobwebs.
When asked about the current market collapse, Snoop Dogg argued that the crypto winter was weeding out all the people who weren’t supposed to be in the industry and those who were abusing the opportunities that were available in the space.
Earlier this year, Snoop announced his plans to turn Death Row Records into an “NFT label.” This is the record label that he acquired from Blackstone-controlled MNRK Music Group.
Additionally, the musician also made his foray into the metaverse. The rapper recently partnered with gaming platform The Sandbox to sell “The Snoopverse Early Access Pass” which gives buyers access to experiences in The Snoopverse. This is his own branded world within The Sandbox platform.
Snoop’s latest project is a partnership with Food Fighters Universe (FFU), which claims to be the world’s first NFT restaurant group. His ice cream brand, Dr. Bombay’s Sweet Exploration, is ready to open in Los Angeles under the FFU umbrella.