As experts predicted, NFTs are slowly becoming the go-to tool for musicians and other independent artists. NFTs or non-fungible tokens refer to the tokenization of unique pieces of digital art, history, collectibles, and whatnot. Powered by smart contracts, this new arrival offers the best-decentralized solution for creators to monetize their artworks while also protecting their intellectual rights. This revolutionary addition has received endorsements from many public figures and celebrities. Snoop Dogg strengthens his stance in the new field by launching his NFT collectibles on Cardano.
The collection of NFTs will comprise rare musical pieces and unreleased albums from Snoop Dogg. The partnership was signed between an NFT project named Clay Nation on Cardano and Snoop Dogg. The collaboration also features a top-end NFT artist who goes by the name Champ Medici. These two artists together will bring much-needed exposure to the growing market for NFTs on Cardano.
Cardano’s blockchain went into development in 2015 and was launched in 2017 by Charles Hoskinson, who co-founded Ethereum. The network posted some serious growth in the last five years and has engraved a name for itself in DeFi, gaming, NFT, and other areas. The new year has given some great impetus to the network bringing a 25,000% growth to its TVL value and reach. The growth has brought some inverse changes in the Cardano price predictions. New traders interested in Cardano should research and read the unbiased forecast to know more about what experts have to say about Cardano.
More importantly, the NFT projects and dApps on Cardano have exceeded the expectations of everyone in recent times. The new partnership with Snoop Dogg and Champ Medici now proves the network’s efforts to grow its number further. The Twitter announcement from Clay Nation got approval from Charles Hoskinson as well. Previously, Hoskinson confirmed that the Cardano DeFi ecosystem is growing with millions of assets and hundreds of dApps. The blockchain network will be able to soar higher with the launch of the much-awaited Vasil hard fork in June. This will bring the benefits of pipelining to the ecosystem.
On the other hand, this is not the first time Snoop Dogg has attempted to explore NFTs. The celebrated rapper has already built his base called Snoopverse in the Sandbox metaverse. There are also rumors about his plans to change his newly acquired Death Row records into the first NFT recording label. Decentralization and NFTs have been attractive to independent artists and musicians primarily because they cut the middleman costs considerably and bring the works straight to the fans. Moreover, the creators do not have to tackle censorship issues found in the trading music industry. Although it offers several benefits to independent creators, we must understand that it is still a growing area.