Snoop Dogg, one of the most famous people who is positive about crypto and Web3, says that the current “crypto winter” has been hard for investors, projects, and businesses.
But he thinks that things will get better on the market and that cryptocurrency will stay.
In an interview with CNBC on Tuesday, the rapper talked about NFTs and how important they are in the music business. Cordell Broadus, who runs Web3 and is also known as Champ Medici, was also on “Crypto World.”
Depressions have happened in every field.
When asked about the future of the cryptocurrency market given the bear market, Snoop Dogg said that it would “go on forever.”
He says that whatever is holding crypto back right now is not unique to it, since “downfalls” have also happened in other industries. He thinks that the cryptocurrency industry, which has been shaken by the failure of many big projects because of contagion, will come out even stronger.
He sees the problems that some companies are having and the price drop as growing pains that almost every sector goes through.
“I think that every great business has to end at some point,” he said. “Every business you can think of has been in a recession, including alcohol, cigarettes, clothing, and food,” he said.
He also thinks that the crypto winter gives the market the time it needs to figure out which businesses are good and which ones have “wasted” their chances.
He says that getting rid of “everyone who wasn’t supposed to be in the space” can only mean good things for the future.
“Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from,” he said.