Snoop Dogg, an American artist, has taken another step further in his cryptocurrency journey, this time investing in Cardano.
Snoop Dogg, who has been involved in the NFT space since last year, has become a global superstar due to his consistent support and multimillion-dollar collections, most of which are held on Ethereum. The rapper is currently focusing his efforts on Cardano in preparation for his upcoming entry into the NFT market.
With the launch of smart contracts last year, Cardano has risen to become one of the most sought-after decentralized finance (DeFi) networks. It has caught the interest of celebrities such as Snoop Dogg, who is developing his NFT collection on the blockchain.
This was revealed on Twitter by Clay Nation, which is collaborating with Snoop Dogg and NFT artist Champ Medici to produce the NFT collection.
This collaboration will result in the publication of many limited-edition ‘pitches,’ as well as previously unheard tunes by the rap legend. Charles Hoskinson, the developer of Cardano, appears in the introductory video with two Clay avatars created for Snoop Dogg and Champ Medici to endorse the cooperation.
The musician Snoop Dogg welcomed the idea on Twitter, using the hashtag #Cardano.
On the Cardano network, the NFT and DeFi sectors are expanding. This year alone, the network’s TVL increased by over 25,000 percent, reaching $300 million in TVL locked on the network.
The Cardano network just achieved the 4 millionths native asset deployment. Cardano deployed hundreds of thousands of native assets, a figure that even founder Charles Hoskinson conceded exceeded his wildest hopes.
Currently, the network is worth around $240 million. This is connected to the current market crash, which occurred after the surge in the value of all cryptocurrencies.