American rapper Snoop Dogg, who recently disclosed that he is pseudonymous NFT collector @CozomoMedici, has purchased another non-fungible token for $3.9 million in Ether (ETH). He disclosed this news through the @CozomoMedici Twitter handle as well as his official handle earlier today. Reportedly, the artist behind the NFT he purchased is known as XCOPY, and the artwork is dubbed Some Asshole.
Medici’s tweet read,
According to data from SuperRare, XCOPY’s Some Asshole previously sold for 100 ETH (approximately $181,000) in March this year. Before this, the artwork sold for 25 ETH (around $8,200) in September 2020. With the addition of this NFT, Snoop Dogg’s NFT collection is now worth more than $20 million, seeing as it stood at $17.6 million in the past week.
Since disclosing that he is @CozomoMedici, Snoop Dogg has been proactive in the NFT space. As a result, he attracted a partnership with The Sandbox, an upcoming metaverse game based on the Ethereum game. The game allows players to build, own, and monetize their gaming experiences.
According to The Sandbox, this partnership will let the rapper set up his mansion and NFT collection in its metaverse, enabling him to perform live concerts and interact with players. Players can also purchase avatars and virtual Doggfather items, such as his car collection, dogs, NFTs, allowing them to expand their collections.
Seeking stability in NFTs
This news comes after the legendary rapper got interested in NFTs in February this year after an introduction by a friend going by @metahands on Twitter. However, he had a difficult time adjusting, considering he had to part with a fortune to purchase a CryptoPunk ape. After four to five unaccepted bids, he continued investing in crypto.
After a while, he noticed that all cryptocurrencies crashed, but the prices of NFTs continued climbing despite the bearish sentiment in the crypto market. He then began ape shopping again, but even then, the cheapest aper went for around 1,600 ETH, which was still too high, according to him. Upon realizing that prices kept going up, he had to seek another option.
At this point, another friend suggested that he should consider bidding on zombie NFTs. His first purchase became that of Cozom Zombie, a top-three NFT in its category. He purchased the NFT for 850 ETH followed by CryptoPunk #8472, and Rhino Zombie, marking the beginning of his NFT journey.