I Bought the Snoop Dogg NFT on Crypto.com | My 1st NFT | FULL Demo
In this video you will see step by step how I Bought the #SnoopDogg #NFT using Crypto.com. #Crypto dot com just launched their new NFT platform and they have amazing artists like Snoop Dogg contributing NFT art. I will take you through the whole process for shopping for an NFT to buying my very 1st NFT. I will show you how to buy an NFT with bitcoin. We will also answer the question, what is an NFT?
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American rapper Snoop Dogg will drop his debut NFT collection on Crypto.com on April 2.
Snoop Dogg First NFT Collection The collection titled “A Journey with the Dogg” was inspired by Snoop’s memories from his early years and the widespread, ongoing NFT movement.
It consists of eight original pieces of art, an original music track called “NFT,” and a limited edition “Snoop Dogge Coins”. The limited-edition piece will reportedly only be available for an hour after its launch.
Why It Matters: “I’ve seen the game change over the years from analog to digital and I’m always happier when the technology lets the fans get to connect with the artists. NFT’s are an amazing innovation and it is an honor to do my first drop with Crypto. com/NFT,” said Snoop Dogg.
The rapper also declared that a portion of the proceeds from this NFT sale would go towards supporting young and emerging artists in the crypto space, and Snoop’s Youth Football League.
NFT collectors and traders can acquire, trade, and resell NFTs on the Crypto.com platform using their credit or debit cards or pay with their cryptocurrency holdings, including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).
“We’re thrilled to have worked with Snoop Dogg on his first NFT drop. He’s been a cultural icon and a trend-setting artist throughout his career. His upcoming drop will be no different.”, said Joe Conyers III, EVP, Global Head of NFTs for Crypto.com.
Despite being newly launched, Crypto.com expects its NFT platform to be one of the largest in the space, given that its cryptocurrency exchange already has a user base of over ten million.
The NFT platform will see upcoming debut NFT drops from several other mainstream artists and organizations, including Lionel Richie, BossLogic, and Aston Martin Cognizant Formula OneTM.
What is an NFT?
A non-fungible token (NFT) is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, audio, videos, items in video games and other forms of creative work. The NFTs can be bought on an NFT market. Access to any copy of the original file, however, is not restricted to the owner of the token. While the digital files themselves are infinitely reproducible, the NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership of the NFTs.
NFTs can be used to commodify digital creations, such as digital art, video game items, and music files. Blockchains such as Ethereum, Tezos, and Flow each have their own token standards to define their use of NFTs. Increased interest in the market for NFTs has resulted in increased speculation, as the same investors who had previously speculated on cryptocurrencies began trading NFTs at greatly increasing volumes.
NFTs mostly run on a proof-of-work blockchain, which is less energy efficient than a proof-of-stake blockchain. This has resulted in some criticism of the carbon footprint for NFT transactions.
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