The collection saw a 491% boost in volume in a week
Snoop Dogg spent almost half a million dollars on a CrypToadz NFT, effectively boosting the popularity of the collection. The rapper changed the Twitter profile picture of his NFT collecting alter ego Cozomo, endorsing CrypToadz and giving the community a significant morale boost.
The American hip-hop superstar paid 140 ETH or $474.763 to add CrypToadz #4236 to his NFT collection. According to the valuations of the DappRadar Portfolio Tracker, Snoop now owns 9 CrypToadz, and this latest acquisition is among his top 10 most valuable NFTs.
CrypToadz has been in the spotlight in the past week, with outstanding upticks in performance. Volume for the collection skyrocketed 491% to more than $50 million in the past seven days. Additionally, the number of traders increased more than 30%. It’s safe to say that this NFT community is vibrant at the moment.
Why CrypToadz is becoming a success
CrypToadz launched in early September. However, the collection has found better recognition since the beginning of this month. Big names in the NFT space like Beanie have endorsed the funky, pixelated NFTs created by GREMPLIN. With a total count of 6969 NFTs, which were minted in a matter of hours, CrypToadz is steadily on the road to conquering floor price heights. At the time of writing, the lowest price for a CrypToadz NFT on the secondary market is a little over 14 ETH, up from only 5 ETH seven days ago.
Interestingly, GREMPLIN has waived any copyright over the collection, effectively making the artwork and designs available to anyone interested to use them. Fans and NFT collectors appreciated the CC0 creative commons license and started tinkering with their toadz pretty fast.
Snoop Dogg changed his profile picture
Ever since his official reveal as an NFT collector, Snoop Dogg had CryptoPunk #3831 as Cozomo de’ Medici’s Twitter account profile picture. Regardless of his numerous NFT purchases, this had not changed until the rapper aped into CrypToadz.
While simply changing your profile picture might seem like an irrelevant detail, the magnitude of Snoop Dogg’s popularity changes this perception. By making CrypToadz #4236 Cozmo de Medici’s new profile image, Snoop effectively endorsed the collection to the highest possible extent.
Additionally, a closer look at Snoop’s NFT portfolio reveals that he holds eight more of the CrypToadz NFTs. However, some of them were gifts, probably from dedicated CrypToadz fans, who wanted to celebrate this celebrity endorsement.
CrypToadz is definitely enjoying a significant push in activity since Snoop Dogg joined the community. Following his purchase, activity for the collection increased even further. In the past 24 hours, more than 140 NFT collectors interacted with its smart contracts, completing upwards of 150 transactions. Even if these were only sold at the floor price of 14 ETH, this brings the total to 2100 ETH. This is the equivalent of over $7 million according to DappRadar data.
DappRadar will continue monitoring CrypToadz as the collection continues to develop and possibly attract new celebrity endorsements. If you’re curious to see Snoop Dogg’s wallet or browse around the wallets of other celebrity NFT enthusiasts, take a look at the links below.
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