Snoop Dogg, an American rapper, has taken another step further in his cryptocurrency journey, this time betting on Cardano.
Snoop Dogg, who has been involved in the NFT field since last year, has become a household brand thanks to his unwavering support and his multimillion-dollar collections, the most of which are held on Ethereum. Now, for his next entry into the NFT market, the rapper is focusing on Cardano.
After the debut of smart contracts last year, Cardano has risen to become one of the most sought-after decentralized finance (DeFi) networks. It has piqued the interest of major names like Snoop Dogg, who is releasing his own NFT collection on the blockchain.
Clay Nation, who is releasing the NFT collection with Snoop Dogg and NFT artist Champ Medici, revealed this on Twitter.
This collaboration will result in a variety of collectibles, previously unheard songs from the rap legend, and other limited-edition ‘pitches.’ Cardano founder Charles Hoskinson endorses the cooperation, appearing in the introduction video with two Clay characters created for Snoop Dogg and Champ Medici.
Snoop Dogg, a rapper, also took to Twitter to support the idea, using the hashtag #Cardano.
DeFi and NFTs are gaining traction on Cardano.
On the Cardano network, the NFT and DeFi area is expanding. This year alone, the network’s TVL has increased by more than 25,000%, reaching as high as $300 million in TVL locked on the network.
The network just celebrated the deployment of the 4 millionth native asset on the Cardano network. Hundreds of thousands of native assets were deployed on Cardano, a quantity that even founder Charles Hoskinson confessed had beyond his wildest predictions.
Approximately $240 million is currently locked on the network. This is due to the recent market downturn that occurred after cryptocurrencies rose in value across the board.
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