As of October 11, the total transaction volume of the NFT market opensea exceeded $8.5 billion, but the value has reached a new high for many people, after all, since this year, the NFT, as the "new favorite" of the art world and the blockchain, has long attracted the attention and participation of all walks of life.
For example, the world's richest man Musk, crypto artist Beeple, Twitter founder Jack Dorsey, Tron founder Sun Yuchen and other celebrities have long seized the "traffic password" of NFT and fired it fiercely. In addition, many content creators and star artists have also joined the NFT collectibles field, among which the movement in the rap field should not be underestimated.
Not long ago, American rapper Snoop Dogg claimed to be the anonymous Twitter account owner of the well-known "cozomo de' medici", which is undoubtedly a big event in the NFT circle. After all, cozomo, an online character wallet, has nearly $17 million worth of nft tokens.
With such a big hand and what is the story behind it, today let's understand the origin of snoop dogg, which is known as the "godfather of the rap world"?
Many people call snoop dogg "dog grandpa", because he looked like the cartoon character Snoopy when he was a child, so his father gave him this nickname. Born in 1971 in Long Beach, California, usa, he is an American rapper, actor and music producer.
At the age of 23, Snoop Dogg released his debut solo album Doggystyle, which became the top of the US Billboard Albums Chart in its first week. It wasn't until 2018 that he released his 16th solo studio album, Bible of Love, becoming the 2,651st Hollywood celebrity in history to stay on the Walk of Fame.
During this time, he also starred in films such as "Baby Boy" and "Car Wash", and also founded his own clothing brand snoop dogg clothing (sdc). The most recent one is the comedy film "Beach Tramp" starring in 2019.
In September, Snoop Dogg publicly admitted that he was an anonymous NFT collector "Cozomo de'medici", an online character who joined opensea.io in August and owned an NFT token worth nearly $17 million.
Since the announcement in September, he has admitted that something happened that most people do not believe or understand, and in gratitude for receiving a lot of kindness on Twitter, he gave 1 eth to a fan.
What is nft?
The full name for nft is non-fungible tokens, Chinese often translated as "non-homogeneous token/non-fungible token". Simply put, nft is an entry for blockchain, which is a decentralized digital ledger technology similar to cryptocurrencies such as Bitcoin. Because of the irreplaceable nature of nft, this means that it can be used to represent something unique, such as the original Mona Lisa painting in a museum, or the ownership of a piece of land.
While mainstream crypto assets such as Bitcoin (btc) and ether (eth) are also recorded in the blockchain, the difference between nft and them is that any nft token is irreplaceable and indivisible.
When you buy an nft token, it means that you have obtained an indelible ownership record and the right to use the actual asset. For example, if you buy a piece of art, it can be shown and copied, but only you are the actual owner of it.
NFT is a "unique" asset in the digital world, it can be bought and sold, it can be used to represent some commodities in the real world, but the way it exists is intangible. Most of them are digital artworks or trading cards. Some are virtual goods, while others are packaged in common formats such as jpeg and pdf. Only a few nft tokens are a digital record of physical ownership.
In the current NFT market, the avatar nft has formed a good business model and chain. They are created by trend concepts, designed by well-known artists, limited purchase (mint), buyers change to avatars, buyers form communities, marketing (e.g. inviting celebrities to change avatars), make a profit from trading, airdrop other avatars or accessories, use nft for mining, puzzle solving, games, etc.
Back to the source, the avatar is essentially the "face" or "clothes" of the Internet world. The difference is that this costume will not be damaged. Its biggest problem is that it can be easily copied/plagiarized, and the blockchain helps it complete the confirmation of rights, so it becomes collectible, circulating, and profitable. Of course, at present, most people are unacceptable to the concept of nft, and even feel very absurd, as to whether it is valuable or not, time will give the answer.