Music Ally’s Rule of Web3: your NFT marketplace or metaverse doesn’t *really* exist until Snoop Dogg is selling something on it. Sound, the music NFTs startup that emerged from stealth mode in late 2021, is the latest firm to reach that tipping point.
Snoop Dogg dropped 1,000 ‘Death Row Mix: Vol. 1’ NFTs on its marketplace yesterday. The NFT is tied to a 28-minute mix of tracks, and despite the fact that any visitor to the NFT page can stream it in full without buying, the 1,000 editions quickly sold out for a total dollar value of $255.2k.
However, the drop happened as another story was breaking: the news that a number of Death Row’s big albums have been pulled from streaming services without explanation. Bad news for anyone wanting to stream Dr Dre’s ‘The Chronic’, Snoop’s ‘Doggystyle’ and others.
Snoop Dogg recently acquired Death Row and announced his intention to turn it into “an NFT label”, but it is unclear at the time of writing whether the removal of music from DSPs is a deliberate part of that strategy, or some other kind of legal/licensing shizzles being twizzled.