Snoop Dogg’s $7 Million NFT Receives $0.00 Offer
In the world of non-fungible tokens (NFTs), it’s not uncommon to see incredible sums of money being exchanged for digital artworks. Cozomo de’ Medici, more commonly known as the famous American rapper Snoop Dogg, recently made headlines when he purchased XCOPY’s “Right-click and Save As Guy” NFT for a whopping $7 million. However, it seems that this high-profile purchase hasn’t quite lived up to its initial hype, as de’ Medici revealed on Twitter that he had received an offer of $0.00 for the valuable piece.
The “Right-click and Save As Guy” NFT was initially minted on December 6, 2018. Its significance grew after Beeple’s historic Everydays auction and subsequent feature on BBC World News, which played a pivotal role in shaping public perception of NFTs. Recognizing its potential value, de’ Medici acquired the artwork for a staggering $7 million (1600 ETH) on December 9, 2021.
This purchase represented a remarkable increase in the artwork’s value, amounting to over 3,500 percent. Prior to de’ Medici’s acquisition, the NFT had only been sold twice before – once for a mere $90 (1 ETH) and another time for $174,195 (99 ETH).
Despite the initial excitement surrounding the purchase, things took an unexpected turn when de’ Medici revealed on Twitter that he had received an offer of $0.00 for the NFT. The news certainly raised eyebrows, as many wondered why such a high-profile digital artwork would receive such a low offer.
However, it didn’t take long for the situation to change. Just moments after de’ Medici’s tweet, an offer for the NFT emerged. This time, the offer came in at 0.069ETH ($109), providing a glimmer of hope for de’ Medici and a potentially positive outcome for his investment.
NFTs have emerged as a popular form of digital ownership, allowing individuals to possess unique digital assets that cannot be replicated or replaced. They have revolutionized the art world, enabling artists to monetize their digital creations and buyers to own exclusive pieces of digital art. However, the volatility and unpredictable nature of the NFT market can sometimes lead to surprising outcomes, as highlighted by de’ Medici’s experience.
While it remains to be seen how this particular NFT will fare in the market, it serves as a reminder of the ever-changing landscape of digital assets. NFTs continue to captivate audiences and push the boundaries of what we consider valuable. Whether this offers a cautionary tale or a testament to the unpredictability of the market, it is clear that NFTs are here to stay, with the potential to reshape the way we perceive and engage with art.