Snoop Dogg and Son Broadus Innovate Music Industry with Web3 and NFTs
Summary:
Rapper Snoop Dogg and his son Cordell Broadus, known as Champ Medici, have made significant strides in integrating Web3 technologies such as non-fungible tokens (NFTs), the metaverse, and blockchain with the music industry. Broadus has played a crucial role in bringing Snoop Dogg's legacy to the digital era. The duo has launched various successful projects including a music NFT drop and selling licenses to Snoop's songs on OpenSea. Their latest venture is Death Row Games, a gaming initiative inspired by the iconic Death Row Records. Broadus emphasizes the importance of community support and representation of diverse creators in the Web3 space.
In recent years, the growth of the Web3 industry has been meteoric, evolving from a niche idea about the internet's future to a tangible reality that's being shaped by some of the brightest innovators of our era. The sector has attracted significant endorsements from many high-profile individuals, with eminent figures from various spheres diving into the world of Web3. Among these is renowned rapper and entrepreneur Snoop Dogg, along with his son Cordell Broadus, also known by his moniker Champ Medici. Within the past year, they have pioneered the integration of Web3 technologies like non-fungible tokens (NFTs), the metaverse and blockchain with the music industry to engage with their extensive fan base. In November 2022, Snoop Dogg and Billy Ray Cyrus broke the mold by uniting music lovers across various genres and blockchain networks through an innovative music NFT drop.
Cordell Broadus has played a pivotal role in translating his father's illustrious legacy into the current era characterized by digital innovation. He revealed how he was introduced to the metaverse in 2020, followed by Snoop Dogg being targeted by Crypto.com. However, during initial discussions about digital assets and NFTs, those around them struggled to fully grasp the concept. Broadus stepped up to understand it better, simplifying it so that not just his father, but also an entire culture could comprehend it. He envisioned himself as a 'bridge', encouraging people to explore this realm and understand the potential of digitizing their business, moving beyond traditional methods. Broadus observed that many musicians didn't realize that their unreleased music has the same potential as digital assets. He also emphasized the importance of community support in the NFT space.
Broadus recounted how he persuaded Snoop over a long period to recreate his debut album, 'Doggystyle', released in 1993. This concept gradually lodged itself in Snoop’s mind, making him more receptive to the NFT idea when it emerged. This clarity was augmented after their successful trial on OpenSea, where they released 250 Snoop songs, with the licenses and the songs' stems being sold. The first step was the release of 500 copies of the single "High" at a price of $500 each.
The team instantly saw results, with the initial tranche selling out and generating a revenue of $250,000 on the first day. By the 30th day, their venture had garnered a staggering $3.5 Million. Broadus spoke of how amazed and thrilled he was to witness other creators purchase these songs and reprocess them into other genres like EDM and country. In his opinion, such collaboration and creativity were only possible thanks to NFTs. His belief in the possibilities of the space was further solidified when he attended NFT NYC and came across musicians who had bought the NFT stems of the songs during their trial run.
Broadus also remembered a significant moment at a previous Sandbox event this year, where he interacted with the big names from Web2 and Web3 spaces and realized how critical their presence was for their community at large. Moreover, he felt a strong need to represent his culture as he was one of the few black attendees at the event.
To maintain the momentum, Snoop, Broadus and their team launched their latest initiative, Death Row Games, on November 6th, inspired by the iconic Death Row Records. The label was acquired by Snoop in February 2022. The gaming initiative builds on the team's gaming-related activities in the Web3 realm, including Snoop’s Snoopverse in the Sandbox metaverse and collaborations with Yuga Labs. The same principles of promoting diversity among creators and narrating stories from various parts of the world and minority communities are also being applied in this gaming venture.
Published At
11/8/2023 1:23:01 PM
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