- [Narrator] Cryptocurrency and NFTs are digital currencies
reshaping how goods and services are exchanged
and wealth is being amassed.
Cryptocurrency is digital currency
that's not reliant on a central authority,
like a bank or government.
According to Fortune Business Insights,
the global market for cryptocurrency is slated
to experience double-digit growth,
from 910 million in 2021
to 1.9 billion by 2028.
A non-fungible token, aka NFT,
is a digital asset with a digital record assigned to it,
allowing its ownership to be tracked as it's traded.
Jefferies forecast the NFT market skyrocketing
to $80 billion in value by 2025.
As digital music, movies and Web3
have everyone captivated,
our people are making moves across the digital universe
and there's lots of money being made.
Here are some celebrities creating wealth
via the electronic revolution.
(upbeat music)
Once upon a time,
Snoop Dogg clocked dough in the streets of Long Beach.
But now the brother is pushing down the digital highway
making paper with NFTs and crypto.
One of Snoop's first forays into the NFT space
was a one-of-a-kind digital piece of art,
entitled "Death Row,"
that sold for over $100,000 in 2021.
Later that year, Snoop Dogg revealed
that he was an NFT digital art collector,
adopting the pseudonym Cozomo de' Medici.
Cozomo de' Medici has amassed a digital art collection
valued at over $17 million.
The Doggfather also partnered with gaming platform,
The Sandbox, to introduce the Snoopverse,
first Snoop's own branded world within The Sandbox,
and give early access adopters entree
to the Doggy Dog World first.
His Doggness has banked $2.1 million
off of the early access passes so far.
The largest deal by far though
is when Snoop hit an NFT windfall.
He sold over $44 million of Stash Box NFTs
for his new album released on Death Row,
"Bacc on Death Row."
One of Snoop's latest endeavors in the NFT game
is a cadre of 10,000 Snoop avatars called The Doggies.
The Doggies have handsomely generated
more than $4.6 million.
As enterprising as ever,
Snoop Dogg is a first adopter of technologies
that keep his portfolio diversified
and new revenue streams
contributing to the financial legacy
he will pass along to future generations.
As typified by a tweet from Snoop Dogg in December, 2021,
"We're on the cusp of a digital revolution.
Wake up and get it."
Iron Mike Tyson is catching the new wave
of electronic commerce.
The heavyweight businessman
dove into NFTs and crypto head first
and isn't looking back.
In April of 2021, Mike Tyson added Tyson's Mystery Box NFT,
a collection of autographed shorts,
warm up gear, boxing gloves,
and gave entree for buyers
to purchase an additional Mike Tyson NFT
illustrated by the famed artist, Henric Aryee.
The box sold for 44 BUSD on the Binance NFT marketplace.
Several months later,
Mike teamed up with artist, Cory Van Lew,
to create the Mike Tyson NFT Collection,
a collection of illustrations
that celebrate the baddest man on the planet.
Iron Mike's digital wealth isn't stopping
with creating and owning NFTs.
Cryptocurrency is a major part of his investment strategy.
When Tyson was searching for a crypto partner
to compliment his NFTs,
he queried his audience
asking which currency they preferred.
Their responses led him to select Solana,
the fifth largest cryptocurrency by market capitalization,
currently valued at almost $34 billion.
Mike Tyson is a champ in the boxing world
and is diversifying his credits,
adding crypto trading and NFT heavyweight to his title.
Timbaland has kept heads bobbing
for nearly three decades with his one-of-a-kind beats.
If his four Grammy wins are any indication of his success,
his digital financial plans are paved in digital gold.
Timbaland saw that the future of NFTs could impact music,
producers and artists,
grabbing the reigns and ran with it.
Since NFT ownership is tracked differently
than traditional music ownership,
songs, albums, lyrics,
and even cover art could mean
more equitable compensation for creatives.
In 2021, his beat emporium
for buying and trading beats, Beatclub, joined hands
with financial services tech company, Horizon Fintex,
enabling traders with the ability to trade music shares
and NFTs from songwriters and producers.
Later that year, Timbaland created a series of hooks,
beats and stems,
creating NFTs from his "Opera Noir" EP.
Each track was said to have
between five to eight different NFTs,
totaling 50 to 90 digital collections per title.
Early in 2022, Timbaland joined "Time's" TIMEPieces,
who announced the mega producer
as their second artist in residency.
Timbaland is tasked with creating
the organization's first music NFT collection
featuring an original beat that will be interpreted
into visual video art by 14 different artists.
Whether in the booth, the ring or on the boards,
Snoop, Mike Tyson and Timbaland
deserve some respect on their names
for creating wealth across the digital world
with cryptocurrency and NFTs.
(upbeat music)