In a recent interview, Snoop Dogg expressed his optimistic views on the recent crypto crash saying that it has weeded out those abusing opportunities.
Accompanied by his son, Champ Medici, Snoop Dogg shared his thoughts on the crypto bear market, NFTs in music, NFTs used for branding, and Elon Musk.
Calling crypto a beautiful industry, Snoop said, “I feel like every great industry has a downfall, there’s always a depression in every industry you could look at. Alcohol, tobacco, clothing, food.”
However, he added that the crash may actually do the industry some good in the long run.
He added, “I just feel like this weeded out all of the people that wasn’t [sic] supposed to be in that space and all the people who were abusing the opportunities that were there.”
Snoop also touched upon the music industry and believes that the big record labels will eventually get into Web3 and NFTs because ‘all of them’ have been asking him for his advice.
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“Sooner or later the labels are gonna have to come on in,” said Snoop, who recently along with Eminem released a song featuring Bored Ape.
He added that the record labels will have their catalogs served on the blockchain instead of the traditional ‘discussions’.
Champ Medici, on the other hand, added, “Everybody’s rushing to Web3.”
