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Snoop Dogg And Wiz Khalifa Have Partnered To Release A Series Of Eight Music Compositions As NFTs

Snoop Dogg, an old school rapper, has released new music based on ApeCoin (APE) and the Bored Ape Yacht Club as NFTs (BAYC). “Ape Drops 03: An 8th” is an eight-track mixtape produced in collaboration with fellow rapper Wiz Khalifa.

Since its beginning a week ago, APE, BAYC’s native cryptocurrency, has surged by over 1,300 percent, including more than 13 percent in the 24 hours following the announcement. The $ 300,000-floor price of bored ape NFTs has recently gotten a lot of attention.

Snoop Dogg and Wiz Khalifa, two American rappers, have partnered to release a series of eight music compositions as NFTs on Thursday, with the themes ApeCoin (APE) and Bored Ape Yacht Club (BAYC).

The “Ape Drops 03: An 8th” collection includes around 8,000 NFTs in sizes ranging from 12 APE to 15 APE ($165 -$210). The BYAC-themed music NFTs may only be purchased with APE tokens. Users can listen to songs before purchasing it. Notably, Manifold was in charge of the collection’s minting.

Snoop Dogg previously released a number of digital albums. A Journey With The Dogg, which is affiliated with Crypto.com, is one of these. The rapper is also an avid OpenSea fan. He not only released thousands of playable avatars through The Sandbox, but he also helped increase the value of the SAND token.

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On the day the APE currency was introduced, the price of BAYC NFTs jumped to 109 ETH before plummeting 30 percent to 78 ETH on March 17. The asset was trading at around $7 on FTX, where APE coins were available the same day. On the second trading day, APE rose by more than 90% to more than $15.

The price of ApeCoin has climbed by 1,300% in the last seven days, while the price of APE has increased by 13% in the last 24 hours to $13.77. It is, however, down 19.5 percent from its all-time high of $17, which it attained the day after its launch on March 18.

Yuga Labs, the startup behind Bored Apes Yacht Club (BAYC), raised $450 million in a fundraising round led by venture capital firm Andreessen Horowitz. Following the Yuga Lab announcement, the APE price increased.

ApeCoin’s market price decreased overnight from $11 to $9 during its airdrop earlier this week due to a $1.5 million flash loan attack. However, it is already back up to $13.3.

On Tuesday, Yuga Labs disclosed a post-money valuation of roughly $4 billion.

Guy Oseary, a Yuga Labs partner, stated,“This capital will give Yuga speed to market on many things underway and bring in new partners with strategic thinking that share the vision.”