Image credit to Eminem’s Twitter Page

Whenever people talk about old skool music or the pioneers of Rap music in the United States, Snoop Dogg and Eminem must be included in the conversation. Well, the two legendary rappers are back, and they have brought some Apes with them this time. 

On 24 June 2022, Eminem tweeted that he was releasing a new song called “From The D 2 the LBC.” In his tweet, Eminem included an album cover which is a comic book style with two animated monkeys representing himself and the OG, Snoop Dogg. From the post, it was clear that Eminem was portraying their connection to the Bored Ape Yacht Club (BAYC).

Eminem later followed with another tweet promoting the music video for the “From the D 2 the LBC” song.

From The D 2 The LBC — The video, The song, The premiere

The music video for the Eminem and Snoop Dogg NFT depicts the two rappers morphing into a version of their respective Bored Apes after supposedly smoking a joint of marijuana in the music studio. The video switches between the two rappers, transforming into animated Bored Ape-style avatars as they sing their lines. 

(Kindly include the music video here. Below is the link to the song)

The music video was produced by 1st Amendment and Young California, in collaboration with the Bored Ape Yacht Club team. The duo also recently previewed the song at the 2022 Ape Fest. Moreover, the BAYC team also announced in a tweet that it was working on merchandise related to the song, and they would update the BAYC community once it is available. However, no one knows what the merchandise looks like or which products will be included.

The price of ApeCoin and how it reacted to the music video for the Eminem and Snoop Dogg NFT collab

According to CoinMarketCap, ApeCoin is a decentralized ERC-20 project inspired by Yuga Lab’s Bored Ape Yacht Club project. The BAYC designed ApeCoin as a governance and utility token for the Ape Ecosystem to empower and incentivize decentralized community building at the forefront of Web 3.0.

The price of ApeCoin dropped significantly last month to $4.51 after peaking at the end of April to more than $23. This was during the beginning of the bear market, where large-cap cryptocurrencies like Bitcoin and Ethereum price values also dropped by more than 38%.

However, following the release of Eminem and Snoop Dogg’s new music video, ApeCoin (APE) had a wild price speculation swing on Friday, 24 June, and the price of APE went up as much as 4.7% to $4.62. Besides, given that the EminemMusic channel has over 52 million subscribers, we can presume that APES’s volatility will continue throughout the week, if not the month. 

ape coin price chart

Image credit to an article on Tokenist.com

Eminem and Snoop Dogg’s First encounter with NFTs and Web 3.0

This is not the first time Eminem and Snoop Dogg have ventured into the NFTs and Web 3.0 space. According to Cointelegraph, in late December 2021, Eminem, whose real name is Marshal Mathers III (and not Slim Shady), purchased the Bored Ape #9055 for 123.45 ETH or about $460,000 at that time. Moreover, Eminem currently uses his Bored Ape avatar as his profile picture on Twitter.

Eminem and Snoop Dogg NFT

Snoop Dogg, on the other hand, has been heavily invested in NFT s and Web 3.0 projects. Snoop Dogg joined the BAYC club earlier this year after MoonPay transferred the Bored Ape #6723 from the previous owner’s wallet to Snoop Dogg’s wallet.

There was no actual price recorded, and MoonPay enabled the transaction. MoonPay is a company focused on making it easy for celebrities to buy high-end NFTs while also concealing the actual price associated with an NFT or with who the NFT is affiliated.  

Snoop Dogg has also partnered with The Sandbox metaverse, where he has set up his mansion and performs live concerts and interactions with other players. He has also released 10,000 playable versions of himself, known as The Doggies.

According to a report by The Wall Street Journal, one of The Doggies, Doggy#4292, sold for more than $33,000 several months ago. However, it’s currently valued at around $10,900. Snoop Dogg also recently filed for two NFT trademarks for “UNCLE SNOOP” and “UNCLE SNOOP’S.”

Although the NFT market is in a downtrend, Eminem and Snoop Dogg’s BAYC-related music video shows the NFT community some of the use cases NFTs can be put in. BAYC owners can now point to the music video that uses characters from the club they spend so much money on. Plus, BAYC owners did get the chance to see the duo perform live. 

Today, many celebrities are proud owners of Bored Apes and view it as one of the most active and engaging NFT communities. As such, this shows that there is utility for NFTs, and since Web 3.0 is only in the making, we can expect more developments. Moreover, once the current bear market has been overcome, NFTs will surely make a comeback.