The decline of the cryptocurrency industry observed today made it clear who is really interested in its development, and who just "abused opportunities." This is the opinion of famous American hip-hop artist Snoop Dogg, who spoke on CNBC.

The rapper believes that today's negative phenomena can be perceived positively, if you look at them in the long term. Snoop Dogg is sure that the cryptocurrency industry is among the great industries, and each of them has its downfalls.

According to him, all of today's recording studios sooner or later will begin to master the Web3 segment and NFT technology. The rapper also admitted that they are already guided by his experience in the cryptocurrency sphere and often consult with him.

Earlier one of the largest U.S. music corporations Warner Music Group signed an agreement with the creator of the NFT game Splinterlands. Another company in this area, Sony Music, has joined in raising investments to develop the MakersPlace non-mutually exchangeable token platform. And a third industry giant, Universal Music Group, began working with a music band in the form of characters from the famous NFT collection Bored Ape Yacht Club.