A recent social media post from prominent Non-Fungible Token (NFT) collector Cozomo de’ Medici, widely associated with rapper Snoop Dogg, suggests a continued lull in the music NFT sector. The tweet, posted on July 22, 2025, stated, > "We're not back until Music NFTs are back," reflecting a sentiment that the market has yet to recover its former vigor. This statement comes despite numerous market analyses projecting substantial growth for music NFTs in the coming years.
Cozomo de’ Medici gained significant attention in the NFT space, acquiring a collection reportedly worth millions. In September 2021, Snoop Dogg publicly claimed the identity of Cozomo de’ Medici, a revelation that further amplified the collector's profile within the digital asset community. The persona, named after the Renaissance-era Florentine banker, has been a vocal proponent and investor in digital art and collectibles.
The broader NFT market experienced a peak in early 2022, with music NFTs seeing a specific surge in March and April 2021, generating tens of millions in sales. However, this period of intense speculation was followed by a sharp downturn, often referred to as a "crypto winter," where trading volumes plummeted by as much as 97% by September 2022 from their peak. This significant correction led to widespread skepticism and a perception of market stagnation.
Despite the historical volatility and the sentiment expressed by Cozomo de’ Medici, recent industry reports paint a more optimistic picture for the future of music NFTs. The global Music NFT Market was valued at approximately $2.85 billion in 2024 and is projected to grow to $3.65 billion in 2025, with some forecasts anticipating it could reach $26.69 billion by 2033, exhibiting a compound annual growth rate (CAGR) of over 28%. This projected expansion is driven by increasing adoption of blockchain technology in the music industry, offering new revenue streams and direct fan engagement opportunities for artists.
The disparity between the perceived market state by influential figures like Cozomo de’ Medici and the optimistic financial projections highlights the complex and evolving nature of the digital asset landscape. While the market may not yet feel "back" to its speculative highs for some, underlying trends suggest a foundational growth and increasing utility for music NFTs in the long term.