Crypto Entrepreneur Cordell Broadus discusses NFTs, how rapper Nipsey Hussle helped him get into the crypto world, and how he introduced his dad, Snoop Dogg, to the crypto business as well.

Video Transcript

JENNIFER SCHONBERGER: Welcome back to this Yahoo Finance special on crypto in 2022, presented by Intuit Turbotax Live. I'm Jennifer Schonberger. Cordell Broadus, son of rapper and businessman Snoop Dogg, is making his mark on the crypto sphere, helping to shape the future of NFTs and crypto gaming. He is the inspiration and drive behind Snoop Dogg's foray into the metaverse and crypto. And he joins me now to discuss the future of crypto, as well as his latest ventures. Cordell, welcome to the program. It's great to have you.

CORDELL BROADUS: No, thank you for having me. Thank you for having me, Jennifer. I really appreciate this.

JENNIFER SCHONBERGER: It's great to have you. So tell me, to get the conversation started, how did you decide to get involved with crypto? And how did you get your dad to buy in?

CORDELL BROADUS: So I was introduced to crypto in 2017 by Nipsey Hussle. I had told him that I was making x amount of money per month. And he told me, he was like, invest in cryptocurrency and buy real estate. And I didn't listen to him right away. And once the market crashed in 2018, I thought it was a opportunity for me to buy in. And that's when me, and Nick Adler, and the rest of our team, we kind of put our heads towards going into crypto, going into NFTs, and building the Snoop brand in the metaverse.

JENNIFER SCHONBERGER: And how did you get your dad to buy in? Did you go to him and say, hey, dad, I've got involved with crypto, here's how it works, here's why you should get in?

CORDELL BROADUS: He's more of a show me don't tell me guy. So I had to show him what we could do in this space. And our first deal was presented by crypto.com. And it made seven figures. And then that's when we kind of got his attention. And he started to see the NFT hype was real.

JENNIFER SCHONBERGER: I know you've released a series of NFT projects that have been successful. You're consulting for Sandbox and Moon Bay. Tell me, what are some applications you see now that we haven't seen quite yet as far as NFTs are concerned in the gaming space, as well as the entertainment industry? How are you looking to shape that?

CORDELL BROADUS: I think there's a lot of cool opportunities to get in. But there's also a lot of not so good projects. You just got to be wary of that and keep your head on a swivel. Because like any industry, there's going to be a lot of good, and there's going to be a lot of bad. And if you just follow those blue chip projects like the Sandbox, Bored Apes, the CryptoPunks, the Gala Games, the World of Women, I think once you immerse yourself in those communities, then you'll be directed to those cool projects that's going to last long.

JENNIFER SCHONBERGER: How do you see crypto shaping gaming?

CORDELL BROADUS: I think everything is essential. Everything's complementary. And this whole space is cross-pollinated. So the gaming is complemented by the music, which is complemented by the fashion, because you can dress your avatar. And I just see it being somewhere where people can socially connect with others and also gain financial wealth.

JENNIFER SCHONBERGER: You've, as we mentioned, released a series of NFT projects. You're consulting for a couple of companies here. What are the newest projects that you're working on? And are you involving your dad in any of them?

CORDELL BROADUS: Yes. My dad is actually my client. So it's so amazing to work with him. And he actually gets to follow my lead for once.

JENNIFER SCHONBERGER: And where do you see NFT applications going in 2022? This seems like a very fast evolving space, and certainly one that's going gangbusters.

CORDELL BROADUS: I think it's going to be even bigger. Last year, every day, there was 50,000 wallets created. And I think this year, it may even double or triple. And the more people that we onboard, the bigger the community, the bigger the state. And everybody can just reap the benefits.

JENNIFER SCHONBERGER: Let's talk about the metaverse, Cordell. How do you see the concept of the metaverse evolving? What is the market opportunity there? And how do you see NFTs being applied?

CORDELL BROADUS: I think NFTs is just the entry point. I think the metaverse is going to be where we spend most of our times because just like when the internet came around, everybody was scared that the internet would take away time from their families, from their friends. But in actuality, it brought people closer because you were able to connect with people thousands of miles away and keep relationships open.

JENNIFER SCHONBERGER: You mentioned your dad is one of your clients. And I know you were the inspiration behind getting him involved in crypto in helping to create Snoopverse which is now on Sandbox. How are you steering that now? How do you see that evolving? Certainly, we've seen virtual real estate go for hundreds of thousands of dollars, if not millions in certain cases.

CORDELL BROADUS: Well, real estate was the first entry point for our Sandbox deal. And now secondly, we have our 10,000 avatar collection dropping February 22. And lastly, we'll be entering into the concert realm with the metaverse and having my father perform, and other special acts. And just giving the community something that's missing.

JENNIFER SCHONBERGER: I wonder to your point, you guys could leverage as artists the metaverse platform or other platforms to try to reach younger individuals who are interested in the music side and then may kind of translate over to the crypto side.

CORDELL BROADUS: I mean, and not even just to speak about music, we can speak about art. Nick Smol is a 13-year-old NFT artist. And his collection dropped last month. And he made over $200,000. And that's life changing. Empowering women artists in the space, and empowering just creatives all over, what have you. And I actually told my dad this. I said, this space kind of feels like the birth of hip hop, how everybody was just mingling with each other, and just freestyling, and making beats, and everything was just fun and new.

It's kind of like the same with NFTs and the crypto space. But you don't have to have big chain. Don't have to have that fast car. You don't have to be a tough guy. So I think it's just a fair playing ground for everybody to reach success.

JENNIFER SCHONBERGER: All right. Well, Cordell, thank you so much for your insight. It sounds like you're working on some exciting projects. We wish you the best of luck. Keep us posted and hope to talk to you soon.

CORDELL BROADUS: Thank you, Jennifer. Thank you for having me.