I’m Out: Snoop Dogg Resigns From Esports Company FaZe Clan As Stake Plummets
Snoop Dogg is no stranger to using his crossover appeal to collect his coins.
With his hand in everything from apparel to cereal and, of course, his own cannabis company, no one was surprised to see him joining in on the esports craze when he announced partnering with FaZe Clan.
“As the original internet kid and first generation gamer, Snoop more than anyone has always understood the cultural connection between music, lifestyle and gaming,” FaZe Clan’s Chief Strategy Officer Kai Henry said at the time, according to The Hollywood Reporter. “Today, Snoop is a leading voice in the emerging Web3 community and we have tremendous plans to create together in the metaverse, driving new engagement opportunities for both of our fanbases.”
Since making things official following his performance at the Super Bowl in 2022, things have seemed to sour between the company and the Death Row Records owner, with the latter walking away from his role on the Board of Directors. Snoop was not alone in his decision.
As FaZe Clan has failed to live up to its projected $91 million in sales in 2022, falling short by over $20 million, many executives also resigned. According to Sportico, the West Coast rapper’s stock in the company hit $7.4 million in the summer of 2022. The site also reported that he received restricted-share awards that totaled 320,000 shares of FaZe stock, equivalent to $3.9 million, at the time. His total earnings as a member of the FaZe Clan and its board of directors for a little over a year will be an estimated $53,184 and he will “probably” exit the partnership with close to 106,000 FaZe shares.
It seems that Snoop’s interest in the company was birthed from his son, Cordell Broadus‘, involvement. “The youth identifies with their brand and that’s something my son Cordell knew, which is why he brought us together,” he said at the time.