What are Doodles NFTs?

What are Doodles NFTs?

What are Doodles NFTs?

At the height of the NFT boom last year, hundreds of projects flooded the market, but only a few achieved blue chip status and still hold value today. One of those is the Doodles NFT collection on Ethereum.

    What are Doodles NFTs?

    Minted on October 17, 2021, Doodles is a collection of 10,000 PFP (profile-picture) NFTs. It’s become one of the most successful NFT collections since in terms of sales volume and brand awareness.

    NFT Doodles
    Doodles NFT collection

    Doodles’ vision is to become one of the world’s leading producers of media and entertainment through the power of Web3 and a community-powered approach.

    Similar to the claims of other popular collections, like Bored Ape Yacht Club, Doodles aims to build a brand that extends beyond their initial 10,000 NFTs in areas that includes gaming, music, and events, most of which undoubtedly will favour Doodles NFT holders.

    Doodles is community-driven and has a treasury currently worth millions of dollars. Doodles NFT holders can submit and vote for proposals that require funds from the treasury, such as events, contests, collaborations, etc.

    What are Space Doodles NFTs?

    On February 28, 2022, Doodles launched their first companion collection called Space Doodles. Unlike other major collections that gave their holders a secondary independent NFT, Doodles chose to do things differently.

    Doodles NFT prices
    Space Doodles NFTs

    Space Doodles are personal spaceships for your Doodle. All Doodles NFT holders can claim one, which turns your Doodle into a Space Doodle. You can’t hold both, but you can always return your Space Doodle safely from space to receive your Doodle again.

    This mechanism did cause some confusion initially. Some sold their Space Doodle for a low price not knowing they forfeit their original Doodle as the two are connected. However, it does allow for a non-dilutive way to introduce secondary collections.

    Each Space Doodle has various traits and stats that determine its competency, including piloting ability, mechanical knowledge, bladder management, etc. While the Space Doodles NFTs have no utility at the time of writing, they will be used in future Doodles experiences, mainly in gaming.

    What are Doodles 2?

    On June 28, 2022, Doodle released a trailer for Doodles 2, their next big product the focus of which is to expand the Doodles brand beyond an audience of just 10,000. Doodles has released two new NFTs leading up to the launch of Doodles 2:

    The Dooplicator was released on May 12, 2022, and is one functional piece of Doodle machinery containing nebulous Doodley matter.

    The Genesis Box was released on June 29, 2022, which contains a rare assortment of apparel and accessories for Doodles 2.

    What Doodles mean
    What are Doodles NFT

    According to Doodles, “Doodles 2 is a mass-market, identity-focused NFT that lets its collectors express themselves with wearables, animated characters, fully-licensed music and more. You can mix and match wearables on top of your Doodles 2 to suit your vibe.”

    Doodles raises $54 million

    On September 13, 2022, Doodles raised $54 million at a $704 million valuation. The funding round was led by Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian.

    How much Doodles is worth

    While the news had little effect on the Doodles NFT price, it does signal a greater interest among VC firms and non-crypto actors to participate in the NFT ecosystem, especially one like Doodles that have their sights set further than a simple collection.

    According to Doodles, they are “using the funding to rapidly acquire a world-class team of engineers, creatives, marketers and business executives. As well as to fund product development, acquisitions, proprietary technology, media, and collector experiences.”

    How to buy and receive NFTs

    If you want to buy a Doodles NFT, get the Exodus Web3 Wallet and head to the Doodles NFT collection page on OpenSea.  Take the stress out of viewing your newly-purchased NFT with the Exodus NFT Gallery:

    • Receive, store, and view your NFTs from different chains (currently supporting Ethereum and Solana NFTs) all in one application
    • Easily connect to the OpenSea and MagicEden NFT marketplaces to purchase the hottest NFT collections from the safety and comfort of ExodusManage your NFTs on mobile, desktop, or your web browser!

    This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

    Get insider crypto knowledge and product updates from the world’s leading crypto wallet
    Sign me up