Would anyone have imagined in 2023 that animated characters could be of such high value? The Doodles collection, an array of 10,000 NFTs, has cemented its place as one of the most cherished digital assets in the crypto universe. The Doodles are an eccentric ensemble of humans, cats, apes, skeletons, pickles, among others, each artistically rendered in pastel tones with distinct designs. Yet, their popularity hinges not solely on their artistic appeal.
The Craftsmen Behind Doodles
The creators of Doodles are among the most notable figures in the early Web3 landscape. Jordan Castro, or Poopie, has been part of the renowned CryptoKitties project as a product lead. This project went down in history for bringing the entire Ethereum network to a halt in 2017 due to its overwhelming success. The popularity of Doodles NFTs and their encompassing ecosystem isn’t merely due to their striking appearance; there’s more to the story.
Exploring the World of Doodles
Doodles is often cited as a prime example of the effective utilization of NFTs to establish a digital brand. The first batch of Doodles NFTs was minted on October 17, 2021, presenting a broad spectrum of colors, sizes, and 265 distinct pairs of traits. After a pre-sale, the original Doodles NFTs were snapped up within minutes at a 0.123 ETH floor price. By mid-February 2022, the floor price soared to over 4.469 ETH, equivalent to roughly $7,000.
One unique aspect of Doodles in the NFT landscape was the team’s strategy post-launch. It was among the first to close its project Discord once the membership reached about 1,000 people. This decision sparked controversy. Critics claimed it was a strategy to create artificial scarcity, while others believed it was a step to ensure the roadmap’s completion. This proactive move by the Doodles team to foster a dedicated community is seen by many as a wise decision.
The project made headlines in May 2022 with the addition of Julian Holguin, a former Billboard executive, to the Doodles team as CEO. His role was pivotal in intellectual property expansion. Subsequently, Pharrell Williams, the famous music artist, joined as Chief Brand Officer and started working on the “Doodles Records: Volume 1” music album. Alexis Ohanian, Reddit co-founder, also became a part of the Doodles journey. His 776 venture firm led a $54 million fundraising round that shot the entire ecosystem’s valuation to $704 million.
The Genesis of Doodles
The credit for the creation of the popular NFT collection primarily goes to Jordan Castro (Poopie), Evan Keast (Tulip), and Scott Martin (Burnt Toast). Castro, a blockchain developer since 2013, met Keast while working on CryptoKitties at Dapper Labs. They conceived an idea for an NFT project with a DAO in early 2021, ensuring community control.
However, when Keast met Scott Martin, he was immediately captivated by Martin’s illustrations. Martin, a renowned muralist, designer, and artist, brought invaluable experience from his work with global giants like Dropbox, Facebook, and Google. The trio, with WestCoastNFT, built the original Doodles collection in preparation for the Fall 2021 initial launch.
How Doodles Nurtured Its Robust Community
The blend of experience and innovative drive behind the Doodles NFT project cultivated a remarkable following. The founders, aware of the need to distinguish themselves from other NFT launches, focused on Doodles’ creative essence. Early community members appreciated the initial mint price, recognizing the founders’ dedication to establishing Doodles as a viable NFT brand.
our goal is to make a product that’s sticky.
– primary sales revenue % into DAO Treasury
– secondary sales revenue % into DAO Treasury
– 1 @doodledaonfts = 1 vote on how to put that capital to work
– what will we create together this year and the years to come? #doodledao pic.twitter.com/dNfb0gFZFj
The Doodles team’s commitment to community empowerment was reflected in the establishment of the DoodleDAO treasury, allowing users to have one vote per Doodle held. This democratic structure enabled community members to decide on team scaling, details for live events, and funding for specialized projects.
The Continuous Growth of Doodles through Innovation
The innovative offerings from the Doodles ecosystem propelled the project to new heights. Space Doodles, launched in February 2022, comprised playful characters in psychedelic, space-centered scenes. The average sale price of a Space Doodles NFT by February 2023 was about $8,000.
In June 2022, Doodles launched its Genesis Box, an array of NFT wearables for the upcoming Doodles 2 NFT release. Out of 24,000 boxes, 4,000 Doodles holders procured their digital boxes during NFT.NYC, and the rest were auctioned off.
we like it here, but let's explore what's next. pic.twitter.com/2HwEDicKf8
Why Doodles Holds the Forefront in NFTs
With an experienced team and community-focused approach, the Doodles NFT ecosystem continues to be one of the most sought-after digital asset collections in the crypto world. NFT holders have the unique opportunity to influence the project’s future through a democratic voting process. This collective approach and the potential to monetize assets through merchandising fortify Doodles’ colossal potential as a global entertainment and artistic brand.