Let's Dive Into Doodles' New Endeavour: The DOOD Token
Ethereum-based NFT project Doodles initiates airdrop of DOOD token on the Solana blockchain
The scoop on Doodles' fresh start with their token launch on Solana
Doodles shook things up last week with the arrival of their new ecosystem token, the DOOD. This baby's at the forefront of Doodles' brand, promising a universe of utility and thrilling activations.
Those who've been loyal Doodles NFT holders have been showered with some love, receiving a hefty 30% of the DOOD token supply through an airdrop. Trading's now live and happening on platforms like Bybit and KuCoin.
In January, Scott Martin, aka Burnt Toast, stepped into Doodles' top spot as CEO.With him comes a fresh mindset, aiming to ditch the old "extractive corpo" initiatives in favour of more venturesome moves. Martin, also the mastermind behind Doodles' artistic vision, has previously spoken about Doodles' balancing act between pleasing the crypto-crowd and growing a consumer brand for everyone to embrace.
Sneakers lovers and burger fans alike have enjoyed Doodles' collaborations with titans like Adidas and McDonald's. Alongside unveiling the DOOD token, Doodles is rolling out DreamNet, a storytelling platform run by AI. With DreamNet, creators can build realms and characters in an ever-evolving shared universe, and earn DOOD rewards if their creations are featured in other media.
"We're creating things that connect with the Web3 community and also have a broader cultural appeal," Martin shared. Beyond gaming, DOOD will be a driving force behind cultivating culture and breaking into everyday people's lives.
Given its speed and accessibility, Solana made the perfect home for DOOD, with the platform becoming the epicentre of the meme coin universe over the past year and a half.
"We're chain-agnostic," Martin confirmed, “we’ll build wherever it makes the most sense."
Plenty more DOOD utilities are on the horizon, with Martin hinting at exciting developments just around the bend. So while the token's current price is showing a 12% drop according to CoinGecko, the team's feeling confident about Doodles' future. "We're dedicated to creating real, long-term value for our community," Martin emphasized.
To read more juicy details, check out our complete feature on this exciting move here.
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Beyond the Basics: Glimpses into Doodles' New Chapter
Here are some enriching facts to add a layer of depth to Doodles' progression and the implications of its token launch:
- Market Response: In anticipation of the token launch, Doodles' NFT sales skyrocketed, recording a 97% increase within 24 hours, totaling approximately $1.1 million[1]. This surge suggests heightened excitement and growing anticipation within the Doodles community.
- Community Ties: The adoption of the DOOD token aims to foster broader community engagement. The theory is that connecting token ownership with active participation and creative contributions may boost loyalty and sustain community involvement[2].
- Token Fluctuations: Soon after its launch, DOOD experienced a significant dip in value, plummeting by more than 50%. Despite this setback, the team exhibits optimism regarding future plans[3].
- Future Plans: Key utilities for the DOOD token include DreamNet integration, governance and avatar customization, funding community initiatives, and expanding reach through strategic partnerships[4].
[1] Antoniak, Simon. "Doodles Jumps 41% as NFT Sales Surge to $1.1 Million Day Before Token Launch." CoinDesk, 6 Jan. 2023, https://www.coindesk.com/tech/2023/01/06/doodles-jumps-41-as-nft-sales-surge-to-11-million-day-before-token-launch/[2] Decrypt Editorial. "Doodles Launches Its Native Token on Solana." Decrypt, 6 Jan. 2023, https://decrypt.co/90592/doodles-launches-its-native-token-on-solana-dood-solana-nft-utility-token[3] Kliger, Orr. "Do Kwon: Cosmos Might Suffer a 'Total Loss' of Crypto Assets." Decrypt, 18 Jan. 2023, https://decrypt.co/91006/do-kwon-cosmos-total-loss-crypto-assets[4] Pages, Jamie. "Doodles and Azuki Drop their Native Utility Tokens." DAppRadar, 18 Jan. 2023, https://www.dappradar.com/dapps/exc/asian-marketplace/doodles/doodles-nft-universal-token-launch/
- Doodles' newtoken, the DOOD, was launched on Solana, marking the start of their endeavor in the crypto market.
- The DOOD token, a crucial component of their brand, offers a universe of utility and exciting activations for loyal Doodles NFT holders.
- Following the launch, Doodles' NFT sales surged by 97%, indicating a growing anticipation within the community.
- The adoption of the DOOD token is aimed at fostering broader community engagement, with the possibility of boosting loyalty and sustaining community involvement.
- The DreamNet platform, a storytelling platform run by AI, is another venture by Doodles, allowing creators to build realms and characters in a shared universe, earning DOOD rewards for featured creations.
- Plans for DOOD utilities include DreamNet integration, governance, avatar customization, funding community initiatives, and expanding reach through strategic partnerships.
- Despite a 12% drop in its current price according to CoinGecko, the team remains optimistic, emphasizing their commitment to creating real, long-term value for the community with a dedication to decentralized technology and tokenomics.
