In a stunning growth, NFT model Doodles introduced the launch of its official token, DOOD, on the Solana blockchain. In addition to Solana, Doodles has plans to bridge the DOOD token to the Base community.
Doodles To Launch DOOD on Solana
In a current X post, Ethereum NFT model Doodles launched its official token, DOOD. As per the announcement, the DOOD token will initially launch on the Solana community, with future enlargement plans to Ethereum’s Layer-2 Base.
Notably, Doodles is a group of 10,000 generative NFTs minted on the Ethereum blockchain. According to the X put up, Doodles is an “onchain, world-building collective, driving billions of views across our animations, short films, and partnerships with the biggest brands in the world.”
Reportedly, Doodles will roll out DOOD with a provide of 10 billion tokens. Out of the entire provide, 68% might be allotted to the Doodles neighborhood. To be particular, the platform allocates 30% to the neighborhood and reserves 25% for its ecosystem fund. The remaining DOOD tokens might be distributed among the many staff (17%), “new blood” (13%), liquidity (10%), and the corporate (5%).
Scott Martin Steps in as New CEO
In late January 2025, Scott Martin took the reins as the brand new CEO of Doodles. He wrote, “We’re moving to a vision with a strong bias for risk, disruption, radical transparency and the authenticity that made us who we are in the first place.”
i’m stepping in as CEO of doodles
we’re shifting to a imaginative and prescient with a robust bias for danger, disruption, radical transparency and the authenticity that made us who we’re within the first place
concepts remodel societies. right this moment, the disruptors are available in many types: NFTs rewriting… pic.twitter.com/Mk7G22vTMI
— burnt toast (@burnttoast) January 28, 2025
Recently, Martin narrated the platform’s journey, explaining their wrestle to please crypto-native holders. He acknowledged, “We’re trying to be a bed and a couch. And ultimately, it’s uncomfortable.”
Based on his statements, it seems that the DOOD token launch is Doodle’s effort to re-engage with the neighborhood after a sequence of unsuccessful initiatives. Martin cited Doodles’ partnership with Rubik’s Cube as a failed technique, the place promoting digital wearables for avatars was a misguided transfer.
Calling consideration to the DOOD launch, Martin posited that the token would hit the market initially as a memecoin. However, he intends to not name it a memecoin. He additional added that DOOD would evolve right into a “utility coin” powering a gamified Doodles ecosystem, as soon as US securities legal guidelines are navigated. The US Securities and Exchange Commission (SEC) is presently contemplating an overhaul of crypto regulations.
Doodle’s DOOD Follows Memecoin Frenzy
Notably, Doodle’s launch of DOOD coincides with the rising memecoin craze, amplified by the thrill round Donald Trump’s TRUMP token. Moreover, it additionally aligns with the rising memecoin pattern within the NFT market, with Doodles becoming a member of fashionable initiatives like Pudgy Penguins and Azuki.
In December 2024, Pudgy Penguins launched its memecoin, PENGU, sparking widespread consideration. Soon, the PENGU token skyrocketed in worth, yielding substantial profits for investors. Similarly, in January 2025, Azuki introduced the launch of its cryptocurrency, ANIME.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of expertise in blockchain, web3, and fintech spheres. She has established herself as a educated and interesting voice within the cryptocurrency and blockchain house. Her expertise as an Assistant Professor in English Language and Literature has additional added to her quest for crafting informative, well-researched, and accessible content material.
Disclaimer: The offered content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
