Doodles’ Dooplicator collection reaches roughly $20 million in trading volume on OpenSea less than 24 hours after its launch, indicating healthy appetite for the forthcoming Doodles 2 collection.
The floor price of the Dooplicator collection is roughly $1,000, with volume having touched 12,900 ETH on OpenSea at press time.
Dooplicator Activation Lauded by Community
Community reaction around the Dooplicator collection was mostly positive. Owner of Doodles #8221 Qponde.eth lauded the simplicity of creating wearables.
Twitter user Archie9Lives, who owns MAYC #12614 from the Mutant Ape Yacht Club collection and is followed by Doodles, added that the successful Dooplicator launch means that Doodles 2 will succeed.
Owners of original Doodles use Dooplicators to generate wearables for the upcoming Doodles 2 avatar collection. The wearables will be generated from traits from one of the 10,000 existing Doodles on Ethereum. Existing Doodles holders can sell the rights to their characters’ attributes on the Dooplicator marketplace.
Dooplicators at different rarity tiers generate various quantities of wearables. For using the Dooplicator, the user will receive a Beta pass, granting them early access to Doodles 2, where they can use their new wearables. Firmware updates will unlock further benefits for Dooplicator holders. Newly-minted wearables are tradeable on Flow’s NFT marketplace Gaia.
Digital artist Burnt Toast, Jordan Castro, and Evan Keast created the original Doodles profile picture non-fungible token collection on Ethereum.
Despite positive community reaction, Doodles CEO Julian Holguin admitted that trading original Doodles rights could be improved.
Houlguin joined Doodles from Billboard in May 2022.
Yuga Labs Success Suggest Doodles is Moving in the Right Direction
Doodles recently raised $54 million through a funding round led by Reddit co-founder Alexis Ohanian’s Seven Seven Six venture firm to fund proprietary technology and several key hires in the engineering, marketing, creative, and C-suite teams.
In June 2022, Doodles hired musician and producer Pharrell Williams to executive produce an upcoming Doodles Album, Doodles Records: Volume 1. Doodles will layer music from the album on top of the forthcoming Doodles 2 collection. The “Happy” singer serves as Doodles’ chief brand ambassador.
Doodles also recently agreed to purchase a Disney-affiliated animation studio Golden Wolf to produce long-form content. Its CEO Julian Houlguin, formerly from Billboard, is reportedly talking with Hollywood creatives and producers to create a Doodles TV show.
While there is no telling if these partnerships will contribute Doodles’ longevity, another successful NFT project offers clues.
Bored Ape Yacht Club creator Yuga Labs raised $450 million in a March 2022 funding round led by a16z. Subsequent efforts to expand the brand’s appeal through its Otherdeeds virtual land project resulted in $600 million in revenue. Its Sewer Pass NFTs grant holders entry into a new play-to-earn game called Dookey Dash. After Yuga Labs announced Dookey Dash in mid-Jan. 2023, sales of the Bored Ape Yacht Club soared 171%.
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