What is Doodles NFT? - All Information About a PFP NFT Collection
This article will cover all information about the What is Doodles NFT, and other fact one of the most popular PFP NFTs in the market.
What are Doodles NFTs?
Doodles NFTs originated as a collection of 10,000 non-fungible tokens (NFT) consisting of colorful artwork created by Burnt Toast, the alias of Canadian artist Scott Martin. Martin and former Dapper Labs workers Evan Keast and Jordan Castro conceived the original concept for the project.
The hand-drawn pastel imagery consists of characters sporting animal costumes, colorful jewelry, sunglasses, and more. Non-human figures, such as pickles, cats, skeletons, and apes, are found scattered throughout the collection. Similar to other collections such as CryptoPunks and Bored Ape Yacht Club, these features have been combined to provide over 100 rarity traits that determine their appeal and secondary market value.
Doodles NFTs Utility
According to the crew, the purpose of the initiative is to offer happiness to everyone who sees them. Since then, the brand has evolved beyond the first 10,000 NFTs, releasing additional NFT collections, hosting elaborate live events, and selling items on its website. The majority of these additional advantages are exclusive to Doodle NFTs holders.
Holders also have control over the Doodles Community Treasury, also known as the Doodlebank, where they can vote for community-beneficial experiences, activations, and campaigns. Additionally, users can submit early recommendations that are voted on by the community prior to implementation by the team.
Half of the 5% royalty collected from OpenSea's secondary sales income is also contributed to the community fund. According to the initiative, the funds are used to expand team and begin experimenting with methods to expand the Doodles brand."
Doodles NFT - An Entertainment Platform
The Doodles NFTs project's crossover from the blockchain into the real world is arguably one of its most intriguing characteristics. This is because Doodles strives to be more than just a PFP initiative. As co-founder Keast has stated on various occasions, Doodles NFTs's ultimate goal is to become a comprehensive Web3 entertainment firm, and the team has already taken a number of efforts to make this a reality.
Doodles have already designed two immersive in-person events to coincide with yearly NFT events. First, during Art Basel Miami in December 2021, the Doodles NFTs team collaborated with The Heart Project to organize a large-scale event. Heart Basel Miami, as it was dubbed, provided the NFT community with their first sight of Doodles as an entertainment firm. According to the budget proposal, the event was organized and performed in a relatively short period of time. It comprised a gallery, exclusive merchandise, live music performances, and more.
Doodles released a free companion NFT collection for existing holders called Space Doodles earlier this year. The project employs "wrapped NFTs," a "non-dilutive" solution in which the original NFT is stored in a digital vault, and a smart contract is used to generate a Space Doodle. This means that a Doodle NFTs owner can only have one Doodle or one Space Doodle at a time and that the project did not add more NFTs to the circulating supply. Users can unwrap their Space Doodle and retrieve their original Doodle NFT at any time.
Space Doodles and associated on-chain stats (such as the NFT's piloting ability and mechanical knowledge, for example) will be used in future Doodles experiences, according to the team, and are part of the brand's expanding "universe."
Doodles NFTs Team
The creative power behind the project is illustrator, designer, animator, and muralist Scott Martin. In January 2022, he told Fortune that his priority is "creating good work and reaching a broad audience." Before creating Doodles NFTs, he created artwork for Google, Skillshare, Dropbox, and Adobe.
Evan Keast, also known as "Tulip," is the project's brand ambassador. He once worked for Dapper Labs and was in charge of marketing for the popular blockchain game CryptoKitties.
Poopie, a pseudonym for Jordan Castro, is a product specialist who worked alongside Keast at Dapper Labs as the product lead for CryptoKitties.
The team appointed former Billboard President Julian Holguin as partner and CEO in May 2022 to "lean into music, gaming, premium content, and consumer products."
Pharrell was hired as the project's chief brand officer in June 2022 to produce "music projects, animated film & TV, and creative direct product launches," according to a tweet from the initiative.
IP Rights for Doodles NFTs Holders
See more: https://www.nftciti.io/collections/159
Doodles, LLC owns the Doodles brand and associated intellectual property. According to the Doodles Terms of Service, they also own the rights to "images, names, logos, 3D layer files, trademarks, the website, the ability to mint 3D or voxel or other versions of Doodles NFTs, the look and feel of the user interface, the smart contract code, and anything else not expressly granted by subsequent licenses."
Doodle holders may utilize their NFT as a PFP, sell it, or retail it for up to $100,000 through the sale of actual things; but, after hitting the $100,000 mark, they must negotiate official licensing conditions with the Doodles NFTs team. Holders may also use the complete Doodle in their artwork, but larger licensing agreements must be discussed with the firm.
The company states that it is "open" to holders using Doodles NFTs in a variety of commercial contexts. However, a Doodle can only be utilized in its "fullness" and holders are prohibited from minting new NFTs that are considered derivatives of their character.
In November 2021, for instance, a group of Doodles NFTs holders suggested a derivative project named Noodles to the community. The food-based business, which was influenced by Burnt Toast's visual style, was the first derivative enterprise formally approved by the Doodlebank.
Doodles NFT Fundraise
Doodles have declared its intention to become one of the world's largest consumer brands. The brand announced in September 2022 that it had raised $54 million in equity funding, which would be used "to rapidly acquire a world-class team of engineers, creatives, marketers, and business executives, as well as fund product development, acquisitions, proprietary technology, media, and collector experiences."
Doodles appears poised to build itself into a genuinely global IP via ventures in the music, cultural, and entertainment industries, following the conclusion of its investment round. Obviously, the blockchain, the technology that made Doodles possible in the first place, remains at the center of everything.
Hopefully, this article provides useful insights about the Doodles NFTs collection as well as the Doodles project.
Where can I buy Doodles NFTs?
The majority of NFTs were sold on the Doodles website. Doodles are currently available for purchase on a variety of secondary markets, including OpenSea, Nifty Gateway, NFTciti, and LooksRare.
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