Blue Chip NFTs 101 – Let’s Travel To Space With The Doodles Collection
June 14 2022 - 12:59PM
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Veterans of the NFT big leagues, the Doodles let the CryptoPunks
and Bored Apes take the spotlight and have been constantly working
behind the scenes. Even though they’re not a worldwide brand like
the other two, everybody’s seen the Doodles. They just don’t
remember when or how those little drawings. Don’t let that fool
you, though. The collection’s total sales are $496M,
according to CryptoSlam. So far. The generative collection
consists of 10,000 Doodles that “are made up of hundreds of
exciting visual traits designed by Burnt Toast” AKA Scott Martin.
The other two members of the team are Evan Keast and Jordan Castro,
who in 2017 rocked the world with the CryptoKitties. The first NFT
project to jam the Ethereum blockchain. This experienced team has
been key to the project’s success and constant expansion. The
Doodles exude class through and through. Their smart contract is
auditable, their roadmap is public, and anyone can easily find them
on the project’s website. An example of great management by an
experienced team is that the Doodles invented whitelisting for
minting events. The team closed the Discord before minting and gave
their first followers, the people who were there from the beginning
the chance to mint first. At first, the community at large saw the
move as a mistake, but they quickly realized how smart the system
really was. According to their website, “hand-drawn Doodles include
skellys, cats, aliens, apes and mascots. The Doodles collection
also includes dozens of rare heads, costumes, and colorways of the
artist’s palette.” According to OpenSea, the current floor price
for a Doodle is 9.7 and the total volume sold by the whole
collection is 133.3K ETH. The Doodles As A Governance Token The
project doesn’t contemplate NFT staking and it avoids the
temptation of creating a new token for their ecosystem. The Doodles
utility focuses on access to off the hook real-life events. More on
that later. In the virtual world, though, they offer their holders
new experiences like the Space Doodles. In addition to that,
each Doodle is a sort-of governance token. A Doodle gives you
voting and participation rights in the sort-of DAO that governs the
whole project. The Doodle holders decide what to focus on next and
control de community treasury, known as the DoodleBank. They have
the right to vote on proposals, on the team and hiring, and on what
to do in live events. Recently, they decided to fund a 3D Doodles
project. The communication flows through the project’s Discord
channel. As it happens with most current NFT projects, this tool is
a crucial part of the puzzle. For example, the Doodles server
recently created a scam alert channel to protect the community from
fraud and to have them monitor the internet for fake Doodles and
people misrepresenting their brand. ETH price chart on Bitstamp |
Source: ETH/USD on TradingView.com What Are The Space Doodles? As a
special benefit to holders, at no cost to them, they can wrap their
Doodles and transform them into Space Doodles. These new NFTs put
the original Doodle into a Spaceship and in a space-like
environment. If you don’t like it or miss your PFP, you can always
switch back to Doodles. You might not want to, though. According to
Open Sea, the Space Doodles’ floor price is 11.8 ETH. Liquidity is
another story, the total volume sold by the whole collection is
1.6K ETH. All art by Burnt Toast himself. The company has also
given the community free swag like the Dooplicator. At the time of
writing, the floor price for these is 2.79 ETH. The Future Of This
Blue Chip Collection You’re only as good as your last hit, and for
the Doodles that could be their real-life event in the South by
Southwest festival. A warehouse painted with the collection’s
characteristic pastel scheme, with screens everywhere, it was the
talk of the town. They also distributed an NFT in association with
paint manufacturers Behr and illustrated by Burnt Toast. Hopefully,
it will be worth something one day. The point is, one of the
objectives of Doodles as a company is to focus on live events and
ultimately become an entertainment company. That’s great for
holders that live in the US, it means that they’ll get access to a
lot of events where the company will distribute secondary NFTs. It
also means that Doodles will be constantly interacting with brands,
artists, and other projects. That continuous activity will push the
brand name out there. Another important benefit for holders
is that Doodles plans to give them property rights. Eventually,
people will be able to launch their own Doodle-related products for
a small fee. Considering that Doodles is a top 10 NFT collection,
we would say most of the marketing work is already done. Read other
Blue Chip NFTs 101 guides: Moonbirds, DeGods, Proof Collective, and
CloneX. Featured Image: Screenshot from the site | Charts by
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