All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any kind of investment.
all about cryptop referances
Pharrell tries to save Doodles. The award-winning singer leads the pastel-hued NFT project into a new era. What is Pharrell doing to help Doodles?
Doodles was recently caught saying that it is no longer an NFT project. This move backfired terribly at first, but now we’re starting to see the direction the project is moving towards. The collection abandons its PFP roots in favor of fully customizable characters courtesy of Pharrell and Adidas.
Doodle 2 Character Builder was just added to the Stoodio app last week. The character builder allows owners to choose their avatar’s clothing and attributes. Doodles is sending 300 “Pharrell Packs” to some lucky holders as part of the rollout.
The Pharrell Pack includes digital apparel from Adidas, Human Made, Billionaire Boys Club and Ice Cream. Each bundle also contains a token that can be redeemed for one piece of physical clothing. This mix of the physical and digital appears to be part of the project’s strategy going forward.
The 300 packs will go to Doodle owners who meet certain criteria. To qualify, you must own a Doodles NFT and use the Dooplicator NFT to create digital clothing for Doodle. Presumably more than 300 people will qualify for the drop. To solve this problem, the team will implement a lottery system to pick winners.
However, Pharrell’s involvement does not end there. Julian Holguin, CEO of Doodles, described Pharrell as “integral” in the collection’s development and mentioned that he has “day-to-day influence” over the brand in his role as Chief Brand Officer.
To that point, Pharrell is also producing an album inspired by Doodles. Columbia Records has already agreed to release the record when it is finished. If Pharrell can capture some of the success of his previous breakout week, “Happy,” this record could bring a lot of interest to the NFT collection.
After launching in October 2021, Doodles quickly became one of the most successful NFT projects in the space. Collectors loved the artist Burnt Toast’s whimsical characters and the floor price shot above 10 eth. Since then, however, the project has struggled to live up to expectations.
Many owners complained about the lack of communication from the team. As the meta shifted towards tool-based projects, Doodles suffered. The project released various new initiatives such as Space Doodles, Dooplicators and Genesis boxes, but the market did not respond. As of today, the project’s floor price is 2.97 ETH.
The team announced Doodles 2 at Consensus 2023. Owners will be able to customize Doodles with digital clothing and accessories. Doodles 2 runs on the Flow blockchain, a departure from the project’s ETH-based roots.
When a user adds clothing to their avatar, the NFT owns the assets at the blockchain level. As a result, holders can sell fully clothed avatars as a complete package with all clothing included. Joe Ranzenbach, head of product management for Doodles, hinted that Doodles has a “pipeline of brand partners” lined up for future releases.
Although Doodles have had a rough stretch of late, they have continued to build throughout the NFT bear market as evidenced by their collaboration with Pharrell and continued to push the envelope with Doodles 2.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any kind of investment.