‘DOOD’ Token Revealed: Doodles’ Latest Play in the High-Stakes NFT Arena

On Thursday, the brand’s X account proclaimed the arrival of *DOOD*, its official blockchain asset. “Introducing DOOD, the official token of Doodles,” the announcement declared. Known for collaborations with Pharrell Williams and Adidas, Doodles ranks as the 11th most lucrative NFT venture historically per cryptoslam.io data.

Since its inception, the project has amassed $702.77 million in transactions, with 5,560 distinct wallets holding at least one Doodle. “We’ve been on a white-hot trajectory, igniting a cultural firestorm through the power of decentralization,” the team stated. “Now, with our global community by our side, we’re building a movement that will stand the test of time.”

‘DOOD’ token distribution.

A detailed allocation plan reveals that 68% of tokens will flow to community members, while 17% is reserved for core contributors and 5% for corporate reserves, both locked under a one-year freeze followed by staggered three-year releases. This move arrives amid prolonged valuation slumps for Doodles and other blue-chip NFT collections.

In May 2022, Doodles’ minimum entry price peaked at nearly 20 ETH; it now hovers around 4.63 ETH. However, recent activity shows a 16% uptick in floor price over 24 hours, hinting at renewed momentum since the latest token announcement. The blockchain art sphere has long observed a curious phenomenon: NFT collections introducing auxiliary digital currencies often experience appreciable boosts in their respective NFT collections’ market worth and sales.

This catalytic effect resurfaced in the same manner when Pudgy Penguins unfurled plans for its proprietary token. Doodles’ strategic pivot aligns on the same day as Opensea’s disclosure of its SEA token initiative. Within a milieu once buzzing with frenetic activity, now haunted by digital silence, such tokenized gambits resemble calculated attempts to electrify a languishing NFT economy.

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