NFT Doodles project turns into a media company

Jordan Castro, the founder behind the famous NFT brand Doodles, revealed that the project is transforming its long-term vision into a leading “media unit”.

NFT Doodles project turns into a media company

In a statement on Discord on March 16, Jordan Castro aka Poopie, owner of the “unicorn” NFT project Doodles, shared his plans regarding the company’s upcoming directions, which Poopie said would “go beyond the label of an NFT project”.

Poopie has revealed many of her ambitions in the near future, including the project’s direction to become a top media brand. He is also discussing strategies to limit the current “speculation” problem in the NFT market. Instead, the founder wants to create real “intrinsic motives” to attract users.

In response to the question that Doodles may be moving away from NFT and blockchain, Poopie affirmed that the project continues to stick with this technology and that NFT is central to what the company will do.

However, it seems that the news of “pivot” to a new model of Doodles did not receive many positive reactions. The floor price for one NFT Doodles is 3.4 ETH, or about $5,700, which has dropped more than 8% in the past 24 hours.

Floor price movement and key NFT parameters of Doodles, referenced data from NFT Floor Price on the afternoon of March 17, 2023

Doodles is a collection of 10,000 NFTs launched in October 2021, attracting more attention thanks to its eye-catching and “decent” design compared to other projects. In September last year, Doodles attracted attention with a “huge” fundraising of $ 54 million, with a business valuation of up to $ 704 million.

Over the past year, Doodles has focused its efforts on expanding its ecosystem, collaborating with such big names as former Billboard President Julian Holguin, musician and producer Pharrell Williams as brand manager. Previously, Doodles announced it would expand into NFT gaming, music and intellectual property. In January 2023, the company acquired the Golden Wolf animation studio as part of realizing this roadmap.

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