Doodles, a popular NFT project, recently announced that it would pivot away from being an NFT project and instead become a leading media franchise. This move is intended to focus on the project’s most loyal collectors and move away from financial speculators.
The project, which was launched in October 2021, has grown to reach a valuation of $704 million according to a September 2022 funding round. Doodles boasts iconic musician Pharrell Williams as its chief brand officer, and the project has gained a considerable following in the NFT community. However, despite the project’s success, some Twitter users have pointed to perceived problems with the project, such as its recent lack of communication and a March 16 NFT sock drop.
Jordan Castro, one of the project’s co-founders, who goes by the pseudonym “poopie” online, made the announcement on the project’s Discord channel. He said that the team was trying to go from a startup to a leading media franchise, and that Doodles was no longer an “NFT project.” He also said that the project would focus on its most loyal collectors and that…
