After the Covid-19 shutdown, during which time people were only allowed to be in their houses, they began to experiment with getting their hands on virtual tokens. Cryptocurrencies have maintained their position as the most valuable assets on the market for the past two years. However, it does not appear like 2022 will be its year, given the values of famous cryptocurrencies such as Bitcoin and Ethereum have both experienced large decreases recently. Non-fungible tokens, often known as NFTs, are becoming increasingly popular as gloomy emotions in the cryptocurrency market continue to intensify. The NFTs continued their successful run into 2022, continuing where they left off in 2021. One example of a project like this that is being pushed by its community is the immensely hyped Doodles NFT collectibles, which feature artwork created by Burnt Toast.
What exactly are “Doodles”?
Doodles is a generative NFT collection that features a pastel color palette and boasts 10,000 individual creations that are pfp-ready. The out-of-the-box illustrations that were shown in a variety of bright colors were an instant popularity with NFT lovers. At the moment, the floor price of the token is 14 ETH, and it has a volume of 70k ETH. The images are based on real-life occurrences, and each depicts a different feeling. If you enjoy art that has a soothing atmosphere, you will find that these pieces exude a sense of peace and quiet.
Doodles have also been able to capitalize on the ongoing demand for ape collectibles, as evidenced by the sale of the extremely rare Golden Ape (Doodle #6914) for almost 1.1 million USD. As a result of well-known NFT collectors and celebrities joining the Doodles community, such as Pranksy, DJ Steve Aoki, Snoop Dogg, and others, 2022 has become an instant success and shows no indications of slowing down in the near future.
The beginning of the Doodles NFT Project and Its Roadmap
The public sale of Doodles took place on October 17, 2021, and all of the NFTs from the collection were purchased in a period of time that set a new record. Doodles is now one of the most successful NFT initiatives thanks to the hard work of a committed team that includes seasoned artists, creators, and developers. Since its inception, Doodles has been promoted as a community-based endeavor, and ever since the site went live, this has been demonstrated to be the case. The Doodles team has established a discussion board on which Doodles community members can post their ideas regarding the direction the project should go in the future.
The community wallet is going to be seeded with 420 ETH from the first sale, as well as a part of the proceeds from all secondary sales. These monies will help authorize community-driven project projects and pay the artists, moderators, and marketers who contribute to Doodles, which will contribute to the creation of the Doodles brand. Since the introduction of Doodles, Doodlebank has brought forth two initiatives that were started by members of the community up until this point.
1. Doodles has given their blessing to the Noodles profile picture (pfp) project, making it the only one of its kind. The art form known as “Noodles” is a variation of “Doodles” that incorporates twists and turns that are community-inspired. The artwork itself is a representation of how it began as a joke between two NFT collectors and developed into the community that exists today of people who love noodles. The collection comprises a total of 5,555 Noodles, the earnings from which were initially contributed to the Doodlebank Treasury. According to the roadmap, there are also plans to launch a bespoke instant ramen noodles brand in the second and third quarters of 2022.
2. Pukenza is the second project that has been given approval by the Doodles community and is receiving funding from the Doodlebank. Pukenza is a piece of generative art that was motivated by Tyler Hobb’s Fidenza and it makes use of the color pallet that Doodles provides. The snapshot proposal that was used to finish the project said that it had a cost to the Doodlebank of 4.2 ETH and that it was distributed as a free airdrop to holders of Doodles.
3. The introduction of Space Doodles was announced on Twitter by @poopie cat, who is also one of the founders of Doodles. At the time of its launch in February, it will be made available to no one other than already-registered Doodle owners. The wrapped NFT technology was introduced to us for the first time in the CryptoKitties collection, and Space Doodles will utilise that same technology. Wrapped non-fungible tokens have the ability to augment the value of each collection by introducing an element of scarcity. This is because there can only be one version of the token in your wallet at any given time.
The Group That Is Responsible for Doodles
Scott Martin, who also goes by the nickname Burnt Toast, is the primary illustrator responsible for the pastel images found in Doodles. Martin’s previous job was a prosperous one as a freelance digital artist and animator before he started Doodles. However, developing and marketing his artwork as NFTs was the turning point in his career that established him as a world-famous artist. The other two co-founders, Evan Keast and Jordan Castro, have worked in the past for a variety of successful companies, including Dapper Labs (the company that developed NBA Topshot and CryptoKitties), Snapchat, Whatsapp, and Google, respectively. The most valuable aspect of Doodles is its community-first approach, in which decisions regarding projects are determined through community voting. By taking this strategy, the entirety of the community is included into the Doodles team and becomes an integral part of the company’s success. Through community-driven activities such as concerts, products, and more, the company’s founders have a vision of bridging the gap between the digital world and reality.
Advantages of Taking Possession of Doodles
You have the opportunity to take part in the coordination of the community treasury of Doodles if you are the holder of a Doodles NFT. The holders have a voice in the decision-making process for a variety of community-oriented events and campaigns, and their votes can count. There is no set roadmap, and the one that is available is continuously updated based on feedback from the community. Doodle owners are also invited to participate in special gatherings only open to them. Doodles has already thrown a celebration for the holders, and other events are currently in the planning stages for the near future. While you are attending one of Doodle’s private events, you will also have the opportunity to network with other investors from the local community.
Where Can I Purchase a Doodles NFT?
The Doodle that is now available for purchase can be purchased for approximately 14 ETH, which is equivalent to $37,000 at the time of this writing. Despite the fact that this is not a trivial amount, the following steps need to be taken in order to participate in the project:
1. Obtain some Ether :
The Doodles NFT project utilizes the blockchain technology developed by Ethereum. Getting your hands on some Ethereum (a minimum of 14 ETH plus the costs of gas) should be the first thing you do if you want to purchase a Doodle non-fungible token. Opening an account on a trading site such as Coinbase, which you can then fund using bank transfers, credit, or debit cards, is an easy way to acquire Ethereum (ETH). Bear in mind that the completion of this process will necessitate the use of an identification card issued by the government to authenticate your identity.
2. Ethereum Wallet:
A software wallet such as MetaMask is required in order for you to purchase the Doodles NFT that you desire from online marketplaces such as Opensea, Rarible, and LooksRare. Following the completion of the purchase, you have the option of adding an extra layer of security by moving any remaining ETH and NFT to a hardware wallet such as Ledger.
3. Fund Your Wallet:
After you have copied your wallet address and logged in to your MetaMask account, you can ask the exchange to transmit the desired amount of Ether to your wallet. The transaction might take anywhere from one minute to fifteen minutes, and it can cost more than one hundred dollars every transaction.
4. Buy Your Doodles with Non-Fair Trades
Once you have the necessary amount of ETH stored in your MetaMask wallet, you should go to a marketplace such as Opensea, Rarible, or Superrare and connect your wallet. After doing so, you will have the option to either directly buy NFTs that are listed with a “Buy Now” price or bid on the NFT that you find appealing. When it comes to picking out the ideal Doodles for you,
Bonus Tips:
The gas fees are going to be paid for by the individual who is accepting the transaction. You can place a bid on an NFT and then wait for the owner to accept it if you want to obtain a better deal and save some additional money at the same time. There are also other considerations, such as the price differentials and levels of safety offered by various markets. For additional information, please refer to our reviews of the Marketplace, which are as follows: OpenSea Review, Rarible Review, and SupeRrare Review.
The Changing Cost of Doodles
Following an exclusive pre-sale, the public sale of Doodles, which were priced at 0.123 ETH each, was so successful that it broke all previous sales records. Because of the great degree of attention generated by the aesthetics of the artwork and the founder’s background, the price of gas increased to more than 1 ETH. As of the 18th of October in 2021, the total selling volume had reached an astounding $24.1 million, thereby setting the path for secondary sales to take place at even greater prices. Just one day after the tokens were made available to the general public, the average price at which they could be purchased was approximately $5.7k. In October, Doodles #7573 was the NFT that sold the most copies across the entire collection. At the time of writing, the current floor price is 14 ETH, and there have been 150 successful sells out of a 24-hour trading volume of 2,080.38 ETH. At the moment, Doodles are ranked sixth in floor price, and their floor cap is equal to 139,000 ETH. The mentioned ratio is merely 11.1%, which is an indication that holders have bullish feelings, in comparison to the maximum supply of 10,000.
Should You Make an Investment in a Doodle NFT?
Doodles NFTs are speculative investments just like a lot of other NFT initiatives now available on the market. The worth of the asset can not be determined in any way that is not wholly subjective. Doodles is a project that is centered on the community and has a strong community to support it. Doodles’ holders are also invited to special private parties and receive NFT airdrops as an additional reward. In addition, Doodles NFTs have a high creative value thanks to their gorgeous color pallet, and they can be purchased just for their aesthetic appeal. Because there is only a limited supply of 10,000 Doodles, it is anticipated that the price will increase as more people become aware of this one-of-a-kind endeavor. Go for it if you want to join the community that already has 10,000 people in it and take advantage of the additional special benefits that come along with membership.
