A PFP NFT with a floor of 15 ETH – meet Doodles.
Doodles is a community-driven collection of 10,000 Profile Pic NFTs. The designs are, as the name suggests, based on doodles. These include cats, aliens, apes mascots, etc. Originally available from a mint of 0.123 ETH, Doodles are now sitting on a healthy floor price of 15 ETH (as of May 2022), but why and how? Let’s explore…
Who’s behind the project?
The team is fully doxed. In fact, a lot of them are the team behind Crypto Kitties (one of the first NFT projects in the space).
They include Evan Keast a.k.a ‘Tulip’ (an OG developer in the space), Jordan Castro (former PM at Crypto kitties) and prominent designer ‘Burnt toast’ who has worked on several successful NFT projects.
One thing that makes this project different from others is the team’s level of experience. Jordan himself has been involved in the NFT space since 2013! However, just because someone has been around for a long time, doesn’t automatically mean they’re good at what they do, does it? So let’s take a deeper look.
What makes the project different?
Doodles is a project that 1. places a heavy focus on a community-first approach and 2. is not afraid to take risks. One example is what they did with their mint. The team closed off their Discord and had a higher than normal mint price (most projects were below 0.1).
However, Doodles is not the only collection to have taken this approach, so what makes it really stand out?
What makes Doodles stand out though?
- First, they have a ‘Doodlebank’ where any holder can push through a proposal to the team. This is available for anyone on the team to view and makes any proposals transparent. A lot of projects claim to offer this type of feature but never actually follow through.
- Doodles have also held IRL events. Many NFT projects state that their focus is to hold live events. But Doodles is one of few to have actually done this and done it successfully too.
When? Earlier this year, Doodles held an ‘NFT party’ for Doodle holders in combination with Shopify (take a look).
Different styles of art. If you look at the other blue-chip NFT projects, they are very apey and masculine. Doodles take a more colourful, broader audience approach. This is something that caters to alternative communities: the family community, the queer community and the ‘I don’t like apes community’ 😉
They also have their own merch; however, every NFT seems to have merch, so it’s not something we’re going to shout about.
One issue Doodles does face is that there is no real utility. Although you can argue that their community is a big prospect, Doodles don’t really offer anything more than a nice pfp and some friends.
You have to ask yourself whether that’s something that is sustainable for the future. However, Doodles have tried to mix it up.
Enter Space Doodles.
Doodles Space holders
‘Personal Spaceships’ for your Doodles. That’s what a Space Doodle is. “Wait Cryptonary are these new NFTs?!”
No, these are not new NFTs but more so counterparts to your existing NFT.
As the team explains it, you can only have one at a time. But how does it work? When you want a space doodle, you have to transfer a Doodle in to get a Space Doodle out. If you want your OG Doodle back, you just trade your Space Doodle in. It’s like a simple trade.
Why have they done this? One can only assume it’s to try to make ‘Doodle’ owners feel as though they have more utility without dropping the floor of the existing Doodle.
Here’s a look at one of the designs:
— Yoshi(dumbass.eth) (@0xYosh) March 10, 2022
So by buying a Doodle, you’re buying:
- Access to a community.
- Access to events.
- Access to contribute and make changes to the project.
- Ability to change yours into a Space Doodle.
Where can you buy a ‘Doodle’ NFT?
You can no longer mint a ‘Doodle’ NFT; however, you can buy one on secondary markets such as OpenSea, Nifty Gateway, and LooksRare. If you’re not sure how to use these platforms, you can check out this free tutorial.
Overall, Doodles is a neat NFT project with a friendly team behind it. However, the question you have to ask yourself is, is a project like this going to maintain value without proper utility? or are the holders just caught up in some sort of NFT bubble…
Disclaimer: THIS IS NOT FINANCIAL OR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make, and only you are accountable for the results.