NFT project Doodles pivots to become media franchise

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 it would not spend resources appeasing those with financial motivations.

The announcement was met with mixed reactions, with some NFT enthusiasts expressing concerns about the project’s future direction. However, others praised the move, suggesting that the term “NFT project” is outdated and that such projects are all startups/businesses.

Castro later tweeted a response to the criticism, stating that the project was doubling down on its new focus but would continue to use NFT tech as the connective tissue between everything they do. The aim, he said, was to “evolve beyond vicious speculative cycles” by bringing in intrinsically motivated users, solving real problems, and releasing products with a market fit.

The move to become a media franchise could be a smart one for Doodles, as it will allow the project to expand beyond the NFT space and into other areas of media, such as film, music, and gaming. It could also help the project reach a wider audience and become more mainstream.

However, the success of such a pivot will depend on how well the project executes its new strategy. Moving away from financial speculators and focusing on loyal collectors could be a smart move, as it will help to build a stronger community around the project. However, it remains to be seen whether Doodles can successfully transition from an NFT project to a leading media franchise. Only time will tell if this move pays off for the project and its investors.


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Nifty News: Mike Tyson loves Solana, Aoki stops show to flaunt NFT, Apple and the ‘AR Verse’

Mike Tyson is living the $DREAM

Boxing icon Mike Tyson has stepped into the ring this week, after he shared his enthusiasm for Solana and unveiled a partnership with mental health-focused crypto project TheDreamChain ($DREAM).

In the first round, Tyson — who previously launched an NFT project on Ethereum via OpenSea last year — tweeted on Jan. 13 that he was a born-again Solana (SOL) proponent while sharing a screenshot of a new NFT he’d snapped up from the Catalina Whale Mixer project.

The Solana-based Catalina Whale Mixer NFTs currently have a floor price of 15 SOL ($2,200), and Tyson’s NFT depicts a whale version of himself wearing a world championship belt along with his famous face tattoo.

In round two later that day, the 55-year-old tweeted about either what appears to be a partnership or paid celebrity promotion with TheDreamChain. The token’s unusual selling point is that it’s just as difficult and limited to trade as a stock.

“It’s the first of its kind that can only be traded during US stock market hours. Could revolutionize the space and help the mental health of the crypto community.”

According to TheDreamChain’s website, its token $DREAM is only available for trade between the standard stock exchange hours of 9:30am to 4:pm, with the idea being that 24/7 trading is causing a mental health crisis amongst crypto traders.

The project states that it will divert 0.5% of all transaction fees to its own foundation, which will donate funds to mental health charities or use the capital to sign partnerships with non-profit organizations.

Apple looking at AR, not the Metaverse

Amid a landrush from tech giants toward the Metaverse, Apple won’t be rushing in with its latest gadget according to Bloomberg’s Apple tech reporter Mark Gurman.

Gurman shared snippets from the latest Q&A section of his paid consumer tech newsletter via Twitter on Jan. 10 regarding Apple’s upcoming virtual reality headset. He noted that:

“Here’s one word I’d be shocked to hear on stage when Apple announced its headset: Metaverse.”

“I’ve been told pretty directly that the idea of a completely virtual world where users can escape to — like the can in Meta Platfroms/Facebook’s vision of the future — is off-limits from Apple,” he added.

According to Gurman’s understanding, current and former Apple execs such as Jony Ive have always envisioned the firm’s VR headset to be a device used in short “bursts” for gaming, content consumption and communication and not as part of a full-blown Metaverse experience.

Instead, Apple is said to be eyeing the augmented reality space (AR) in which the user’s physical experience is enhanced with digital or virtual features via devices such as eye lenses, as they can be worn all day and don’t distract from the immediate environment.

Artemis launches mobile-focused NFT social media platform

Hong Kong-based blockchain firm Artemis Market launched a new social media and NFT trading platform yesterday.

According to a Jan. 13 announcement, the Solana-based platform has initially launched a desktop and mobile web version with limited functionality, and will be rolling out a mobile app and full social features in the near future.

Artemis is hoping to attract new users with 0% transaction fees on trading until the end of February.

The firm stated that it was focused on building a one stop shop mobile platform to provide a user-friendly platform that can be accessed on the go, as it highlighted that the NFT sector currently lacks a “compelling user experience” despite its booming popularity.

“We want our users to be able to conduct their whole NFT experience all in one app. From discovering and hanging out with creators, to collecting NFTs, to interacting, sharing and commenting with friends.”

Related: China aims to separate NFTs from crypto via new blockchain infrastructure

Steve Aoki stops live show to flaunt NFT acquisition

Millionaire DJ Steve Aoki abruptly stopped one of his live music events this week to flaunt a freshly acquired NFT that many of his fans could only dream to afford.

Aoki tweeted a video on Jan. 12 sharing his glee at snapping an NFT from the Doodles collection accompanied by a caption that read:

“Had to stop my show to celebrate my excitement on my doodle! Nfts make me feel like a kid again.”

The Doodles project consists of 10,000 NFT avatars featuring art by popular Canadian artist Burnt Toast. The NFTs currently have a floor price of 11.75 Ether (ETH) worth roughly $38,300 at the time of writing.

Aoki is a major NFT proponent with his fingers in multiple honey pots, and his latest behavior suggests early signs of a crippling NFT addiction.

Other Nifty News

A group of editors on Wikipedia voted against classifying NFTs as a form of art on Jan. 12, opting to exclude NFT art sales from the list of top art sales of living artists. They have agreed to re-open discussions at a later date however.

U.S.-based music streaming platform LÜM is slated to relaunch as an NFT platform later this quarter. It is shifting its focus to musician-focused fan NFTs that enable users to support the artist of their choosing.