The popular NFT project Doodles is back and bigger than ever. In fact, Doodles received $54 million in equity funding courtesy of Reddit co-founder Alexis Ohanian of Seven Seven Six. In addition to Seven Seven Six, Acrew Capital, FTX Ventures and 10T Holdings contributed to this figure.
How does this investment help the future plans of the Doodles NFT project?
Doodles plans to expand this investment into the music and gaming spheres. In addition, this investment brings the price to 704 million dollars. Seven Seven Six founding partner and Doodles board member Caitlin Holloway will help expand the project internally and externally.
Caitlin Hollway commented: “Doodles is changing the world of communication and interaction as we reimagine history with blockchain. We’re excited to partner with Doodles and the team as they continue to evolve what the next generation of entertainment and media looks like.
Additionally, the NFT project team is working with the collectors and has decided to market their NFTs for up to $100,000 before requiring licensing agreements. They also hired the owners by example to make the community feel more involved.
“With this capital, we aim to continue to develop a new generation of engaging experiences and content using blockchain technology, including NFTs,” said Julian Holguin, CEO of Doodles.
“We are excited to join Seven Seven Six with our vision to build the largest and most coveted web3 media brand globally, connecting consumers, culture and entertainment. Our mission is to redefine what it means to be world-class intellectual property.
Doodles is a fun collection of 10,000 NFTs co-created by Jordan Castro, Evan Keast, and digital artist Burnt Toast. Almost a year since its launch, it has become one of NFT’s top projects. Its colorful, inclusive characters, along with its passionate community and roadmap all contributed to its success.
Doodles have attracted the attention of top NFT collectors such as Gary Vee, Snoop Dogg, Justin Bieber, Diplo and Kygo. In June, the group announced Pharrell Williams as its new chief brand officer. Doodles will also launch several products over the next six months. This includes their core NFT experience intended for mass adoption.
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