What is Doodles?

Doodles is an NFT project born in 2021, created by illustrator Scott Martin (known as Burnt Toast). The project released 10,000 avatar NFTs with bright colors and hand-drawn style, quickly gaining popularity.

The most special thing about this project is that it pays great attention to community participation in both technology and operations. Holders not only own image copyrights but can also vote on project development, such as how to use the funds of the community treasury Doodlebank.

Why is Doodles so popular?

Doodles was very popular from 2021 to 2022, with floor prices once exceeding 5 ETH, making it one of the representatives of ‘blue-chip NFTs’. There are several reasons behind this:

• Unique style: Unlike the ‘avatar generator’ style of other NFT projects, Doodles looks more like hand-drawn cartoons.
• Experienced team: Co-founder was a core member of CryptoKitties, well-versed in community gameplay.
• Capital boost: raised $54 million in financing in 2022, with a valuation of $700 million, including co-founder of Reddit as an investor.

Afterwards, Doodles also tried to expand from pure NFT to Web3 entertainment brands, such as launching animations, music content, and collaborating with brands like Adidas and McDonald’s.

What challenges do Doodles face?

By 2024, the overall NFT market has cooled down, with trading volume plummeting, and Doodles also being affected. The floor price has dropped to around 3 ETH, community engagement has decreased, and some users are starting to question the project’s over-commercialization.

In early 2025, founder Scott Martin returned as CEO, proposing a strategy of “radical innovation” and announcing the establishment of DreamNet, an AI-driven decentralized content platform, aiming to inject new vitality into the ecosystem.

What is DOOD?

DOOD is the native token of the Doodles project, launched in May 2025, with the initial chain being Solana, and plans to cross-chain to Base L2.

The purpose of this token is to make Doodles not just “static avatars”, but to have a tradable, stakable, and governable ecosystem. DOOD will serve as the core medium for Doodles content platform, NFT upgrades, and community voting.

What is the economic model of DOOD?

According to the white paper, the total supply of DOOD is 10 billion coins, including:

• 68% allocated to the community, including airdrops, creation incentives, staking rewards, etc.
• 13% allocated to ‘New Blood’ (new users and contributors)
• 19% belongs to the team and investors, with a certain lock-up and unlocking period

Value capture methods include:

• Governance feature: coin holders can participate in content creation decisions and product direction voting
• Consumption scenarios: Unlock animations, purchase virtual wearables, and in-game transactions on the Doodles platform
• Staking rewards: may receive future animated dividends, offline event ticket discounts, etc.

What should investors pay attention to?

Image:https://www.gate.io/trade/DOOD_USDT

DOOD Token has been listed on Gate.io Gate.ioNewbies should be cautious when trading the newly listed coin due to its high volatility. Pay attention to the risks.

While DOOD brings new opportunities, there are also the following risks:

1. Opaque information: The distribution mechanism of New Blood is not clear, and it is easy to be questioned for manipulation.
2. Speculative atmosphere is strong: Solana is the meme culture center, the project may be overwhelmed by short-term speculation
3. NFT price correlation is strong: DOOD’s decline may drag down the price of Doodles NFT, forming a “death spiral”

Recommendation for novice investors:

• If you want to participate in short-term trading, be sure to set stop-loss and take-profit orders.
• If you want to hold for the long term, it is recommended to wait until DreamNet is officially launched and has actual user data before entering the market.

Conclusion

Doodles transitions from NFT blue chips to Web3 entertainment ecosystem, with DOOD as the core token, representing a high-risk, high-return experiment. It could be a new paradigm for creator economy or just another capital game in a new bottle.

For ordinary investors, staying calm, focusing on substantive progress, and participating rationally are still the keys to navigating bull and bear markets.