Doodles NFT Review: Everything You need to Know

Doodles is a generative NFT collection, boasting 10,000 unique pfp-ready creations with a pastel colour palette.

After the Covid-19 lockdown, restricted to their homes, people started to try their hands on virtual tokens. For the last two years straight, cryptocurrencies have been dominating the market. However, 2022 doesn't seem to be its year, as we saw a significant dip in the prices of popular cryptocurrencies such as Bitcoin and Ethereum. As the bearish sentiments keep growing in the cryptocurrency space, Non-fungible tokens (NFTs) are stealing the limelight. NFTs entered 2022 just the way they did in 2021, with a blast. The Doodles NFT collectibles, featuring the art by Burnt Toast, is one such massively hyped project that is driven by its community.

To know more about NFTs read, What are NFTs: How They Work and Why They're a Game Changer

What are Doodles?

Doodles is a generative NFT collection, boasting 10,000 unique pfp-ready creations with a pastel colour palette. The out-of-box illustrations depicted in various joyful colours were an instant hit among NFT enthusiasts, currently with a floor price of 14 ETH and 70k ETH in volume. The illustrations are inspired by daily situations, each having a distinct emotion. If you love art with a calming vibe, you will find tranquility exuding from these art pieces.

Doodles have also managed to ride the tide of a never-ending ape uptrend, with the rare Golden Ape (Doodle #6914) selling for about 1.1 million USD. With famous NFT collectors and celebrities getting in the Doodles community, like Pranksy, DJ Steve Aoki, Snoop Dogg, etc., 2022 has been a quick hit for it with no signs of slowing. 

Launch and Roadmap of Doodles NFT Project

October 17, 2021, marked the public sale of Doodles, and all the NFTs from the collection got sold in record time. Backed by a dedicated team of experienced artists, creators, and developers, Doodles has made it among the top NFT projects. Since day 1, Doodles has been portrayed as a community-driven project, and since its launch, it has proven to be that. The Doodles team has created a forum where Doodles community members can voice their proposals for the project's future roadmap. 

The community wallet will be funded by 420 ETH from the first sale and a portion of all secondary sales. For building the Doodles brand, these funds will help sanction community-driven project initiatives and pay the artists, moderators, and marketers. Since the launch of Doodles, two community-initiated projects have been pushed out by Doodlebank until now.

1. Noodles: It is the only profile picture (pfp) project approved by Doodles. The art of Noodles is a derivative of Doodles with community-inspired twists and turns. The art itself represents how it started as a joke between two NFT collectors and grew into the present noodle-loving community. The collection consists of 5,555 Noodles with initial proceeds donated to the Doodlebank Treasury. The roadmap also has plans for a custom instant ramen noodles brand to release sometime in Q2 to Q3 of 2022. 

2. Pukenza: It is the second approved project by the Doodles community and funded by the Doodlebank. Pukenza is a generative art project inspired by Tyler Hobb's Fidenza, and it utilizes Doodles' colour palette. According to the snapshot proposal that finalized the project, it cost the Doodlebank 4.2 ETH and was released as a free airdrop for Doodles' holders.

3. Space Doodles: @poopie_cat, one of the Doodles' founders, announced the launch of Space Doodles on Twitter. It will only be released to existing holders of Doodle at the time of launch in February. Space Doodles will use the wrapped NFT technology we first saw in the CryptoKitties collection. Wrapped NFTs can potentially increase the value of each collection by adding scarcity, as only one version can exist in your wallet at any time.

The Team Behind Doodles

Under the alias Burnt Toast, Scott Martin is the primary illustrator behind Doodles' pastel graphics. Before Doodles, Martin had a successful freelance career as a digital artist and animator. However, designing and selling his artwork as NFTs redefined his career as a world-renowned artist. The other co-founders, Evan Keast and Jordan Castro have previous experience at various successful ventures such as Dapper Labs (the team behind NBA Topshot and CryptoKitties), Snapchat, Whatsapp, and Google. The best thing about Doodles is its community-first approach, where community votes take decisions for the projects. This approach makes the whole community a part of the Doodles team and a driving force behind its success. The founders have a vision of bridging the gap between the digital world and reality through community-driven initiatives such as concerts, merchandise, and more.

Perks of Holding Doodles

As a Doodles NFT holder, you get to participate in coordinating the community treasury of Doodles. Holders can vote on the decision-making process for various activities and campaigns that benefit the community. There is no fixed roadmap, and it keeps changing with community inputs. Doodle holders also get to participate in exclusive meetups. Doodles previously organized a party for the holders, and more are being coordinated for the future. As an investor, this allows you to network with other investors from the community while you attend Doodles exclusive events. 

How to Buy a Doodles NFT?

The cheapest Doodle available for sale will cost you around 14 ETH ( $37,000 at the time of writing). While this is no small amount, if you are interested in buying into the project, here is the process:

1. Acquire Ether:

The Doodles NFT project is built on the Ethereum blockchain. Your first step towards buying a Doodle NFT would be to get your hands on some Ethereum (14 ETH + gas fees at minimum). You can easily acquire ETH by opening an account on trading platforms like Coinbase, which you can later fund with bank transfers, credit, or debit cards. Keep in mind that this process would need you to verify your identity using a government-issued ID. 

2. Ethereum Wallet:

For buying your desired Doodles NFT from marketplaces like Opensea, Rarible, and LooksRare, you would need a software wallet like MetaMask. After purchase, you can also transfer your NFT and remaining ETH to a hardware wallet like Ledger for an added layer of protection.

3. Fund Your Wallet:

Log in to your MetaMask account, copy your wallet address and send the desired amount of ETH from the exchange to your wallet. The transaction can take anywhere between 1 to 15 minutes and cost over $100 per transaction.

4. Buy Your Doodles NFT

Once you have the needed ETH in your MetaMask wallet, head over to a marketplace like Opensea, Rarible, or Superrare and connect your wallet, you can either directly buy NFTs that are listed with the "Buy Now" price or bid on the NFT you like.

Doodles Price History

After an exclusive pre-sale, Doodles sold out at a record-breaking speed in the public sale, each priced at 0.123 ETH. The art's aesthetics and the founder's resume attracted a high level of interest, causing the gas price to jump over 1 ETH. As of October 18, 2021, the overall sale volume stood at a whopping $24.1 million, paving the way for even higher-priced secondary sales. The average selling price of one token just a day after the public release came to around $5.7k. Doodles #7573 was the highest-selling NFT in the collection in October. During writing, the floor price stands at 14 ETH with a 24-hour trading volume of 2,080.38 ETH and 150 sales. Doodles currently rank 6th in floor price and have a floor cap of 139,000 ETH. Compared to the max supply of 10,000, the listed ratio is only 11.1% indicating bullish sentiments among holders.

Should You Buy a Doodle NFT?

Like many other NFT projects in the market, Doodles NFTs are speculative. The value of the asset entirely lies in the eye of the beholder. Doodles is a community-focused project with a solid community to back it up. Other perks include exclusive private parties and NFT airdrops for Doodles' holders. Doodles NFTs also hold great artistic value with their beautiful colour palette and can be bought for the art itself. With a limited supply of 10,000 Doodles, the price is likely to appreciate with greater awareness about this unique project. If you want to become a part of the 10,000 members strong community and enjoy other exclusive perks that come with it, go for it!