Jordan Castro, the founder of the famous NFT brand Doodles, has announced plans to transform his project into a leading media unit. In a statement on Discord on March 16, Castro, also known as Poopie, shared his vision for the future of the company, which he believes will “go beyond the label of an NFT project.”
Poopie has revealed his ambitions for the company, including plans to make the project a top-tier media brand. He is also discussing strategies to combat the current problem of “speculation” in the NFT market. Instead, the founder wants to create genuine “intrinsic motivators” to attract users.
“We are no longer an ‘NFT project’” – @doodles co-founder @poopie 👀
Many projects are navigating the tension between delivering value to holders and creating new and sustainable revenue streams.
Thoughts? pic.twitter.com/JmwP6oZ6tS
— nft now (@nftnow) March 16, 2023
There have been concerns that Doodles may be moving away from NFTs and blockchain technology, but Poopie has emphasized that the project will continue to be closely linked to this technology, and NFTs will remain central to the company’s plans.
However, the news of the shift towards a new model for Doodles has not been met with much positive response. The floor price for a Doodles NFT is currently 3.9 ETH, equivalent to about $7,200, a decrease of over 13% in the last 24 hours.
Doodles is a collection of 10,000 NFTs launched in October 2021, which attracted a lot of attention due to its eye-catching design and more polished look compared to other projects. In September last year, Doodles made headlines with its massive $54 million fundraising, with a company valuation of up to $704 million.
Over the past year, Doodles has focused on expanding its ecosystem, collaborating with big names like former Billboard Chairman Julian Holguin, musician and producer Pharrell Williams as the brand director. Doodles had previously announced plans to expand into NFT gaming, music, and intellectual property ownership. In January 2023, the company acquired the animation studio Golden Wolf as part of its roadmap to realizing this vision.
While Doodles’ shift towards a new media-focused model may be seen as a risky move, it also highlights the potential for NFT projects to evolve and diversify beyond their initial offerings. Only time will tell if Doodles’ ambitious plans will pay off, but the company’s strong track record and high-profile collaborations suggest that it could be a force to be reckoned with in the media industry.
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