Recently, BAYC developer Yuga Labs was criticized by the community after announcing the acquisition of Moonbirds development team Proof. At the same time, the floor price of competitor Pudgy Penguins exceeded BAYC for the first time, which became an important moment in the change of the NFT market landscape and also triggered market discussion and reflection on the narrative of NFT projects.
Similarly, another blue-chip NFT project, Doodles, is also gaining market favor by “replicating” the development path of Pudgy Penguins.
According to OpenSea data, as of February 18, the total transaction volume of Doodles has exceeded 305,000 ETH, and the floor price is 3.26 ETH. In the past 30 days, the floor price of Doodles has risen by nearly 48.2%, and the transaction volume has increased by about 333% to 7,426 ETH.
Behind the sharp recovery in price and trading volume, Doodles’ narrative path is quite similar to that of Pudgy Penguins.
First of all, from the perspective of brand influence, IP derivatives are one of the key strategies for Pudgy Penguins' strong rise, and the same is true for Doodles.
Last August, Doodles and casual shoe brand Crocs jointly launched a limited edition pair of hole shoes, which were sold out within 72 hours after the official pre-sale. The owner is entitled to a unique Crocs Box digital collection, and destroying the digital asset can unlock two Crocs wearable devices and a Stoodio Beta Pass for use in Doodles 2.
Of course, Doodles has also further expanded its user base by deepening its cooperation with mainstream brands, including cooperating with the "buy now and play now" retailer Camp to open an immersive experience and play area near Chicago's Lincoln Park, and reaching a cooperation with Casio G-SHOCK to release new products in the future. However, compared with Pudgy Penguins, its brand cooperation resources are relatively fewer.
In terms of brand value building, on the one hand, Doodles, like Pudgy Penguins, continues to enrich its products, such as the Doodles AR application in testing, Doodles 2 that allows users to create wearable devices of different rarities to customize their own Doodles, and The Stoodio, which has completed beta testing, is a platform for Doodles to create customizations and will become the multi-chain center of its immersive, blockchain-driven story world.
On the other hand, Doodles also hired former Twitter event and marketing director Bianca Posterli, Meebits founder Kaigani and others to achieve brand transformation, and acquired the Emmy-nominated animation studio Golden Wolf, which will help Doodles develop new types of content, including unconstrained storytelling and AI animation generation research and development.
"Doodles will evolve from an NFT project to a leading media franchise. The more it invests in public construction that stimulates speculation, the less it will be able to achieve its long-term vision. It will not spend any resources to appease those with financial motivations and will focus its energy on loyal holders." Doodles founder Jordan Castro once said.
As an NFT project that also attaches great importance to community building, Doodles is also community-driven, which can be seen in many of its products, including:
Eliminate the $100,000 cap on commercial permits for renovation projects, DoodleBank, to focus on community empowerment and holder rewards, streamline funding and improve governance;
Applications for five key community board roles are open to NFT holders;
The Launchpad program “Inkubator” can provide Doodles OG holders with support including community activities, marketing cooperation, business experiments, customized plans, etc., and 6 projects have been funded in the first phase.
Overall, the "self-rescue" counterattack of NFT projects such as Doodles and Pudgy Penguins proves that using a business model that combines the virtual and the real to expand the audience, continuously achieve product innovation, and build community cohesion is becoming an important means of creating one's own commercial value.
#内容挖矿 #PudgyPenguins #Doodles #MoonBirds
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