The classic blue-chip NFT "Doodles" crosses the fields of music, film and television

The classic NFT (non-fungible token) "Doodles", with its cute cartoon-style characters with various costumes and appearances, became very popular when NFT exploded. However, facing the decline in market popularity, Doodles, like many NFT projects, has expanded its IP outwards and transformed into a company focusing on entertainment and brand content.

Doodles recently announced a partnership with Orchard, a music distribution company owned by SONY, to launch a record label, Doodles Records. The first release is an EP, featuring Pharrell Williams, Lil Wayne, and Lil. Lil Yachty, Swae. Well-known musicians such as Swae Lee are participating.

According to foreign media "NFTPlazas", this EP is the soundtrack of Doodles' self-made short film "Dullsville and the Doodleverse", which is expected to premiere at the Toronto International Film Festival in September.

In addition, Doodles recently launched DoodlesTV, a platform accessible only with specific NFTs, providing fans with exclusive access to community-focused music, film and digital art premieres. Currently, DoodlesTV’s Super Pass NFT has also been opened for casting on the Base chain. Pass holders will be among the first to watch Dullsville and the Doodleverse ahead of its global release.

Doodles CEO Julian. Julian Holguin, CEO of Doodles, said that music has always been a core pillar of Doodles, and it is a dream come true for Doodles to release his first project in collaboration with these musical artists. "In the future, we will integrate music, animation and technology to create breakthrough content experiences and empower artists and their communities."

NFTs are more than just NFTs

Expand the development of NFT IP and make NFT more than just NFT. In addition to Doodles, the well-known project "Pudgy Penguins" is also one of the classic cases.

Pudgy Penguins is an NFT series launched in June 2021. It was the period of NFT explosion. The cute penguin appearance attracted the attention of many collectors. The floor price was once as high as 6 Ethereums (about 18,000 at the time). Mei, that is, NT$540,000), is one of the classic blue-chip projects.

But later, the original team took away all the raised Ethereum coins and even planned to sell the project. As soon as the news came out, it caused panic in the community. The confidence of the holders in the project was severely hit, and the price plummeted.

In April 2022, 24-year-old e-commerce entrepreneur Luca Netz bought the entire project and became the current CEO. After Nez took office, the most critical decision was to bring the virtual IP of "Pudgy Penguins" into the physical world.

In May 2023, the team made the "Pudgy Penguins" characters into physical dolls "Pudgy Toys" and put them on the e-commerce platform Amazon. More than 20,000 pieces were sold in just two days, bringing in as much as approximately NT$1,534. Ten thousand yuan in revenue.

In addition to online channels, Pudgy Toys is also sold in more than 2,000 stores of the US retail giant Walmart; the cute figure of the fat penguin can also be seen in the British toy retail store Smyths.

Nez believes that NFT should have a wider impact and not be limited to the digital world. He explained that project parties often create more NFTs for profit, which will only harm the interests of the community and the project itself. For example, casting more NFTs may lead to a decrease in value.

The NFT market experienced a period of prosperity, but as the market bubble burst, many projects faced the challenge of declining value. However, such a bear market has become an opportunity for transformation. Projects such as Doodles and Pudgy Penguins continue to look for opportunities to enhance brand value and market influence through various strategies.

Source: NFTPlazas, NFTnow, CryptoNews

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