Doodles has received $54 million in equity funding from Reddit co-founder Alexis Ohanian’s Seven Seven Six. In addition to Seven Seven Six; Acrew Capital, FTX Ventures and 10T Holdings also contributed to this figure.
How will this investment help the future plans of the Doodles NFT project?
According to the announcement, Doodles plans to use this investment to expand into music and gaming. Katelin Holloway, Seven Seven Six co-founder and Doodles board member, will also help expand the project both internally and externally. Katelin Hollway said:
“Reimagining storytelling through blockchain, Doodles is changing the way the world connects and interacts. We’re excited to partner with Doodles and his team as we continue to change what the next generation of entertainment and media looks like.”
In addition, Doodles engages collectors in future work. Owners will be able to commercialize their NFTs for up to $100,000 before license agreements are required.
“With this capital, we aim to continue to develop the next generation of engaging experiences and content using blockchain technology, including NFTs,” said Julian Holguin, CEO of Doodles.
“We are excited that Seven Seven Six believes in our vision to build the largest and most desirable web3 media brand worldwide by bridging consumer, culture and entertainment. Our mission is to redefine what it means to be a world class intellectual property.”
Doodles, Colorful Blue Chip NFT
Doodles is a fun collection of 10,000 NFTs co-founded by Jordan Castro, Evan Keast and digital artist Burnt Toast. Since its launch almost a year ago, it has become one of the top NFT projects. Doodles have caught the attention of high-profile NFT collectors such as Gary Vee, Snoop Dogg, Justin Bieber, Diplo, and Kygo. In June, the team announced Pharrell Williams as their brand new Chief Brand Officer. In the next six months, Doodles will also launch a few products. This includes the main NFT experiences for mass adoption.