September 19, 2022
By Murtuza Merchant
Doodles, a well-known NFT initiative, is back and bigger than ever.
Amazingly, Doodles has recently obtained $54 million in equity capital from Seven Seven Six, the company founded by Reddit co-founder Alexis Ohanian.
This sum also includes contributions from Acrew Capital, FTX Ventures, and 10T Holdings in addition to Seven Seven Six.
What future goals of the Doodles NFT project will this investment support?
The release states that Doodles intends to use this funding to increase its presence in the gaming and music industries.
Additionally, this investment raises the company’s capitalization to $704 million.
Katelin Holloway, a founding partner of Seven Seven Six and a member of the Doodles board, will aid in the project’s internal and external growth.
“Reimagining storytelling through the blockchain, Doodles is changing the way the world connects and interacts. We’re so excited to partner with Doodles and the team as they continue transforming what the next generation of entertainment and media looks like,” Katelin Hollway said.
Doodles are also including the collectors in the next projects.
Before license contracts are needed, holders will be able to commercialize their NFTs for up to $100,000.
Additionally, the group employed holders as artists, displaying a dedication to community inclusion.
Chief executive officer of Doodles, Julian Holguin, said that with this funding, Doodles wants to continue building a new generation of engaging experiences and content leveraging blockchain technology, including NFTs.
“We’re thrilled to have Seven Seven Six believe in our vision to build the largest and most coveted web3 media brand worldwide, bridging consumer, culture, and entertainment. Our mission is to redefine what it means to be a world-class intellectual property,” Holguin said.
The vibrant blue-chip NFT Doodles
Co-founded by digital artist Burnt Toast, Jordan Castro, and Evan Keast, Doodles is a joyous collection of 10,000 NFTs.
It has rapidly risen to become one of the top NFT projects since its debut about a year ago. Its diverse cast of characters, devoted community, and strategic plan have all aided in its success.
High-profile NFT collectors like Gary Vee, Snoop Dogg, Justin Bieber, Diplo, and Kygo, to mention a few, have taken an interest in Doodles.
The group declared Pharrell Williams to be the new Chief Brand Officer in June.
Doodles will also introduce a number of goods during the following six months.
This includes their widely used, mass-adoption NFT experience.
About the author
Murtuza Merchant is a senior journalist and an avid follower of blockchain and cryptocurrencies.
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