Doodles, the group that created the well-known non-fungible token collection Doodles, has introduced $DOOD as its official token. A few hours ago, the Doodles NFT team made an announcement about its native token during the NFT Paris event held at the Grande Halle de la Villette in Paris, France.
More information about the recently released NFT currency and its tokenomics will be covered exclusively in this post.
Doodles Introduces $DOOD, Its Native Token
The official token $DOOD for the Doodles NFT collection will be launched, the Doodles NFT team revealed in a blog post on February 13 via their X account. While attending the annual NFT event, NFT Paros, in Paris, France, the Doodles NFT team announced the introduction of their coin.
Doodles began as a collection of 10,000 digital treasures, but it has since expanded into other entertainment genres like music and animation. Additionally, the company has partnered with McDonald’s, which has helped the brand become more well-recognized.
In Doodles, the trade volume reached $2.46 million between February 2 and February 9. The launch of $DOOD follows the debut of PENGU, a Pudgy Penguins token that was first made available on Solana in early December 2024. The action is part of a growing trend of NFT brands tokenizing.
Martin said in an interview that $DOOD will begin as a meme coin before developing into the Doodles game ecosystem’s utility token. Additionally, he stated that he would like not to “call it a meme coin, per se.” He clarified that before implementing new product features, the company must adhere to US securities regulations.
The laws pertaining to cryptocurrency tokens have changed significantly after Trump’s victory. Such launches were legally ambiguous under the previous administration. However, initiatives like $DOOD are being permitted to move forward with fewer regulatory barriers as a result of the current president’s interactions with the cryptocurrency community.
Founded three years ago, NFT Paris is an annual non-fungible token event that aims to reignite the NFT fire by bringing together more than 400 speakers and 20,000 attendees from around the globe.
On February 13, 2025, the NFT Paris event began, and it will continue until February 14, 2025. High-profile speakers from leading NFT companies are included at this yearly event, such as Burnt Toast, the inventor of the Doodles NFT collection, Sebastien Borget, the CEO of Sandbox, and Mr. Luca Netz, the CEO of Pudgy Penguins. Micheal from the abstract, Arthurs Breitman from Tezos, Vivien Barbara from Pepe, Robby Young from the Animoca, and Zagabond from Azuki are among others.
Doodles is a widely recognized non-fungible token collection created by digital artist Burnt Toast and containing a limited edition of 10,000 cartoons stored on the Ethereum blockchain network, was introduced in 2021. Doodle from the NFT collection has a variety of characteristics, from hairstyles and clothes to accessories and more. Since its founding, Doodles has become well-known for its unique presentation, style, and leadership.
Doodles ($DOOD) Tokenomics
The Doodles NFT team unveiled $DOOD, their native token, at an unexpected event at NFT Paris. There are 10 billion tokens in the newly released token’s limited edition, which was made on Solana with a future bridge to Base, an Ethereum Layer 2 blockchain network.
Sixty-eight percent of the entire supply has been given to the community by the NFT team. The Doodles NFT community will receive 30% of the 68% allotted supply.
Additionally, the Doodles NFT team has donated 5% of the entire 68% supply to the fresh blood, 10% to liquidity, 17% to the team, 25% to the ecosystem fund, and 13% to the firm. As a result of this wonderful announcement, the Doodles NFT collection has reached previously unheard-of heights. With 2,940 ETH in trading sales during the last 24 hours, the Doodles NFT collection has increased by more than 400% from the day before.
Conclusion
The unveiling of the $DOOD token marks a significant evolution for the Doodles NFT project, transitioning into a more decentralized and community-driven ecosystem. By empowering token holders with governance rights and integrating $DOOD into various platforms within the Solana blockchain, Doodles aims to enhance user engagement and foster a sense of ownership among its community members.
