Doodles is marking a significant step in the NFT world by launching its $DOOD token on the Solana platform. The project focuses on integrating $DOOD into its ecosystem and taking advantage of the current memecoin trend.
$DOOD Tokenomics: How the Supply is Allocated
Doodles has a structured allocation plan for its 10 billion $DOOD tokens: 30% will go to the Doodles community, 25% to an ecosystem fund, 17% reserved for the team, 13% for 'new blood', 10% for liquidity providers, and 5% for Doodles Inc.
Doodles' Strategic Shift
Initially launched as a 10,000-piece NFT collection, Doodles expanded into the entertainment industry with partnerships like McDonald's and Adidas. Despite these high-profile deals, some crypto holders feel neglected in favor of corporate interests. CEO Scott Martin acknowledges this issue, referring to it as the 'futon effect.'
$DOOD: A Memecoin or Something More?
Initially announced as a memecoin, $DOOD aims to evolve into a true utility token. Focused on compliance with US securities laws, Doodles plans to bridge the token to the Base network, indicating a multi-chain support strategy.
The future of $DOOD is somewhat unclear, but plans include gamification and interactive content as part of the strategy to engage the audience in shaping the Doodles universe.
