Doodles Declares its ‘Not an NFT Project’

Doodles Declares its ‘Not an NFT Project’

A famous NFT collection based on Ethereum, Doodles, recently caused tension among collectors and observers by declaring itself “not an NFT project”. The move announced by co-founder Jordan “poop” Castro on the project’s Discord server, is seen as ambitious and a rejection of Web3 principles.

“We’re trying to transition from a startup to a leading media franchise. We are no longer an NFT project,” Castro wrote. “The more time/money/resources we invest in following the latest ‘building a public place’ trends that fuel speculation, the less we have to achieve our long-term vision.”

Castro defended the team’s approach to building new features and products away from the spotlight, saying they are no longer just an NFT project, but aim to become a leading media franchise. This approach drew a mixed response on social media, with some applauding the project’s ambitious goals and others seeing it as a sign of rejecting the scene that helped him find fame in the first place.

“We will not spend any resources to appease those with financial motives. We never have and we never will,” he continued. “If we’re going to focus energy on something [group] of people, these will definitely be our most loyal collectors.”

Doodles criticized by some web enthusiasts

Although Doodles has been one of the most successful NFT projects in the NFT space, with a sharp price spike in recent months, it has faced criticism for a lack of communication from its founders and hosting an NFT party in New York last year that was seen as corporate presentation. The minimum price of the project has fallen by 13% in the last 24 hours, to around $5,850 (3.53 ETH), according to NFT Price Floor data.

Castro’s comments were made in response to criticism from some holders who believe the team should focus more on building new features and products for NFTs. He doubled down on the comments in a follow-up tweet, assuring the community that NFTs would remain the “connective tissue” in the plans.

As the NFT market evolves, it will be interesting to see how others do projects followed suit and rebranded as media franchises or other types of businesses. Doodles’ move shows an attempt to establish itself as an important player in the Web3 space and move away from being perceived solely as an NFT project. However, it remains to be seen how this will affect the project’s long-term goals and relationship with its collectors.

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