Doodles has recently seen a remarkable surge in its non-fungible token (NFT) sales, skyrocketing by an impressive 97% within just a 24-hour period. This spike has caught the attention of digital collectible traders who are eagerly anticipating the project’s upcoming token generation event along with a highly anticipated airdrop.
According to the latest data from CryptoSlam, on May 8, Doodles NFT sales reached an impressive $1.1 million, nearly doubling the amount from the previous day. This significant increase in activity propelled Doodles to the third position in daily NFT sales, trailing only behind DMarket and Courtyard NFTs.
When looking at the longer term, Doodles has generated a total sales volume of $2.6 million over the past week, which marks a staggering 368% increase in comparison to the week before. In terms of overall performance, this places Doodles as the fifth-largest NFT collection, as noted by CryptoSlam.
This surge in sales comes in light of the much-anticipated launch of Doodles’ DOOD token. The team behind Doodles announced on May 7 that the token generation event is set to take place on May 9, sparking excitement among the community and investors alike.
The DOOD token launch was initially revealed on February 13, with the project stating its plan to mint a total of 10 billion DOOD tokens on the Solana blockchain, introducing a future bridge to the Base blockchain as well. According to the Doodles team, a staggering 68% of the total token supply is dedicated to community members. This allocation consists of 30% for the Doodles community, 13% for the New Blood community, and 25% that will be set aside as an ecosystem fund.
Furthermore, the team members will receive 17% of the total token supply, while 5% will go to the company itself. It’s worth noting that there is a one-year cliff unlock period and a vesting period of three years for these allocations. The final 10% of the token supply is earmarked for the project’s liquidity.
For those holding Doodles NFTs, the excitement intensifies as they become eligible to pre-register and receive an allocation of the airdropped tokens. Major exchanges, including Binance and Bybit, have already announced that they will be listing the DOOD token on their platforms once they are minted on May 9, offering additional avenues for investors to engage with the new token.
As Doodles and several other prominent collections experience this noteworthy increase in activity, the overall NFT market has also benefited, reaching a weekly sales volume surpassing $103 million. This marks a neat 7% uptick from the prior week, signaling a healthy resurgence in the NFT landscape, according to data provided by CryptoSlam.
Ethereum-based NFTs continue to lead the market with sales of $26.5 million over the last week. These figures exemplify the ongoing popularity of NFTs within the Ethereum ecosystem. Following closely is Polygon NFTs, with the sales total reaching $19.1 million. A significant contributor to these sales is the platform known as Courtyard, which specializes in real-world asset NFTs and alone accounted for over $17 million in sales, making it the top NFT collection of the week.
Other blockchain networks have also made their mark, with Mythos Chain and Bitcoin-based NFTs pulling in sales of $16 million and $12 million, respectively. Such diverse participation across multiple blockchain platforms showcases the broadening appeal of NFTs beyond just the Ethereum network.
The community’s enthusiasm surrounding Doodles, especially with the impending DOOD token launch and the associated airdrop, illustrates the dynamic nature of the NFT market. Collectors and traders are closely monitoring these developments, creating a buzz that is palpable across social media and crypto platforms.
In the ever-evolving landscape of digital collectibles, the rise of the Doodles NFT collection serves as an example of how projects can capture community engagement while facilitating economic opportunities for their users. As the NFT space continues to grow, with new projects and tokens launching regularly, it will be crucial for collectors and investors to stay informed and adapt to the changes and trends in this vibrant market.
The recent developments with Doodles underscore the exciting potential of NFTs and the impact that token generation events can have on sales and market dynamics. For those involved in the NFT community, these events offer not just financial opportunities but also a chance to be part of a growing ecosystem that continues to innovate and evolve with each passing day.
As collectors engage with the Doodles brand and its unique offering, the anticipation surrounding the DOOD token will likely catalyze further interest in the NFT sector as a whole. With the robust support from major exchanges and the financial mechanisms in place for community rewards, Doodles is well-positioned as it embarks on this new chapter in its journey.
In conclusion, as we witness the intriguing growth trends of Doodles and the broader NFT market, it’s a thrilling time for enthusiasts and traders alike. Each new token launch, sale surge, and community engagement represents a piece of the digital frontier, inviting individuals to explore, speculate, and participate in this ever-changing landscape of digital collectibles and blockchain-driven assets.