Doodles NFT Collection Teases Possible Token Launch

Key takeaways

The minimum price of the Doodles nft collection increased significantly following hints of a token launch.
The possible launch of the token follows past collaborations with McDonald's, Adidas and Crocs, expanding Doodles beyond the crypto space.

Doodles founder Burnt Toast hinted at a possible token launch for the nft collection in a post on x.

take ownership, continue developing new ideas, shape communities, open minds, inspire new growth pic.twitter.com/iEBabGfwh3

– burnt toast (@burnttoast) <a target="_blank" href="https://twitter.com/burnttoast/status/1869803577117655357?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener noreferrer”>December 19, 2024

Founder Scott Martin, aka Burnt Toast, posted a cryptic message on the x platform today:

“take responsibility, continue to develop new ideas, shape communities, open minds, inspire new growth”

Community members were quick to notice that the first letters of each phrase spell “token is on the way,” leading to speculation about a token launch for the project.

This rumor translated into market activity, with the minimum collection price rising from 4.3 eth to 6.5 eth, according to <a target="_blank" target="_blank" href="https://www.coingecko.com/en/nft/doodles-official” rel=”noopener nofollow noreferrer”>CoinGecko Data

With this increase, Doodles has solidified its position as the sixth largest nft collection by market capitalization, valued at $220 million.

Rumors surrounding a possible token launch come on the heels of Doodles' recent collaboration with McDonald's, which launched just a month ago.

The partnership, titled “GM Spread Joy,” features Doodles artwork on more than 100 million limited-edition McCafé holiday cups, available at McDonald's locations across the United States.

In addition to its collaboration with McDonald's, Doodles has also partnered with major brands such as Adidas and Crocs to launch exclusive clothing, toys and online digital experiences.

Doodles' move reflects a broader trend of nft collections launching native tokens to expand their ecosystems.

Pudgy Penguins, for example, recently launched its token, PENGU, which saw an initial surge but dropped over 50% shortly after its airdrop.