Doodles, a leading NFT project, is launching its own token, $DOOD, on the Solana blockchain. This move represents a major strategic shift for the brand, aiming to revitalize its community, tap into the surging memecoin trend, and explore future utility for the token.
With a total supply of 10 billion tokens, the launch is a significant step in bridging the Doodles ecosystem with the wider Web3 space. The central question is whether $DOOD will function purely as a memecoin or evolve into a more substantial asset with long-term value.
Why Doodles Is Introducing the $DOOD Token
Beginning as a collection of 10,000 NFTs, Doodles quickly grew into a mainstream entertainment brand with high-profile collaborations, including partnerships with Adidas and McDonald's. While these moves increased visibility, some core community members felt the project was moving away from its Web3 foundations.
The introduction of $DOOD is a strategic effort to re-engage its original audience while also appealing to the broader cryptocurrency market. By launching on Solana, Doodles is leveraging the network’s low transaction costs, high speed, and vibrant memecoin culture.
This decision also aligns with a growing trend among NFT projects like Pudgy Penguins and Azuki, which have launched their own native tokens, making $DOOD a necessary step for Doodles to remain competitive.
Understanding $DOOD Tokenomics and Allocation
The distribution of the $DOOD token is designed to support long-term growth and community engagement. The allocation breakdown is as follows:
- 30% – Doodles Community: Reserved for existing NFT holders to reward loyalty and participation.
- 25% – Ecosystem Fund: Dedicated to future project development and expansion.
- 17% – Team Allocation: Intended for core contributors, development, and operational needs.
- 13% – “New Blood”: Likely allocated for attracting new users, partners, or community initiatives.
- 10% – Liquidity Providers: To ensure market stability and smooth trading.
- 5% – Doodles Inc.: Reserved for corporate strategies and unforeseen opportunities.
With 68% of the total supply directed toward community and ecosystem growth, the tokenomics emphasize decentralization and long-term engagement over centralized control.
Will There Be an Airdrop for $DOOD?
Many in the community are eager to know if there will be an airdrop for Doodles NFT holders. Although official confirmation is pending, the token allocation suggests a significant portion will be distributed to the community.
The 30% set aside for Doodles NFT holders strongly indicates a potential airdrop to reward early supporters. The additional 13% labeled “New Blood” could also be used for attracting new members through incentives or rewards.
Key points to keep in mind about a potential airdrop:
- Eligibility will likely be based on holding original Doodles NFTs at the time of a snapshot.
- The claiming process may require connecting a wallet to a designated platform.
- Distribution could occur in phases to encourage sustained involvement and prevent market volatility.
👉 Learn more about claiming potential airdrops
Given the success of similar NFT project airdrops, $DOOD could see significant attention if distribution plans are clearly communicated.
Is $DOOD a Memecoin or a Utility Token?
Doodles has intentionally introduced $DOOD with flexible messaging. While it’s initially presented as a memecoin, the team has hinted at future utility, likely to navigate regulatory landscapes carefully.
Potential use cases that may be developed include:
- Staking rewards for NFT holders.
- Integration within games and metaverse experiences.
- Access to exclusive events, merchandise, or content.
- Cross-chain functionality, including a possible bridge to Base, Coinbase's Layer 2 solution.
This approach allows Doodles to align with current market trends while laying the groundwork for more sophisticated applications in the future.
Why Doodles Chose Solana for $DOOD
The decision to launch on Solana rather than Ethereum was driven by several practical considerations:
- Low transaction fees make micro-transactions and community interactions more affordable.
- High throughput supports rapid and scalable transactions, essential for a widely used token.
- Solana’s ecosystem is currently a hotspot for memecoins, providing a receptive environment for $DOOD.
Despite this, Doodles has not fully abandoned Ethereum. Plans to potentially bridge $DOOD to Base suggest a multi-chain strategy that could incorporate Ethereum-based users in the future.
How $DOOD Compares to Other NFT Project Tokens
The trend of NFT projects launching tokens has yielded varied results. Pudgy Penguins' $PENGU and Azuki’s $ANIME saw positive receptions, while established tokens like Yuga Labs’ $APE continue to play a significant role in the Web3 economy.
If Doodles can leverage its strong brand and community, $DOOD may experience similar early success. Long-term value, however, will depend on the implementation of tangible utilities and sustained engagement strategies.
Can $DOOD Transform the Doodles Ecosystem?
The launch of $DOOD marks a critical evolution for Doodles, signaling a deeper commitment to cryptocurrency integration. Its success will hinge on the execution of its roadmap and the community’s reception.
An airdrop could immediately benefit loyal NFT holders, but lasting relevance will require innovative use cases and ongoing development. With Solana’s current momentum and the growing interest in NFT-backed tokens, $DOOD is well-positioned for initial traction.
The true measure of success will be its ability to sustain interest beyond the launch phase and prove itself as more than just a speculative asset.
Frequently Asked Questions
What is the total supply of $DOOD?
The total supply is 10 billion tokens. The distribution is heavily weighted toward community rewards and ecosystem development, with 68% allocated to these areas.
How can I qualify for a potential $DOOD airdrop?
While not officially confirmed, eligibility will likely require holding a Doodles NFT at the time of a snapshot. Stay updated through Doodles’ official channels for details.
Why did Doodles choose Solana for $DOOD?
Solana offers low fees, fast transactions, and a thriving memecoin culture, making it an ideal blockchain for launching a community-focused token like $DOOD.
Will $DOOD have any utility?
Initially launched as a memecoin, $DOOD is expected to gain utility over time, with potential uses in staking, gaming, and exclusive access to events or products.
Is $DOOD available on Ethereum?
No, $DOOD launched on Solana. However, the team has hinted at a future bridge to Base, which could make it accessible to Ethereum users.
What makes $DOOD different from other NFT project tokens?
While similar to tokens like $PENGU or $ANIME, $DOOD distinguishes itself through its allocation model and Doodles’ strong brand legacy, though its long-term uniqueness will depend on utility development.