Doodles raises US$ 54M at US$ 740M valuation
Leading NFT collection Doodles announced it has raised US$ 54 million at a US$ 74 valuation at its Series A funding round led by Seven Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures.
The new funds will help the company in developing NFTs with its intellectual property and its ventures into music, entertainment and gaming spheres.
Doodles Chief Executive Officer Julian Holguin said, ‘We’re thrilled to have Seven Seven Six believe in our vision to build the largest and most coveted web3 media brand worldwide, bridging consumer, culture, and entertainment. Our mission is to redefine what it means to be a world class intellectual property.’
Launched on October 17, 2021, Doodles is a 10,000 NFTs co-founded by digital artist Burnt Toast and Web3 pioneers Evan Keast and Jordan Castro. It is recognized for its inclusive characters, pastell-coloured world, cohesive community and forward-thinking project roadmap.
Notable investors include Justin Bieber, Future, Gary Vee, Snoop Dog, Fat Joe, Kygo, Diplo, Steve Aoki, Pranksy, among others.
Doodles also tapped musician and producer Pharrell Williams as Chief Brand Officer to increase brand exposure in the music industry.
At the NFT NYC event, the Doodles team announced the launch of Doodles 2 on the Ethereum blockchain.
Doodles 2 will be customizable and accessible compared to the limited 10,000 original Doodles NFT collection. Users will be allowed to buy basic Doodles NFTs and customize them with traits, wearables and accessories. The Doodles 2 NFTs will also have varying rarities and come in full-body or PFP formats.