Prominent Ethereum-based NFT collection, Doodles, recently caused tension among collectors and observers in by declaring itself a “not an NFT project.” The move, announced by co-founder Jordan “poopie” Castro on the project’s Discord server, has been viewed as both ambitious and a rejection of Web3 principles.
hey web3, here are my comments on the feedback
“doodles isn’t an NFT project”
this is true. but what’s also true is i’ve dedicated my career to the blockchain. i’ll never abandon the pursuit of delivering the promises of this tech to the world. doodles started as an NFT… https://t.co/Eq9fZN3sx4
— poopie (@poopie) March 16, 2023
“We’re trying to go 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 ‘build in public’ 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, stating that they are no longer just an NFT project but aim to become a leading media franchise. This approach has caused a mixed response across social media, with some applauding the project’s ambitious goals and others viewing it as a sign of it rejecting the scene that helped it find prominence in the first place.
“We are not going to spend any resources appeasing those with financial motivations. We never have and never will,” he continued. “If we are going to focus energy on any [group] of people, it will absolutely be our most loyal collectors.”
Doodles Under Criticism From Some Webs Enthusiasts
While Doodles has been one of the most successful NFT projects in the NFT space, with prices skyrocketing in recent months, it has faced criticism for lacking communication from its founders and hosting an NFT NYC party last year viewed as a corporate presentation. The project’s floor price has fallen by 13% in the last 24 hours, down 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 needs to focus more on building new features and products for the NFTs. He doubled down on the comments in a subsequent tweet, assuring the community that NFTs will remain the “connective tissue” across plans.
As the NFT market evolves, it will be interesting to see how other projects follow suit and rebrand themselves as media franchises or other types of businesses. Doodles’ move indicates an attempt to establish itself as a significant 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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