Meanwhile, Doodles, one of the biggest NFT collections, is preparing to debut its memecoin DOOD on the Solana blockchain. This promising new use case is fueling an NFT sales boom. It was the announcement on February 13 that set off the real market frenzy. Investors are waiting with bated breath for the TGE on May 9. In preparation, Doodles NFT sales have recently seen a violent spike, surpassing $1.1 million on May 8. This sudden increase is a reflection of the growth, excitement, and investment happening all over the Doodles community.
Sales Volume Nearly Doubles
Doodles NFT sales are up 97% over the past 24 hours alone. The amount of sales have almost doubled making it over $1.1 million! This remarkable uptick has put Doodles on the daily NFT sales podium, sitting in third place behind DMarket and Courtyard NFTs. Just in the last week, Doodles sales reached an amazing $2.6 million in volume. This success is a massive 368% jump from last week! Ordinals’ strong market position can be seen in the fact that the collection currently ranks fifth place all time for all NFT collections.
Token Allocation Strategy
Doodles plans to mint 10 billion DOOD tokens on the Solana blockchain. They’ve created a capital improvement plan that maximizes economic and environmental benefits to both community and ecosystem. An impressive 68% of the minted tokens will go directly to community members. More concretely, 30% of these funds will be transferred to the Doodles community, and 13% to the New Blood community. Get ready to learn. Additionally, we will reserve 25% of the tokens to our ecosystem fund to develop Doodles into the universe we all want to explore. Tokens will be distributed as follows: 17% of the tokens will be allocated to team members, while the company will hold 5% of the token supply.
Community and Future Prospects
The strategic use of DOOD tokens underscores Doodles’ dedication to its community and the long-term sustainability of its ecosystem. With Doodles, they’re giving away 75% of all the tokens to members of their community. In addition, they’re putting money towards ecosystem building to create the engagement and spark the innovation needed. With the world’s third TGE happening on 9 May, everyone is buzzing with excitement. The general consensus is that this addition will bolster Doodles’ position in the NFT space even further.
