Identity crisis: Cofounder of doodles says it’s not an NFT project
One of the co-founders of nonfungible token (NFT) project doodles says it is going to pivot away from being an “NFT project” to becoming a “leading media franchise.”
In a March 18 post on the project’s Discord, one of the doodle’s founders, Jordan Castro — who goes by the pseudonym “poopie” online — said it wanted to move away from financial speculators.
“We’re trying to go from a startup to a leading media franchise. We are no longer an ‘NFT project,’” said Castro.
Doodles was launched in October 2021 and has grown to reach a $704 million valuation according to a September 2022 funding round. The collection also boasts iconic musician Pharrell Williams as its chief brand officer.
Going forward, Castro said doodles will focus on its “most loyal collectors” and it won’t spend resources “appeasing those with financial motivations.”
Many on Twitter took issue with the apparent shift in focus and pointed to other perceived problems with the project such as its recent lack of communication and a March 16 NFT sock drop.
And after millions and millions in funding and you clowns bring us socks!?
This space has become a joke
— Crypto Bitlord (@crypto_bitlord7) March 15, 2023
Some were, however, supportive of the move with NFT startup founder, Daniel Tenner tweeting “the quicker we get rid of the term ‘NFT project’ the better,” adding such projects “are all startups/businesses.”
Castro later tweeted a response to the criticism and doubled down on its new focus but said it “will continue to use NFT tech as the connective tissue between everything we do.”
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
He added the aim was to “evolve beyond vicious speculative cycles” by “bringing in intrinsically motivated users,” solving real problems and releasing products with a market fit.
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