Doodles NFT collection teases potential token launch

Key Takeaways

Doodles NFT collection’s floor price increased significantly following hints of a token launch.
The potential token launch follows past collaborations with McDonald’s, Adidas, and Crocs, expanding Doodles beyond the crypto space.

Doodles founder Burnt Toast has hinted at a potential token launch for the NFT collection in a post on X.

take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth pic.twitter.com/iEBabGfwh3

— burnt toast (@burnttoast) December 19, 2024

Founder Scott Martin, also known as Burnt Toast, posted a cryptic message on platform X earlier today:

“take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth”

Community members quickly noted that the first letters of each phrase spell “token is coming” fueling speculation about the launch of a token for the project.

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This buzz translated into market activity, with the collection’s floor price rising from 4.3 ETH to 6.5 ETH, according to CoinGecko data.

With this surge, Doodles has cemented its position as the sixth-largest NFT collection by market cap, valued at $220 million.

The buzz around a potential token launch comes on the heels of Doodles’ recent collaboration with McDonald’s, which launched just a month ago.

The partnership, titled “GM Spread Joy,” features Doodles’ artwork on over 100 million limited-edition McCafé holiday cups, available at McDonald’s locations across the United States.

In addition to its McDonald’s collaboration, Doodles has also partnered with major brands like Adidas and Crocs to release exclusive apparel, toys, and online digital experiences.

The move by Doodles mirrors a broader trend of NFT collections launching native tokens to expand their ecosystems.

Pudgy Penguins, for instance, recently launched their token, PENGU, which saw an initial surge but dropped over 50% shortly after its airdrop.