Doodles are a collection of 10,000 algorithmically generated doodled characters on the Ethereum blockchain.
NFTs (non-fungible tokens) are here to stay. It might seem like the common use cases right now are in gaming, collectibles, and digital art, but soon, the focus will eventually shift to other critical areas such as medical records, real estate, and intellectual properties.
With this projected evolution, NFTs have a high potential of becoming a more massive industry in the future, which means that today might be a good time to be in this space. Learn as much as you can, and perhaps even what you can afford to lose.
Doodle is headed by individuals who have already worked on some of the biggest web2 companies and successful projects in the blockchain space. Evan Keast (a.k.a Tulip) is a product marketer and NFT consultant who has previously worked with Jordan Castro (Poopie) on the highly-successful Crypto Kitties project. Meanwhile, Scott Martin (Burnt Toast) is an animator and the man behind Doodle’s refreshing visuals.
What are Doodles?
Doodles are a collection of 10,000 algorithmically generated doodled characters on the Ethereum blockchain and are now available at OpenSea. The project is a world filled with diverse yet adorable characters such as humans, cats, apes, aliens, skeletons, sentient flames, and yes, even pickles!
The team initially priced their collection at 0.123 ETH per mint, which was considered high during that time, with most PFP projects just hovering below the 0.1 ETH threshold. This decision ensured that they could establish a strong foundation for the then newly-launched treasury.
One of the most striking things about the collection is its doodle-style art and creative combination of colors, which is a migration from the overly detailed aesthetics seen in other NFT collections. Burnt Toast initially created hundreds of unique traits for Doodles, but the team eventually adopted the random trait mix-and-match style used by Bored Apes and Crypto Punks.
Technically, the Doodles ecosystem can be described as a big decentralized autonomous organization (DAO), as it allows every holder to participate in critical decisions related to platform products, events, and features. Doodle’s DAO system has worked well so far, as members have already voted for various development decisions, including funding of 3D Doodles, live events, and more. Apart from voting power, holders also have exclusive access to the collection’s latest merchandise, events, and other offerings.
Doodlebank is Doodle’s community treasury, which has over 650 ETH and implements a “One Doodle = One Vote” rule when holders are voting on critical areas in the treasury.
The Bank aims to focus on building a competitive team, collaborating with various firms, providing fresh experiences for the community, and maintaining the platform’s sustainability. Also, it has no interest in promising bold goals such as game or metaverse creation for the collection, like what other projects are doing. Instead, it would launch a series of experiments to test various initiatives, pick the ones with the highest potential, and seek partners to launch these features.
Doodlebank Champion is someone who has a worthy idea to propose that could contribute to the further development of the platform. The treasury version 0.1 equips holders with the power to vote on proposals with the highest potential, which will then go through the Founding Team’s upgrading process.
Stages of Proposal Approval
Create a ‘Doodle Discourse’ Thread for the Idea
An idea cannot be fast-tracked on the preliminary proposal; it must first go through various stages to ensure its feasibility for the platform. First, a Champion must bring an idea to the project’s discussion forum called ‘Doodle Discourse’, where the proposal can garner opinions from the community.
Once an idea gained general positive feedback, the proposal is considered potentially viable.
Approved as a Final Proposal
When a preliminary proposal has reached quorum and majority support, the Founding Team will upgrade the idea to a Final Proposal and will provide additional details to the idea if seen necessary. While it has always been the intention of the team to keep the original idea as intact as possible, several tweaks or significant changes may occur along the way as it needs to adapt to legal, financial, and business matters.
Voting for Final Proposal
The final proposal will now be open for voting. But the team confirmed that quorum thresholds for each proposal would adjust based on the effort and funds allocated by the Champion. This decision ensures that proposals with bigger costs and efforts can gain a higher turnout from the community.
‘Space Doodles’ are personal spacecraft for each Doodle character and are generated through competency-based stats and more than 200 audio-visual traits. Technically, a Space Doodle is an NFT token that wraps a Doodle, allowing holders to have a new character variation. And while holders are free to own an ordinary Doodle or a Space Doodle, they are prohibited from holding both, a rule enforced by the platform’s smart contract logic.
Visuals and benefits are two vital assets evident in the Doodle collection. Its eye-candy aesthetics and DAO feature have already produced great results for the community and the platform. Another prominent feature it has is its Doodlebank, which brings holders a series of exclusive benefits and opportunities to get their proposals approved. And while it’s still far compared to other bluechip Ethereum collections when it comes to revenue, it still holds the potential to become one of the most significant projects in the protocol.