Doodles has been one of the most successful NFT projects of all time. However, recent comments from co-founder Jordan Castro have caused controversy among collectors. According to Coin Market Cap, the project is ranked 9th in the most traded NFT collections over the last 30 days. Despite this success, Castro is now distancing the project from NFTs.
Moving Beyond NFTs Castro stated, “We’re trying to go from a startup to a leading media franchise. We are no longer an ‘NFT project’.” He believes that investing resources in following the latest “build in public” trends that fuel speculation detracts from achieving the project’s long-term vision. Castro also stated that the project would not spend any resources appeasing those with financial motivations. Instead, they will focus on their most loyal collectors.
Mixed Reactions Castro’s comments on his official Twitter channel reinforced that Doodles isn’t an NFT project. Some collectors view this move away from NFTs as positive. However, others view Castro’s words as disingenuous. One collector wrote, “Everyone has financial motivations. It’s disingenuous to talk like this.”
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
Frustrated Community The Doodles NFT collection floor price is plummeting downwards, causing tension in the community. In the last 30 days, the floor price dropped from almost 6 ETH to 3.75 ETH at the time of writing. One of the most successful NFT projects of all time is moving away from NFTs, and the community is processing that pivot with mixed emotions.
Conclusion While some collectors support Castro’s decision to move beyond NFTs, others view it as disingenuous. Nevertheless, the Doodles co-founder is determined to steer the project away from vicious speculative cycles and towards becoming a leading media franchise. As the project evolves, it remains to be seen how the community will react to the shift away from NFTs.