Doodles Announces $54M Raise at $704M Valuation to Expand in Music and Gaming NFT Sectors

Today, Doodles, the popular NFT collection best known for its pastel-colored PFPs, announced a $54M raise led by Reddit co-founder Alexis Ohanian’s Seven Seven Six Ventures to expand in the music and gaming NFT sectors.

Launched in 2021 by Dapper Labs pioneers Evan Keast and Jordan Castro (Poopie), along with Canadian–based artist and illustrator Scott Martin (Burnt Toast), the project catapulted its way to the top after capturing the hearts of NFT enthusiasts alike.

“We want to create products for our core collector base, but at the same time utilize these great forms of marketing like music, to introduce new people to Web3 and onboard them into the Doodles ecosystem,” says Holguin, CEO of Doodles.

In a tweet, the company announced its plans to use the funding to acquire a world-class team of engineers, creatives, marketers, and business executives and fund product development, acquisitions, proprietary technology, media, and collector experiences.

According to Forbes, “Doodles’ music NFT project will be released in partnership with Columbia Records in the next six months. The company would not provide details other than its involvement in a song that would get radio play and streaming exposure but have “an underlying adaptation experience” for NFT holders.”

Were you lucky enough to mint a doodle last year? Are you looking forward to picking one up after hearing the news? Let us know in the comments below. 👇🏽