Doodles NFT Project Raises $54M At $704M Valuation
Funding Round Led By Alexis Ohanian's Seven Seven Six
By: Owen Fernau • Loading...
NFTs & Web3![Doodles NFT Project Raises $54M At $704M Valuation](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F54ddf05af668c9f92a9fc6b147506ac89d736e10-880x495.jpg&w=828&q=75)
After over a month of silence on Twitter, Doodles are back with a bang.
The popular NFT project announced a $54M raise on Sep. 13 that values Doodles at an eye-popping $704M. Alexis Ohanian, the co-founder of Reddit, led the funding round through his venture firm Seven Seven Six, according to Forbes.
Doodles have generated over 1,000 ETH, over $1.5M by Sep. 13 prices, in secondary sales since the announcement. That’s good for first among all projects, and well over double the volume for heavyweights like CryptoPunks and Bored Apes in the past 24 hours.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F79bdb8a9dff3b50eea03b55edce4b88f42768040-866x173.png&w=828&q=100)
Top 5 NFT Projects By Volume. Source: Dune
Doodles said on Twitter that the funding will be used for 18 new full-time positions including heads of finance, marketing, and business affairs. The project brought on American musician Pharrell Williams in June to serve as the company’s chief brand officer.
![Pharrell Williams Makes NFT Fans Happy with Doodles Move](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F6f2abcb4620e5e000cf01fefbe5b1e6e9a7668c6-880x495.jpg&w=828&q=75)
Pharrell Williams Makes NFT Fans Happy with Doodles Move
Rapper Caps Big Week for NFTs with Music Push
![The Defiant](/_next/image?url=%2Ffavicon.png&w=64&q=75)
Floor Price Up 16%
The Doodles’ floor price has risen 16% to 8.35 ETH in the past day, according to Nansen, a crypto analytics platform. That means the cheapest Doodle is listed for just over $13,000, going by Ether’s Sep. 13 price of $1,582.
Doodles peaked at 23 ETH in early May. The floor price has generally trended downward since then save for a small rally in early July.
![the-defiant](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F47636534bb2acb652acbeecf86e9f1aeb8ff3f42-916x400.png&w=828&q=100)
Doodles Price And Volume. Source: Nansen
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