Doodles Set to Launch Official Token $DOOD on Solana

Doodles, the sixth-largest non-fungible token (NFT) collection by market cap, has unveiled plans to launch its token DOOD, according to an announcement on its X account on Feb. 13.

DOOD will use the Solana blockchain and have a total supply of 10 billion tokens.

The token will be distributed among the Doodles community, the company, and the team. 30% of the supply will be allocated to the Doodles community, 25% to its ecosystem fund, and 17% to the team. Meanwhile, 13% of the supply will go to “new blood,” 10% to liquidity, and the remaining 5% to the company.

The Doodles team shared their plan to bridge the $DOOD token to the Coinbase-incubated Layer 2 Base.

“$DOOD will launch with a supply of 10,000,000,000 on Solana, with a future bridge to Base,” the Doodles team mentioned in the X post.

Since Doodles launched as an NFT project, the brand has expanded into an array of segments, including animation, music, and partnerships. Doodles has partnerships with famous brands, including McDonald’s, Adidas, and Pharrell Williams.

The Doodles' NFT volume was around $7.34 million in the last 24 hours, as NFTPriceFloor data shows. Volume is up by 611% during the last 24 hours as of the time this is written.

On Jan. 28, Scott Martin said he would be stepping in as CEO.

“I am stepping in as CEO of Doodles. We’re moving to a vision with a strong bias for risk, disruption, radical transparency, and the authenticity that made us who we are in the first place,” he said.