Pharrell Williams Makes NFT Fans Happy with Doodles Move

Rapper and entrepreneur Pharrell Williams is diving headlong into web3.

The Doodles NFT project announced that he’s coming on board as its chief brand officer at an event held during the NFT.NYC conference on June 22.

“We’re going to build from the core community outward and bring Doodles to new heights, new levels,” the entertainer said via video at the holders-only event.

The project is planning a foray into music NFTs, with Pharrell slated to produce an album titled “Doodles Records: Volume 1”, which will be sold as NFTs but also made available for streaming on various platforms.

Doodles 2

Doodles also unveiled plans for a new NFT collection at the event. CEO Julian Holguin, who joined the project in May after an impressive tenure at Billboard, said that the new collection will be far larger than the original collection of 10,000 avatars. It will be launched on a yet to be specified “more accessible” blockchain.

Doodles 2… coming soon. https://t.co/8gw3OeeQfs pic.twitter.com/c33BB0GLqP

— doodles (@doodles) June 22, 2022

The party didn’t stop there. Holguin went on to disclose that Doodles has secured an undisclosed amount of funding from Reddit co-founder Alexis Ohanian’s VC firm, Seven Seven Six.

Investors cheered the news, bidding the floor price of the collection up to 14.89 ETH ($16,000). That’s a steep rise from a low of 8.58 ETH hit just ten days ago, according to data from CoinGecko.

Gallery Of Digital Assets (GODA)

Pharrell appears to have the Midas touch when it comes to NFTs.

Last month, he launched the GODA project along with a diverse team of artists, NFT collectors and advisors. The project aims to be “the trusted and curated source for leading contemporary artists looking to explore digital as a new medium,” according to its website.

One thousand GODA mint passes were made available for sale at 1 ETH apiece and sold out quickly. Whitelisted minters made up more than 80% of sales, and the remaining few NFTs were snapped up in seconds. Pass holders are guaranteed access to future drops and can expect exclusive access to the project’s artists.

Over the past week, the floor price of the collection has more than doubled from roughly 5 ETH to 11 ETH.

State Of The Market

As ETH continues to trade around the $1,000 mark, NFT sales volumes remain tepid at best, with just $220M traded in the week ending June 20.

Floor Prices

Major NFT collections saw an uptick in prices this week after last week’s bloodbath.

• Bored Ape Yacht Club – Down 4% this week to 88.5 ETH
• CryptoPunks – Up 29% to 63 ETH on the back of Christies’ Noah Davis taking up the mantle of Brand Lead.
• Otherdeeds – Up 22% to 2.5 ETH
• Moonbirds – Up 20% to 19 ETH
• Clone X – Up 14% to 10.5 ETH
• Azuki – Up 33% to 12 ETH