Burnt Toast, the creator of the popular NFT collection Doodles, has sparked renewed excitement around the collection with cryptic hints at an upcoming token launch.
On December 19, Burnt Toast took to his personal X account to share the message; “take ownership, keep evolving new ideas, shape communities, open minds, inspire new growth.” Taking the first letter of each word, we get the message “token is coming”.
This tweet led to immediate price movement in Doodles NFTs, with the floor price rising from 4.39 ETH to a high of 8 ETH. As of writing, the floor price now sits at 6.75 ETH – which still represents a 50%+ increase.
What is Doodles?
Doodles is a collection of 10,000 vibrant NFT characters, built on Ethereum. Drawn by co-founder Burnt Toast, each Doodle features a combination of traits, ranging from hairstyles and clothing to accessories and more.
The Doodles NFT collection is perhaps best-known for signing musician Pharrell Williams as their Chief Brand Officer in 2022, giving the collection instant mainstream credibility that hadn’t been seen in the NFT industry to date.
Today, Doodles are wrapping up a fantastic 2024. The past 12 months have seen top-tier partnerships with the likes of McDonalds, AriZona iced tea and PlayStation, and the release of their first animated film – the Golden Wolf-produced Dullsville and the Doodleverse, which premiered at the Toronto International Film Festival in September 2024.
How could a token impact Doodles?
Doodles is the latest NFT collection to take inspiration from the explosive success of the recent token from Pudgy Penguins, $PENGU.
In short, the announcement of $PENGU led to the floor price of Pudgy Penguins doubling before the token generation event (TGE). Whilst the launch saw the floor price drop once again, it was still above its pre-announcement value – and the collection now has a $1.5 billion USD market cap token to boot.
Many NFT collections are eyeing up new token releases, with both Doodles and Cool Cats dropping teasers that have led to rocketing floor prices. It remains to be seen if the Doodles token – which has yet to reveal any details beyond the cryptic tweets – will be able to reach the same success.
COO & founder of NFT Insider. Bullish on web3. Competitive soul.