What is Doodles (DOOD)

Doodles and the $DOOD Token: A Comprehensive Analysis of Web3 Innovation

Overview

Doodles, originally launched as a collection of 10,000 unique NFTs in October 2021, has undergone a remarkable transformation into a vibrant Web3 ecosystem. This ecosystem emphasizes community-driven storytelling, decentralized governance, and innovative AI-powered creativity. The introduction of the $DOOD token on May 9, 2025, on the Solana blockchain marks a significant shift from static digital collectibles to an interactive, utility-driven platform. With a staggering 68% of its total 10 billion token supply dedicated to community initiatives, $DOOD fuels the DreamNet protocol— a decentralized framework designed for collaborative worldbuilding, character creation, and value distribution. This report delves into the foundations of Doodles, its technological innovations, governance structure, and overarching vision, positioning it firmly at the forefront of the NFT and Web3 landscapes.

Origins and Foundational Vision

The Genesis of Doodles

Doodles was conceived through the collaborative efforts of three visionary co-founders: Evan Keast, Scott Martin (known as Burnt Toast), and Jordan Castro. Keast, with a background at Dapper Labs and CryptoKitties, brought an understanding of the crypto ecosystem, while Martin, a talented Canadian illustrator, infused the project with captivating aesthetics. Castro also contributed his technical acumen from his CryptoKitties experience. The Doodles project emerged with the intention of blending whimsy and accessibility into the NFT space, showcasing hand-drawn, pastel-colored characters adorned with various traits such as animal costumes and surreal accessories. Notably, the project emphasized community governance through the Doodlebank, established to empower holders with decision-making capabilities regarding funding for brand collaborations, events, and derivative projects through a transparent treasury system funded by secondary sales royalties.

Strategic Pivot to Web3

In 2022, Doodles made a significant leap by securing a $54 million Series A investment led by Seven Seven Six, a venture firm founded by Alexis Ohanian. This funding, complemented by contributions from Acrew Capital, FTX Ventures, and 10T Holdings, enabled Doodles to expand its leadership team, most notably appointing Julian Holguin, a former Billboard executive, as CEO. Additionally, the project welcomed renowned artist and producer Pharrell Williams as Chief Brand Officer, thus signaling an ambition to explore intersections with music, gaming, and broader entertainment realms. By the following year, Doodles unveiled DreamNet, an innovative AI-driven protocol aimed at reimagining collaborative storytelling, thereby completing the transition from a static NFT collective to a dynamic Web3 media ecosystem.

The $DOOD Token Ecosystem

Tokenomics and Distribution

The $DOOD token, with a total supply of 10 billion tokens, is allocated strategically to encourage community engagement and foster ecosystem growth. The distribution is divided as follows: 30% is airdropped to Doodles NFT holders and members of the New Blood community; 38% is reserved for ecosystem development, including liquidity pools, grants, and partnerships; 20% is allocated for the founding team and advisors; and 12% is retained for future development within the treasury. Operating natively on the Solana blockchain, $DOOD has plans to bridge to Base L2, enhancing interoperability across blockchain networks. Its deflationary mechanics align with DreamNet's use, where users must lock $DOOD to create characters and narrative elements, thus gradually decreasing the circulating supply.

DreamNet: A Decentralized Storytelling Protocol

At the heart of Doodles’ innovative approach is DreamNet, a groundbreaking decentralized storytelling protocol designed to combat the monopolistic tendencies of centralized AI platforms. DreamNet comprises three pivotal components:

1. Agent Tokens: These represent programmable AI characters that can only be minted and trained through the use of $DOOD. Each of these tokens’ interactions are meticulously tracked within the Vector Worldstate, a comprehensive ledger that captures all narrative contributions by users.

2. Place Tokens: These are the architecturally persistent settings (such as cities or planets) where agents can interact. The creation of a Place Token necessitates staking $DOOD, with integrated liquidity pools asserting economic value.

3. Reference Fees: These automated $DOOD payments are disbursed to creators whenever their content is utilized in external applications, thereby providing a continuous revenue stream for active participants in DreamNet.

This robust ecosystem facilitates community collaboration and creativity, allowing fans and developers to co-create narratives, with the ecosystem rewarding the popular ideas for their organic emergence.

Governance and Community Dynamics

Decentralized Decision-Making

Doodles adopts an empowering governance model, encapsulated in the principle of “1 Doodle = 1 Vote,” which allows NFT holders to actively guide the project's future direction. This decentralized voting mechanism has funded numerous initiatives within the Doodles universe, including updates and expansions like Space Doodles—a spaceship-themed NFT collection, and Pukenza, which features generative art collaborations. With the introduction of the $DOOD token, governance extends to token holders, enabling them to propose and vote on vital parameters for DreamNet, including treasury allocations and partnership strategies.

The Doodlebank’s Evolution

Initially established as a treasury holding 420 ETH, the Doodlebank now integrates the $DOOD token to facilitate ecosystem grants. Recent proposals have showcased the community’s ambition to fund indie game studios tasked with creating DreamNet-compatible experiences, as well as supporting research partnerships in the AI domain. This financial strategy underscores Doodles’ commitment to fostering creativity and innovation within its ecosystem.

Strategic Partnerships and Media Expansion

Brand Collaborations

Doodles has successfully forged a series of prominent partnerships that widen its reach and enhance its cultural relevance. Collaborations with brands such as McDonald's, Pharrell Williams, and Golden Wolf exemplify Doodles’ approach to leveraging its intellectual property while ensuring compliance through a rigorous licensing framework. This structure allows NFT holders to commercialize their collections for earnings below $100,000 without prior approval, thus promoting a culture of grassroots creativity while safeguarding brand integrity.

Cross-Industry Integration

The internal studio, helmed by animation giant Golden Wolf, plays a vital role in producing animated content that cycles back into DreamNet. An example of this closed-loop system includes Doodles-themed short films, which can introduce new characters for fans to further develop through the DreamNet protocol. This model blurs the lines between traditional professional content creation and community-generated contributions, aiming to enhance user engagement and investment in the Doodles universe.

Timeline of Key Milestones

The trajectory of Doodles is punctuated by pivotal milestones that illustrate its rapid evolution:

• October 2021: Doodles NFT collection is launched on the Ethereum blockchain, selling out at a mint price of 0.123 ETH.
• January 2022: A prominent figure purchases Doodle #6914 for 296.69 ETH, exemplifying the high demand for collectibles.
• September 2022: The $54 million Series A funding round is completed at a valuation of $704 million; Julian Holguin is appointed as the new CEO.
• March 2023: The Doodle Map is launched, serving as a community-driven roadmap for ecosystem expansion.
• November 2024: The announcement of the DreamNet protocol alongside plans for the $DOOD token infrastructure.
• May 2025: The successful launch of the $DOOD token on the Solana blockchain, signaling a new chapter for the Doodles ecosystem.

Conclusion: Redefining Web3 Storytelling

The metamorphosis of Doodles from a mere collection of NFTs into a sophisticated tokenized storytelling platform underscores the immense potential of Web3 to democratize creativity. By harmonizing AI-generated content with decentralized governance and a deflationary token model, Doodles challenges the status quo of traditional media monopolies and incentivizes community participation at every level. While this ambitious project navigates the complexities of maintaining intellectual property control amid growing decentralization, and scaling its technical infrastructure to meet user demands, Doodles stands poised to continue leading the charge in redefining modern storytelling. As it ventures into uncharted territories, the community's engagement and adaptive governance will be crucial to Doodles' sustained success, reshaping how stories are told and experienced in the digital age.