A community-driven collectibles NFT project, with an operational treasury system.
QC by Dave Sing
Research Summary
Development
Created by a group of three individuals known collectively as The Doodles Founders, the Doodles project was created with the goal of onboarding individuals into the NFT space. The solution was a community driven NFT collectibles project with a working treasury system for future development.
Since launch, the Doodlebank (community-led treasury) has generated millions of dollars. While not robust, there is a roadmap that currently exists for the project centered around expanding the team and rolling out proposals to the community. No recent technical issues were identified for the project.
Tokenomics
Each Doodle represents a vote on proposals for the use of the community treasury (aka Doodlebank).
Metrics accurate as of January 4, 2022:
Doodles were made available through a whitelist process to the public on October 17, 2021 at a cost of 0.123 ETH each. There are 10k Doodles available, with 5.5k individual wallets holding at least one. This breaks down to approximately 1.81 Doodles per wallet.
There has been 41,780 ETH worth of volume traded over a 90-day period, or about 464 ETH per day (worth $1,772,480 at $3,820 per ETH).
Community
The official Twitter page for Doodles has 131.4k followers and the Discord has 26,337 members. Both appear to have authentic users participating in discussion.
Some notable holders of the Doodles project include Gary Vaynerchuk, Jake Ryan, Richie Shaffer and Pranksy. While Doodles currently enjoys a strong financial position in the NFT space, it is not the top performing NFT brand.
Conclusion
Based on the research conducted, Doodles (DOODLE) appears to be a fundamentally strong project.
Potential Red Flags
Development – A formal code audit was not identified for the project.
Dark Paper
View the Doodles (DOODLE) Dark Paper for a detailed scoring breakdown.
While we do our best to ensure the highest quality of information in our reports, we cannot guarantee the validity of all sources derived from the public domain. Please exercise caution when investing.
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