NFT Collection Doodles Sees 400% Spike In Volumes On This

    Major NFT collection, Doodles, announced the launch of Doodles 2 at the NFT.NYC conference. Doodles also named popular music producer Pharrell Williams as their Chief Branding Officer.

    Doodles saw its sales volume skyrocket almost 400% and its floor price by 11%, both in the last 24 hours.

    Meanwhile, the NFT.NYC conference failed to generate enthusiasm for the BAYC and CryptoPunks NFT collections. Both saw their trading volumes slip 34% and 57%, respectively. 

    Big Announcements By Doodles at NFT.NYC

    Alongside the announcements of Doodles 2 and Pharrell Williams, Doodles also revealed a music album “Doodles Records: Volume 1”, that will be released in partnership with Columbia Records. Pharrell will serve as the executive producer for the album.

    They also disclosed that Reddit co-founder Alex Ohanian’s venture capital firm Seven Seven Six led the first round of financing. Moreover, Doodles will also develop a game based on their art.

    These announcements are perhaps the reason why Doodles was one of few NFT brands to see a massive increase in price and sales volume.

    Disappointment For BAYC And CryptoPunks Despite NFT.NYC

    The NFT.NYC conference failed to raise any enthusiasm for NFTs. The Bored Ape Yacht Club won the award for ‘Best NFT Business Model’. Despite that, BAYC saw its sales volume drop by almost 34% and its price by 7%. 

    CryptoPunks saw an even bigger drop, with their sales volume dropping by 57%. Art Blocks Curated, Udder Chaos, Primates and CryptoPunks V1(Wrapped) also lost big. 

    However, some major names in the NFT industry seem unconcerned with the struggling NFT market. Chris Cantino, the co-founder of Color Capital, revealed on Twitter that people at NFT.NYC conference were more interested in talking about building the future, rather than the fluctuating prices.

    With major NFT brands struggling amid the recent NFT selloff, it remains to be seen how the market will recover from this downturn. NFT sales have been waning for most of the year, after peaking in 2021. 

    Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a fim believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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