Get Ready to Make Some Doodles

Wearable items for Doodles 2 go live on Flow blockchain and are tradable on Gaia marketplace.

Author

The Metadata
January 31, 2023

GM. Today is a gift, and we're here to unwrap it with a chuckle and a smile. In today's issue, you'll notice that we've moved the "New Projects" section to the bottom, so that can you see the most important tweets more easily. Let us know if you like this!

Today we cover:

  • Market Update: Sewer Passes sink

  • Get ready to make some noodles...I mean Doodles

  • Today's Coolest Tweets

  • New and Interesting projects

Market Update: Sewer Passes Sink

Yet another quiet day for NFT markets. Otherdeeds and Doodles are leading in terms of trading volume but their floor prices are mostly unchanged.

Yuga Lab's Sewer Passes have taken a bit of a tumble these last few days, with floor prices falling from 3 ETH to 2.3 ETH. We expected this to happen as the initial hype around the game wears out and people get bored. There are still 5,000 passes yet to be minted (out of a total supply of 30,000), which could add to the selling pressure.

Get Ready To Make Some Noodles...I mean Doodles

💲 What to know: Doodles' long-awaited dooplication feature is going live tomorrow. Doodles NFT owners will be to use a dooplicator (another NFT) able to create wearable NFTs based on their Doodle's traits, as well as receive a beta pass to access Doodles 2.

Doodles is a 10k PFP project with a floor price of 6.5 ETH ($10,000) today.

☘️ In the weeds: Doodles has been laser-focused on creating a mainstream brand. To do so, it knows that it needs to expand beyond its genesis collection 10,000 NFTs, and make its collection accessible to millions of people globally.

Enter Doodles 2, which will allow anyone to create their own Doodle NFT at a very low cost. This is planned for launch later this year. You will be able to customize your Doodle 2 with various items and make it unique.

Tomorrow's Dooplication is the first step, where you can take the original Doodle and create items for Doodles 2.

There's also a feature for Doodles holders to sell their rights to dooplicate their Doodles on the marketplace, which we think is pretty cool. Doodles with rare traits will be highly sought after because they will yield rarer, limited-edition Doodles 2 items.

🤑 Why it matters: Doodles is a Web3-native brand with probably the greatest mainstream appeal. It's fun, colorful, and family-friendly. It's placing a big bet on its next product, Doodles 2 — that people will want to collect and personalize their own Doodles characters.

All of the wearable items will be on Flow blockchain and tradable on Gaia marketplace. This is the first of its kind for a PFP project. It's hard to predict what will happen once all of these NFTs become tradable.

  • Will people be buying and accumulating rare wearables? (Probably)

  • Will Doodles holders use the opportunity to cash out and sell their rights/NFTs? (Likely some)

  • What will be the most expensive wearable? And how much will it sell for? 🤷‍♂️

Price discovery creates opportunities. Expect there to be discrepancies, inefficiencies, and volatile prices. We will be watching closely.

Today's Coolest Tweets

🐥 The battle heats up between Blur & OpenSea

🐥 Oh Baby Games raises $6M seed round

🐥 How to quickly filter out Web3 gaming projects

🐥 PleasrDAO is auctioning the Doge's couch

🐥 SudoSwap's SUDO token goes live.

🐥 The search for NFT "Utility"

🐥 Top VC investments in 2022. Don't let them dump on you.

New Projects Corner

🍿 Sartoshi announces the first artists to mint. (Premint raffle in thread)

🍿 (Open Edition) Toy Boogers jumping on the OE train

🍿 (Open Edition) Killabear's artist Memo Angeles

🍿 (Open Edition) FVCKRENDER introduces new artworks via burn mechanism

That's it for today folks, see you tomorrow. If you want more, follow us on Twitter (@the_metadata). And if you aren't already a subscriber, join us now to get all the daily alpha you need.

We're looking to improve the newsletter and make it as relevant as possible for you. If you have any feedback to share — please just reply to this email and let us know. Or even to just say 'Hi'.

Disclaimer: This newsletter is for educational purposes only. None of this is financial or investment advice. It is not a solicitation to buy or sell any assets. Minting and buying NFTs is risky. Please do your own research.