What Is The Doodles NFT Collection?

Finally, the picture around the most anticipated Doodles 2 NFT collection is becoming quite clear. The developers teased some additional details about their expansion collection at NFT.NYC. Furthermore, Doodles held a successful auction for its Genesis Box NFTs that will play an integral role in the Doodles 2 ecosystem.

But, what is the Doodles 2 collection? How big is it?

Recent news about Doodle’s new NFT collection came straight from the team at Doodles’ NFT NYC event. Interestingly, the web3 brand’s announcement of Pharrell Williams as its new Chief Brand Officer was majorly celebrated within the NFT space. The team also confirmed the announcement of a major investment from Alexis Ohanian’s VC Company, Seven Seven Six.

Furthermore, there was an update on the Doodles 2 collection. The original Doodles collection is limited to 10,000 NFTs. On the contrary, Doodles 2 is the brand’s effort to bring Doodles to a massive audience. The team has also suggested that there might be millions of these new non-fungible tokens.

In general, the aim of the Doodles 2 collection is to become accessible and customized. People can acquire a basic Doodles NFT, select some basic traits, and also customize their NFT with various wearable accessories. Additionally, these wearables will have different rarities, adding some more excitement to this mix.

What Blockchain Will Power Doodles 2?

In service of their goal of accessibility and to facilitate gasless customizing, the Doodles team has stated that Doodles 2 will not be on Ethereum. While the team is yet to determine what chain Doodles 2 will thrive on, it has said that it is considering Layer 1 blockchains and Ethereum Layer 2 scaling solutions.

Another major point that most on NFT Twitter have referred to is the major Dapper Labs connection to Doodles. Two of the Doodles founders Jordan Castro and Evan Keast, worked at Dapper Labs previously. The firm, which developed both the NBA Top Shot and CryptoKitties, has its blockchain known as Flow. Therefore, many believe that Doodles will go live on Flow.

Irrespective of the Doodles 2 Chain, the team has confirmed its commitment to continue building its community on Ethereum. Doodles went with an innovative auction method for its Genesis Box NFTs.

What Are Genesis Box NFTs

To put it simply, Genesis Boxes are the first set of accessories that will be utilized to customize Doodles 2 NFTs. As the Doodles website states:

“Each one-time-use Box contains a rare assortment of apparel and accessories.”

24,000 Genesis boxes are available in the market. The first 4,000 Genesis Boxes were given to the Doodles holders and their guests in person while attending NFT.NYC. Through the partnership with Shopify, buyers can reserve a box for $123 using a credit card adding to the funky ‘minting machines’ that added to the in-person buying reservation experience. For now, it seems Doodles Bucket has successfully avoided a gas war.

The Bucket Auction For Genesis Boxes

The other 20,000 Genesis Box NFTs went on sale in a “bucket auction”. Nate Alex (@NateAlexNFT on Twitter) said in a thread the reasoning behind the move. The Bucket Auction let people submit bids between 7 PM EST June 29, and 7 PM EST June 30. The idea was that a big window would prevent gas from being too high at any given time due to people bidding simultaneously. Alex added:

“At the end of the window, there is a threshold price which must be cleared for your bid to be accepted. If your bid is 2x the threshold, you will receive 2 NFTs. If it’s 1.25x the threshold, you’d be able to refund yourself the excess above the threshold”.

Furthermore, anybody whose bid dropped under the threshold price got a refund of their bid. Apart from saving a ton on gas fees, the Bucket Auction also let the market demand effectively set the mint price of the Genesis Boxes. Notably, the tactic worked as planned, as Nate Alex, later on, tweeted that his winning bid cost him $2 in gas fees.

Eventually, the Doodles website reports that there were 4,446 winning bids for the 20,000 Genesis Boxes. Consequently, 2,172 bids did not win an NFT but will get refunded. The threshold price for the nonfungible tokens ended up being 0.508 ETH. In that context, the infamous NFT collector Pranksy landed as the top bidder, paying 290.01 ETH for 570 boxes.

How Do The Dooplicator NFTs Play Into Doodles 2?

The Dooplicators were a secondary collection of NFTs that Doodles released back in May. Doodles holders may allege that the Dooplicators for free (+gas) for all their Doodles NFTs. At the time of the launch, there were not a lot of details about the Dooplicators.

In that context, the utility of the Dooplicators is that they produce various wearables for the Doodles 2 ecosystem. Apart from their ability to “dooplicate” accessories from the Genesis Box NFTs, they can also reproduce traits from the original Doodles collection.

Taking into consideration how the customization factors into the Doodles 2 experience, the Dooplicators value comes from their significant importance to the long-term functioning of the new collection.

When Can Users Buy A Doodles 2 NFT?                                           

Although there is no set date, the Doodles 2 NFTs will launch sometime this year. Until that happens, you can stay tuned to learn more about exciting developments with the expanding NFT brand.