Founder of Doodles Scott Martin hinted at a possible token launch for the NFT collection in a cryptic post on the X platform. Community members noticed that the first letters of each sentence read “token is coming,” fueling speculation of a token launch for the project. That excitement translated into market activity, with the collection’s reserve price rising from 4.3 ETH to 6.5 ETH, according to CoinGecko.
With this increase, Doodles strengthened its position as the sixth largest NFT collection by market cap, with a value of $220 million. The buzz around the potential token launch follows Doodles’ recent partnership with McDonald’s, which started just a month ago. The partnership, called “GM Spread Joy,” will see Doodles’ artwork appear on more than 100 million limited-edition McCafé holiday cups available at McDonald’s restaurants across the US.
In addition to the partnership with McDonald’s, Doodles also works with major brands such as Adidas and Crocs to release exclusive clothing, toys and online digital experiences. Doodles’ move reflects a larger trend of NFT collections launching their own tokens to expand their ecosystems.
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