Doodles Ethereum NFT Collection Sales Surges Over 1200%

• The Doodles floor price was 8.23 ETH, or nearly $13,100.
• The team plans of releasing a larger-scale Doodles 2 collection.

Sales of Ethereum NFT doodles have increased by almost 1,200% in the last 24 hours with the news of a $54 million investment round.

That’s what CryptoSlam says happened in the last 24 hours, reporting $2.1 million in sales of Doodles NFT. According to the platform’s rankings, which factor in sales from all marketplaces, this is a 1,224% increase over the preceding twenty-four-hour period. It has had the highest volume of any project during that time, almost twice that of the Ethereum project Renga ($1.07 million).

The floor price, or the price of the least accessible listed NFT, is increasing as NFTs fly off markets (141 have been sold in the previous 24 hours). At the time of writing, the Doodles floor price was 8.23 ETH, or nearly $13,100, a 19% increase over the previous day.

Recent Fund Raise

Doodles is a 10,000-token Ethereum NFT profile picture project, with each token sporting unique artwork inspired by a different set of random personality qualities. In this example, an NFT would be a blockchain token representing ownership of a certain character. According to CryptoSlam, $528 million in secondary sales have been generated since the collection’s introduction last autumn.

Earlier today, Doodles revealed that the venture capital firm Seven Seven Six, founded by Reddit co-founder Alexis Ohanian, has led a $54 million investment round for the company. The total valuation due to the round is $704 million, including contributions from FTX Ventures, Acrew Capital, and 10T Holdings.

The Doodles website, which displays the work of Scott “Burnt Toast” Martin, stated in June that it will be releasing a larger-scale Doodles 2 collection, which would spam millions of configurable avatars. It is anticipated that it will be mined on a blockchain network that offers cheaper and quicker transactions than Ethereum’s mainnet, albeit the identity of this network has not yet been disclosed.

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