NFT media company Doodles announced it will be moving its platform “The Stoodio” to Ethereum L2 blockchain Base. The transition will take place in mid-July, with the move empowering Doodles to “thrive in a fragmented attention economy.”
The company stated that two main factors influenced its decision to put The Stoodio on Base: the blockchain’s ease of on-boarding and its cheaper, more cost-effective transactions. Doodles had previously launched The Stoodio on the Flow blockchain in April 2023.
The Stoodio is the “proprietary fandom hub” of Doodles, allowing fans to create and customize their personal Doodles character. It also houses a large collection of digital wearables, serves as a cornerstone for Doodles’ online community, and permits fans to unlock “award-winning” content through participation. It is part of “Doodles 2.”
According to the announcement on X, the future of The Stoodio will include quests and games, loyalty programs, rewards, tokenized access to media, and customizable tools for user-generated content. The company will build all of this on Base.
Julian Holguin, CEO of Doodles, said that broader adoption and user engagement for The Stoodio were two underlying motives for the move. He had no criticism of Flow or Dapper Labs, its creator, adding that the company has built things the “space as a whole should be proud of.” In the end, it just came down to the Doodles community being in places other than that ecosystem.
To celebrate the move, Doodles has launched an open edition, free to mint NFT on Base. The floor price of the original Doodles NFT collection spiked briefly to 1.35 ETH the day of the announcement. It has now settled to 1.3 ETH ($4,600).
Doodles started as a non-fungible token collection, once hitting a high of 17 ETH in April 2022. But, like many NFT collections, it took a hit during the bear market, with its floor price falling greatly. In between, there was a fundraise of $54 million, a bevy of new CEO-suite executives, and a controversy surrounding one of the founders.
U.S. Senator Chris Murphy (D-Conn.) is calling for legislation to ban prediction markets that allow traders to bet…
The U.S. Internal Revenue Service (IRS) has proposed a new rule that would allow cryptocy brokers to deliver…
Global fintech powerhouse Revolut has filed an application for a U.S. banking license, a move that would allow…
A man accused of stealing tens of millions of dollars in cryptocy from U.S. government…
Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — has taken a strategic…
A new study from the Bitcoin Policy Institute (BPI) found that leading artificial intelligence models overwhelmingly favor Bitcoin…