Doodles Defy the Market with $54 Million Funding Round

In the midst of the biggest upheaval the Ethereum network has ever seen, the multicoloured side of the industry has continued to innovate. As a result, mind bending psychedelic NFT collection, Doodles, has raised a whopping $54 million in funding, taking its overall company valuation up to an eye-popping $704 million.

Doodles raised the bulk of the funds through forward thinking venture capital firm, Seven Seven Six, with additional support provided by the likes of 10T Holdings, Acrew Capital and FTX Ventures. All the while, demonstrating the sheer investment potential that pervades the NFT industry.

We’re thrilled to announce that Doodles has raised $54M at a $704M valuation.https://t.co/XCTphrxpR9@sevensevensix @10TFund @AcrewCapital @FTX_Official

— doodles (@doodles) September 13, 2022

Going forward, the mighty Doodles will use the funds to expand its operations in all directions, achieving this by exploring potential opportunities in the music, culture and entertainment sectors. Additionally, it will employ an extra 19 members of staff to push the dream forwards. Therefore, those with love for all things pastel can keep eyes on the Doodles website for its forthcoming ‘job opportunities’ section.

Following the announcement, sales activity within the Doodles collection soared by 700%, with the floor price following suit and currently residing at a healthy 7.15 ETH. All in all, marking a key tipping point in the development of Doodles, one of the top collections in the NFT space.

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

The post Doodles Defy the Market with $54 Million Funding Round appeared first on NFT Plazas.

Related Posts

John McAfee is the Creator of Bitcoin: TikTok Influencer Makes Wild Claim. Or is it?

John McAfee is the creator of Bitcoin. This is the remarkable claim of a TikTok influencer who calls himself Harry the Soul Coach. He says, “John McAfee…

Covalent CEO: There’s an ‘unresolved backlog’ of unfilled Web3 data roles

The demand for on-chain analysts is set to further increase with Web3 data outgrowing Web2 data over the next 20-30 years, says Covalent’s Ganesh Swami. Ganesh Swami,…

The Dangerous Implications Of Central Bank Digital Currencies

There are a variety of reasons consumers should be wary of developments surrounding central bank digital currencies. Natalie Smolenski is a senior advisor at the Bitcoin Policy…

The SEC is bullying Kim Kardashian, and it could chill the influencer economy

The feds should have tried to work with Kardashian to establish more transparent norms for influencers rather than slapping her with a $1.26 million fine for promoting…

How Satoshi Nakamoto And Bitcoin Mirror The United States’ Founding Principles

The governance and origins of Bitcoin closely resemble those presented in the founding documents of the United States. This is an opinion editorial by Buck O Perley,…

Moët Hennessy USA files NFT & Metaverse Trademark Applications

One of the top leading beverage companies — Moët Hennessy, submitted not one but five NFT and metaverse trademark applications for the names “Moet,” “Moet & Chandon,”…

Generated by Feedzy