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Sales of non-fungible Doodles are on the rise…Details here

Sales of non-fungible Doodles are on the rise…Details here

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Answer Sales of non-fungible Doodles are on the rise…Details here

After announcing a $54 million funding round, sales of non-fungible Doodles tokens rose more than 1,000% in a few hours earlier this week.

The allure of non-fungible Doodles has emerged despite the slowdown in the overall NFT market.

According to the dataDappRadarSales volume was $2.48 million, an increase of 1,028.34% in the mid-week 24 hours.

On the other hand, the base price of the non-fungible token Doodles jumped above 8 ETH before retreating and settling near 7.99 ETH at the time of writing.

Doodles Graphics recently recorded $54 million with a valuation of $704 million.

The funding round was led by Reddit’s venture capital firm Seven Seven Six, as well as other investment firms such as 10T Holdings, Acrew Capital and FTX Ventures.

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With the latest injection of capital, Doodles has revealed plans to ramp up its growth strategy and invest its intellectual property globally, with the help of ventures in the music, culture and entertainment industries.

New capital will also be deployed in product development, acquisitions, proprietary technology, media, and pooling trials.

The company also plans to use its proceeds to build a team of engineers, marketers, business managers and creatives.

Founded in 2021, “Doodles” is basically a collection of 10,000 NFTs that shows the colorful world and cartoon character images of skeletons, cats, aliens, monkeys and amulets minted on the Ethereum blockchain.

In less than a year after the minting of NFT, Doodles managed to create one of the largest collections of profile pictures on the Internet.

According to data from NFTPriceFloor, the collection of 10,000 images is valued at $121 million.

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Doodles also plans to collaborate with Columbia Records to launch the NFT Music Project.

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