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The minimum price for the Doodles NFT collection has increased significantly following hints of a token launch. The potential token launch follows past collaborations with McDonald's, Adidas, and Crocs and expands Doodles beyond the crypto space.
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Doodles founder Burnt Toast hinted at the possibility of an NFT collection token launch in a post about X.
Take ownership, keep evolving new ideas, build community, open hearts, and encourage new growth. pic.twitter.com/iEBabGfwh3
— Burnt Toast (@burnttoast) December 19, 2024
Founder Scott Martin, also known as Burnt Toast, posted a cryptic message on Platform X earlier today.
“Take ownership, keep evolving new ideas, build community, open minds, and encourage new growth.”
Community members quickly noticed that the first letter of each phrase spelled out “tokens coming,” fueling speculation about the project's token launch.
According to CoinGecko data, this buzz was reflected in market activity, with the minimum price for the collection increasing from 4.3 ETH to 6.5 ETH.
This surge cemented Doodles' position as the sixth-largest NFT collection by market capitalization (valued at $220 million).
Talk of a possible token launch comes on the heels of Doodles' recent partnership with McDonald's, which launched just a month ago.
The partnership, titled “GM Spread Joy,” will feature Doodles' artwork on more than 100 million limited-edition McCafé Holiday Cups available at McDonald's stores nationwide.
In addition to its collaboration with McDonald's, Doodles has also partnered with major brands such as Adidas and Crocs to release exclusive apparel, toys, and online digital experiences.
The move by Doodles reflects a broader trend of NFT collections launching native tokens to expand their ecosystems.
For example, Pudgy Penguins recently launched their token PENGU, which initially soared but fell by more than 50% shortly after the airdrop.
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