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Doodles NFT Sales surged 1200% after the project raised a $54M fund

A day after announcing a $54 million financing effort sponsored by Alexis Ohanian’s venture capital firm Seven Seven Six, Acrew Capital, FTX Ventures, and 10T Holdings, popular Ethereum NFT collection Doodles reported a staggering 1200% rise in sales in just a day. Doodles NFT sales over the past day reached $2.1 million, according to statistics from NFT data aggregator CryptoSlam.

Doodles intend to expand with the latest funding

The fund, according to Doodles, would help it grow its staff from 11 to 30 people. The business will try to fill key roles like the head of finance, head of business affairs, head of marketing, social media manager, and several others. The recently acquired funding will also help in project expansion with its new “Doodles 2” collection.

Remember that Doodles just released its second NFT collection? More significantly, it made a contract to hire Pharell Williams, a renowned musical celebrity, as its Chief Brand officer. Above all, the cash will support the team’s expansion and the development of Doodles’ technological innovation. The NFT project plans to diversify into a variety of areas and incorporate animation, music, gaming, attractions, and many more.

Furthermore, CryptoSlam’s data represents an amalgamation of all activity on all NFT marketplaces. Approximately 144 pieces from the collection have been sold in the past 24 hours. As a result, the floor price of the collection has increased by 19%. The collection’s least expensive item costs roughly 8.23 ETH, or about $13,100.

The 10,000 NFT collection that makes up Doodles is noteworthy. According to its website, Burnt Toast claims to have created the collection’s strong visual features. Since 2021, when Doodles NFT’s initial minting took place, it has witnessed significant growth, offering its collectors new experiences. It finances all of its offerings with a collective treasury called Doodlebank.

Owners of the collection today have access to governance privileges that let them vote on community-oriented issues. It is important to remember that as the project grows, the members of the community may expect more exhilarating encounters and unrestricted access to the newest products.

This story has been published by CoinChapter.com that covers Bitcoin, Ethereum news and other cryptocurrency news. The information contained in this article is for only informational purposes. It does not present any investment advice nor does it serve as a substitute for individual investment.”