Will veteran blue-chip Doodles follow the Pudgy Penguins roadmap and become the next Pudgy Penguins?
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Will veteran blue-chip Doodles follow the Pudgy Penguins roadmap and become the next Pudgy Penguins?
Doodles is gaining market favor by replicating Pudgy Penguins' development path.
Navigating Web3 tides with focused insightsBy Nancy, PANews
Recently, Yuga Labs, the developer behind BAYC, faced strong community backlash following its high-profile acquisition of Proof, the team behind Moonbirds. At the same time, Pudgy Penguins’ floor price surpassed that of BAYC for the first time—marking a pivotal shift in the NFT market landscape and sparking broader discussions and reflections on NFT project narratives.
Similarly, another blue-chip NFT project, Doodles, is gaining market favor by closely mirroring Pudgy Penguins’ development trajectory. According to OpenSea data, as of February 18, Doodles’ total trading volume has exceeded 305,000 ETH, with a current floor price of 3.26 ETH. Over the past 30 days alone, Doodles’ floor price has risen nearly 48.2%, while its trading volume surged approximately 333% to 7,426 ETH.
Doodles' trading volume and price performance over the past 30 days. Source: OpenSea
Behind this significant rebound in price and trading volume, Doodles’ narrative path closely resembles that of Pudgy Penguins. First, in terms of brand influence, IP-derived merchandise has been a key growth driver for Pudgy Penguins—and Doodles follows a similar strategy. In August last year, Doodles collaborated with footwear brand Crocs to launch a limited-edition line of clogs, which sold out within 72 hours of pre-orders opening. Owners received a unique digital Crocs Box collectible; burning this digital asset unlocks two physical Crocs wearable items and a Stoodio Beta Pass usable in Doodles 2.
Additionally, Doodles has expanded its user base through deeper collaborations with mainstream brands, including partnering with experiential retailer Camp to open an immersive experience and play zone near Lincoln Park in Chicago, and teaming up with Casio’s G-SHOCK to release new products in the future. However, compared to Pudgy Penguins, Doodles still has relatively fewer brand partnership resources.
In building brand value, Doodles—like Pudgy Penguins—has consistently enriched its product offerings. These include the Doodles AR app currently in testing, Doodles 2, which allows users to create wearables of varying rarity levels to customize their avatars, and The Stoodio, which has completed beta testing and serves as Doodles’ platform for creating custom content, set to become a multichain hub for its immersive, blockchain-powered storytelling universe. Moreover, Doodles has hired former Twitter events and marketing lead Bianca Posterli and Meebits founder Kaigani to drive brand transformation, and acquired Golden Wolf—an Emmy-nominated animation studio—to help pioneer new content formats, including unrestricted storytelling and R&D in AI-generated animation.
“Doodles will evolve from an NFT project into a leading media franchise. The more we invest in public building driven by speculation, the less likely we are to achieve our long-term vision. We won’t allocate any resources to appease those with purely economic motives—we will focus our energy on our loyal holders,” said Jordan Castro, founder of Doodles.
As a community-centric NFT project, Doodles places strong emphasis on being community-driven—a principle reflected across multiple initiatives. This includes revamping DoodleBank, its treasury program, by removing the previous $100,000 cap on commercial licensing, focusing instead on community empowerment, holder rewards, streamlined funding, and improved governance. It also involves opening applications for five key Community Council roles exclusively to NFT holders. Additionally, its Launchpad program, “Inkubator,” supports OG Doodles holders with resources for community events, marketing collaborations, business experiments, and customized projects—the first round having already funded six initiatives.
Overall, the remarkable turnaround of NFT projects like Doodles and Pudgy Penguins underscores how hybrid virtual-physical business models, continuous product innovation, and strong community engagement are becoming essential strategies for building lasting commercial value.
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