At long last, the picture around the highly anticipated Doodles 2 NFT collection is becoming clearer. The Doodles team teased some more details about their expansion collection at NFT NYC. Not only that, but Doodles just held a successful auction for its Genesis Box NFTs that will play a major role in the Doodles 2 ecosystem.
But what even is the Doodles 2 collection? How big is it and when can you pick one up? Read on for all the answers.
All about the upcoming Doodles 2 NFT collection
Recent news of Doodle’s new NFT collection came directly from the team at Doodles’ NFT NYC event. Notably, the web3 brand’s announcement of Pharrell Williams as its new Chief Brand Officer was widely celebrated in the NFT space. By the same token was the announcement of a major investment from Alexis Ohanian’s VC firm, Seven Seven Six.
Just as exciting of course, was the update on the Doodles 2 collection. To explain, the original Doodles collection is limited to only 10,000 NFTs. In contrast, Doodles 2 is the brand’s effort to bring Doodles to a mass audience. In fact, the team has suggested that there could be millions of these new NFTs.
All in all, the goal of the Doodles 2 collection is to be customizable and accessible. Basically, people can buy a basic Doodles NFT, choose some basic traits, and further customize their NFT with different wearable and accessories. What’s more, these wearables will have varying rarities, adding some more excitement to this mix.
What blockchain will Doodles 2 be on?
Significantly, in service of their goal of accessibility and to facilitate gasless customizing, the Doodles team has confirmed that Doodles 2 will not be on Ethereum. While the team is yet to decide what chain Doodles 2 will live on, it has confirmed that it is considering both Layer 1 blockchains, and Ethereum Layer 2 scaling solutions.
Another key point that many on NFT Twitter have pointed to is the major Dapper Labs connection to Doodles. Two of the Doodles founders, Evan Keast and Jordan Castro, previously worked at Dapper Labs. The company, which created both the CryptoKitties and NBA Top Shot, has its own blockchain called Flow. Thus, many are predicting that Doodles will be on Flow.
Even so, we won’t know for sure until the team announces its decision. And of course, regardless of the Doodles 2 chain, the team has affirmed its commitment to continue to build for its community on Ethereum.
What are the Genesis Box NFTs
To sum up simply, Genesis Boxes are the initial set of accessories that will be used to customize Doodles 2 NFTs. As the Doodles website states, “Each one-time-use Box contains a rare assortment of apparel and accessories.”
There are a total of 24,000 Genesis Boxes. The first 4,000 Genesis Boxes went to Doodles holders and their guests in person at NFT.NYC. Through a partnership with Shopify, buyers could reserve a box for $123 using a credit card. Not to mention the funky “minting machines” that added to the in-person buying reservation experience.
The Bucket Auction for Genesis Boxes
The other 20,000 Genesis Box NFTs went on sale in what Doodles called a “bucket auction”. Nate Alex (@NateAlexNFT on Twitter) explained in a thread the reasoning behind the move.
The Bucket auction allowed people to submit bids between 7 PM EST June 29, and 7 PM EST June 30. The idea being that the large window would prevent gas from being too high at any one time because of people bidding all at once. Then, as Alex explained,
“At the end of the window, there is a threshold price which must be cleared in order for your bid to be accepted. If your bid is 2x the threshold, you will receive 2 NFTs. If it’s 1.25x the threshold, you’d be able to refund yourself the excess above the threshold”.
In addition, anyone whose bid fell under the threshold price received a refund of their bid. Aside from saving a ton of gas fees, the Bucket Auction also allowed the market demand to effectively set the mint price of the Genesis Boxes. Evidently, the tactic worked as planned, as Nate Alex later tweeted that his winning bid cost him just $2 in gas fees!
In the end, the Doodles website reports that there were ultimately 4,446 winning bids for the 20,000 Genesis Boxes. Conversely, 2,172 bids didn’t win an NFT but will be refunded. The threshold price for the NFTs ended up being 0.508 ETH. Interestingly, the infamous NFT collector Pranksy landed as the top bidder, paying 290.01 ETH for a total of 570 boxes.
How do the Dooplicator NFTs play into Doodles 2?
To sum up the Dooplicators, these were a secondary collection of NFTs that Doodles released back in May. Doodles holders could claim the Dooplicators for free (+gas) for each of their Doodles NFTs. At the time of their launch, there were precious few details about the Dooplicators. However, we finally got some more information about them at NFT.NYC.
The utility of the Dooplicators is that they produce wearables for the Doodles 2 ecosystem. Not only can they “dooplicate” accessories from the Genesis Box NFTs, but they can also reproduce traits from the original Doodles collection.
Clearly, given how the customization factors into the Doodles 2 experience, the Dooplicators value comes from their importance to the long-term functioning of the new collection.
When can you buy a Doodles 2 NFT?
Although there is no firm date yet, the Doodles 2 NFTs will be launching sometime this year. Until then, stay tuned to learn all about the exciting developments with this expanding NFT brand.
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This article is educational material.
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