NFT collection Doodles has raised $54 million in funding, reaching a valuation of $704 million.
The company said the proceeds will be used to further develop its intellectual property.
Doodles Raised $54M in Funding
NFT Collection Doodles has raised $54 million in a funding round led by Seven Six, with participation from 10T Holdings, Acrew Capital and FTX Ventures, to a valuation of $704 million.
Funds raised will be used to scale investment, growth strategy and monetize intellectual property globally.
A collection of 10,000 NFTs, Doodles was co-founded by digital artist Burnt Toast and web3 top names Evan Keast and Jordan Castro. NFTs printed on the Ethereum blockchain offer a very colorful world.
Doodles presented a caring experience for its users at the South by Southwest festival in Texas last March. Users had the opportunity to have fun in Doodles-themed venues and to visit the NFT exhibition.
Katelin Holloway, co-founder of Seven Seven Six, said of the funding round:
“We believe Doodles is advancing the next digital frontier in the way we create and experience content by uncovering the true value behind NFTs. Doodles is changing the way we interact by reimagining storytelling through blockchain.”
Famous names such as Snoop Dogg, Justin Bieber, Future, Fat Joe, Gary Vee, Kygo, Diplo, Steve Aoki and Pranksy are among the Doodles collectors.
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