Doodles launches its native token DOOD on Solana

The NFT project Doodles has launched its token DOOD on Solana.

Exchanges that will support the token include Bybit, Binance Alpha, Gate, KuCoin, and MEXC, with more platforms to come, according to a release shared with The Block. The token airdrop claim is now available on the Doodles website.

Launching alongside DOOD is DreamNet, a decentralized protocol for AI-powered storytelling. Users can create characters and story worlds within DreamNet and earn fees in DOOD if their creations are used in other games or animations on the protocol. Doodles has also launched an office-based survival game called "Lord of the Files" in which users must compete against each other for a pot of 500,000 DOOD.

"DOOD will be embedded into everything we do, from DreamNet and product integrations to gaming and creative participation," Doodles CEO Scott Martin told The Block in an email. "One of the first token powered experiences is Lord of the Files, a social game that lives entirely on X. We’re excited about that!"

Initially announced in February, DOOD has a total supply of 10 billion. The Doodles community will get 30%, an ecosystem fund nabs 25%, the team keeps 17%, and "New Blood" gets 13%, with the remaining 10% for liquidity and 5% for the company, The Block previously reported. Though initially launched on Solana, Doodles intends to launch DOOD on Base.

"We’ve always believed in creating a space where people can escape and connect at the same time," Martin said in a statement. "Launching $DOOD on Solana is a huge step toward making that future real. It’s about giving more people a real stake in the worlds we’re creating, and using tech to bring art, ownership, and imagination closer together."

Doodles is a collection of 10,000 cartoon image collectibles launched in October 2021. The floor price of a Doodles NFT sits at 3.37 ETH (about $8,000), with the project bringing in $4 million in trading volume since May 9, The Block's Data Dashboard shows.