This past Friday, Red Bull announced the launch of a unique non-fungible token collection that has influence from Doodles, one of the top NFT projects of the past two years. The set features 61 pieces of art from students all around the world who created a riff on a Burnt Toast work and received mentorship from the Doodles artist himself.
The company is marking the launch of the collection with an open edition work hosted on Nifty Gateway. Currently, there are 1,108 owners of 12,935 editions, and the collection has a floor price of just $9. Collectors who minted 61 editions during the primary sale are set to receive all 61 NFTs from the students in the final collection.
According to the website for the Red Bull Doodle Art project, the winner of the competition is Chiara Croce of Italy, who created a piece featuring the traditional Doodles character sitting on a bench, surrounded by animals, plants, and miniature humans. Burnt Toast will update her artwork to include pastel coloring, which will mark it as the winning piece of the contest.
Croce remarked that she feels she is on top of the world after winning the competition. From here, she wants to become a famous comic artist.
The competition was spread out across countries around the world, with winners emerging from over 60 countries. Red Bull then invited the country winners to Amsterdam, where they underwent a phygital experience that included keynote talks, speaking with the contest judges, and a workshop on minting NFTs.
The result of the workshop was the open edition that Red Bull launched days ago.
Doodles Builds During Bear Market
While the floor price of a Doodles non-fungible token has fallen considerably in the bear market, that hasn’t stopped the company from building. After raising $54 million at a $704 million valuation nine months ago, Doodles has been active, hiring for key positions and acquiring companies. Here are three stories involving Doodles in the past four months.
First, a month ago, Doodles and music legend Pharrell partnered for an NFT apparel launch. The tool, which launched in Doodles’ Stoodio app, allows Doodles fans to change the clothes of their avatars, as well as other character attributes. There was even a “Pharrell” pack which featured clothing from brands the musician has partnered with.
Next, four months ago, Doodles announced it was launching “Doodles 2” on the Flow blockchain. Doodles 2 allows users to buy and trade apparel which their NFT characters can wear, allowing users to create a more styled identity for live events, gaming platforms, and metaverses.
Lastly, also four months ago, Doodles acquired Golden Wolf Studios, an award-winning animation studio that has partnered with Disney and worked on many shows, including “Rick and Morty.” The move showed that Doodles is looking beyond NFTs to become a global media company.
Even though the bear market has taken a toll on Doodles, it has continued to build, showing staying power during a difficult time. Rarity Sniper has reached out to Red Bull and Burnt Toast for comment on this story and will update it if they respond.