16 March 2023 17:46, UTC
Studying time: ~2 m
Castro emphasised that no assets could be allotted to appease these with monetary motives. As a substitute, Doodles will focus its efforts on its most loyal collectors. “We’re attempting to go from a startup to a number one media franchise. We’re not an ‘NFT challenge,’” he said.
Castro’s announcement indicators a shift in focus for the Doodles challenge, because it goals to change into a number one media franchise firm quite than simply an NFT challenge. Whereas the NFT area has skilled a surge in reputation over the previous 12 months, there have been rising considerations about speculative bubbles and short-term revenue motives.
As such, Doodles’ resolution to prioritize its long-term imaginative and prescient and dependable collectors over speculative pursuits is a constructive growth for the NFT trade. It additionally means that extra NFT initiatives might shift their focus in direction of constructing long-term sustainable companies and media franchises quite than simply capitalizing on the newest market developments.
In conclusion, Doodles’ transition from an NFT challenge to a number one media franchise firm highlights the rising significance of constructing sustainable and long-term companies within the NFT trade. Whereas this method might not yield speedy returns, it’s going to doubtless result in extra steady development and a stronger basis for the way forward for the NFT area.
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