The Doodles' DOOD token launch on Solana? If we’re being candid, it was more of a disappointment. Unfortunately, the market cap has crashed from more than $100 million at its all-time high to about $60 million. Yikes, that’s not the victory lap they were hoping for! You see the headlines: "NFT prices always drop after airdrops." That’s a convenient story line, and I’m going to take the rest of this post to explain why. We have to go below the shallow end. Let's talk about why NFT airdrops, once touted as the golden ticket, are increasingly looking like a one-way trip to disappointmentville.

Tokenomics Designed to Fail?

Let's get real about tokenomics. Doodles has said it will mint ten billion DOOD tokens. Ten. Billion. On Solana, then bridge them to Base. Does that not sound like a recipe for scarcity and value increase? Not really. To us, it looks a fairly obvious strategy to destroy the token’s value. This occurs before the token has even had a chance to prove itself. If you’re dumping truckloads of cash on the ground, why should you take any seriously when it’s valuable?

Think about it this way. Picture this. Though the analogy isn’t perfect, consider the following scenario. Tell us what you imagine would happen to the dollar’s purchasing power. Exactly.

This steep market cap decline isn’t just a coincidence. It’s a direct result of this problematic tokenomic model. Contrast this with something like Bitcoin, where scarcity is coded directly into the chain itself. Airdrops should not be there to dump on the market, but more so to reward long-term loyalty with something that is truly of value.

Missing Community Engagement Strategy

Okay, let's address the elephant in the room: community sentiment. Look at what’s on social media and you know the comments. It's not pretty. Just read the forums and discords for an example of how that tsunami crash of disappointment sounds. Tokens – You literally can’t just give them tokens and expect smooth sailing. You need a strategy. You’ve got to create buzz, you’ve got to create FOMO and you need to create the sense of being part of something much larger.

First, recall the overall craziness that went down when Bored Ape Yacht Club was distributing Mutant Apes. While controversial, it generated buzz. It was a story. What's the story with DOOD? What's the utility? What's the long-term vision? Without a strong story to tie in, an airdrop is essentially just free things. And free stuff rarely holds its value.

It’s similar to gifting someone something they never asked for and won’t use. It's awkward for everyone involved. Airdrops should be more than just airdrops, they should be experiences.

Solana Isn't Ethereum, Period.

This might be the most uncomfortable truth: maybe Ethereum-native NFTs don't translate perfectly to Solana. Doodles is nonetheless part of an accelerating trend of Ethereum-based projects jumping ship to Solana. The reality is, though, that moving between worlds isn’t ever quite that smooth.

The floor price of Doodles NFTs on Ethereum dropped by about 60% following the DOOD release. NFT Collections have dropped an average floor price from 3.5 ETH currency to below a 1.5 ETH floor. That speaks volumes. It implies that from a market perspective the Solana integration is perceived as a devaluation, rather than an expansion.

Here's the unexpected connection: it's like a celebrated New York chef opening a hot dog stand in Los Angeles. Yes, they may actually be serving gourmet meals, but are they truly cooking for the right audience? Are they understanding the local market?

Solana and Ethereum have different cultural values, different types of communities supporting them, and different types of expectations. Just because it has been successful on Ethereum doesn’t mean it will just automatically work on Solana. Doodles’ sales volume rocketed ahead of the airdrop, up 97%, as traders competed for qualification. That’s not organic growth; that’s artificial demand blasted by the rocket fuel of speculation.

I'm going to say something that might ruffle feathers: maybe airdrops aren't always the answer. Perhaps, perhaps, perhaps, they indeed can do real damage to a project’s long-term value.

Look at Pudgy Penguins. They ended up airdropping PENGU on Solana. While it did fall at first, it eventually shot up to a market cap high of $2.8 billion! That's the exception, not the rule. Even PENGU’s first dip illustrates the notable risks involved.

It’s time to stop looking at airdrops as a magic bullet and look at them as part of a larger toolbox. Plan your tokenomics meticulously to avoid choosing sides. Focus on community engagement and make platform integration effortless for users.

Otherwise, we’re just asking to curse ourselves with the next DOOD disaster. And nobody wants that. Yet the time of the blind airdrop is behind us. Smart projects, strategic investments. Projects need to start looking beyond the hype to long-term value. If not, your airdrop could turn into a gaping void that swallows your project’s reputation.

Otherwise, we're just setting ourselves up for another DOOD debacle. And nobody wants that. The era of the blind airdrop is over. It's time for projects to get smart, get strategic, and start thinking about long-term value instead of short-term hype. Otherwise, your airdrop might just end up being a black hole for your project's reputation.