The Doodles team threw a rockin’ community party to celebrate and honor the Doodles community. They imagined it as a big leap into a new, tokenized future. Instead, for most, it was the equivalent of getting a warm flat soda after standing in line for 10 hours. The initial market cap plummet, the 60% drop in the NFT floor price – these aren't just numbers. They represent real disappointment, real money lost, and a potential fracturing of the very community Doodles aimed to reward.

Airdrop Sparked Wealth Inequality?

Let's be honest, the NFT space, like the broader crypto world, isn't exactly known for its equitable distribution of wealth. In principle, airdrops provide an opportunity to democratize ownership, to distribute the success of a project’s future success more equally. Did the DOOD airdrop really achieve that? Or did it simply reinforce existing power structures, rewarding those who already held significant amounts of Doodles NFTs while leaving smaller holders feeling like they got crumbs from the table?

I had a chance to chat with “CryptoKaren69” (name changed for anonymity), a veteran Doodles lover who owns only one Doodle. As she communicated to me, ‘I was super excited for the airdrop. I’d been hoping this would be my opportunity to start sinking my claws into the Doodles ecosystem more hardcore. Then watching the price tank and now I’m left feeling just… disappointed. To the non-whale, it seems like they’re more interested in protecting the whales than the small fry.

That sentiment, that feeling of being left behind, is toxic. It creates resentment, breaks down goodwill, and in the end, is bad for the long-term welfare of the Doodles community.

Diluting the Core Brand Value?

Here's an unexpected connection. Remember Beanie Babies? In the 90s, they were the collectible. Scarcity drove the hype, the perceived value. Then Ty Inc. flooded the market. Suddenly, everyone had a Beanie Baby. The magic was gone. The value plummeted.

Is Doodles risking a similar fate? And in so doing, by releasing a token, are they diluting the value proposition that underlies the NFTs in the first place? The NFTs were the original Doodles. They represented ownership, membership, access. Now, there is a third class of “DOOD holders.” Are we really just building a two-tiered system where the NFTs aren’t as special, aren’t as valuable?

Consider this: the surge in NFT sales before the airdrop. Users were obviously attempting to game the system, in order to earn more Doodles only to earn more DOOD. That’s not organic community growth, that’s speculation pumped up by the hope of a bag of free cash. When the free money didn’t deliver on the hype, speculators flocked massively to dump their NFTs. This desperation to dump their holdings was the reason that their floor price crashed.

Solana Bridge A Calculated Move?

Doodles’ announcement that they’d be launching on Solana, and then eventually bridging over to Base is… curious. It's a calculated gamble, no doubt. Solana’s faster transactions and lower fees are key draws, particularly for a more utility-oriented token. Yet, it marks an exodus from the Ethereum ecosystem—a move where Doodles first developed its community and recognition. Is this the right move?

The comparison to Pudgy Penguins is unavoidable. They launched PENGU on Solana, experienced similar price crash as above, but overall, the token did much better in terms of price action. Pudgy Penguins aren’t Doodles – and vice versa. Just like urban communities versus suburban communities, they have different constituencies, different identities, different marketing opportunities, and different long-term objectives.

I can feel this anxiety just under the surface. Now imagine if that bridge to Base just took a long time to get built. Here’s the issue if the token utility isn’t grabbing. But what if this same community still feels excluded?

The unintended consequences could be significant. A divided community, a stretched out brand, a breached token launch. These are not just theoretical threats; they are very real chances that Doodles has to avoid at all costs.

Doodles should engage with the community it has, rather than only catering to the loudest voices. Doodles should actively listen to its community. They will have to come up with ways in which the DOOD token can actually be worth something, more than just a speculative ruble. They need to remember that their greatest asset isn't their technology or their tokenomics; it's their community.

The future success of the DOOD token may very well depend on whether Doodles can earn back that trust and excitement. They need to prove that they are truly dedicated to rewarding their most loyal backers. The clock is ticking.

Ultimately, the success or failure of the DOOD token will depend on whether Doodles can rebuild trust, reignite excitement, and prove that they're truly committed to rewarding their loyal supporters. The clock is ticking.