On May 9, Doodles’ flagship NFT collection took a $4.2 million plunge. This decline came after the DOOD token airdrop, part of the community’s ongoing effort to expand and adapt. Doodles NFTs recently experienced a crash in their floor price by almost 60%. Now, each NFT is fetching well under 1.5 ETH (ETH). As of May 9, the whole Doodles NFT collection sits at an estimated market value of about $31 million.
Prior to the DOOD token airdrop, Doodles most recently enjoyed one of their biggest NFT sales spikes. Doodles had a phenomenal $2.6 million in total sales volume this past week. This incredible glass-breaking milestone is more than a 350% increase from the previous week’s figures.
Doodles first revealed its token plans back in February, detailing its plans to mint 10 billion DOOD tokens on Solana (SOL). The company’s long-term vision includes bridging DOOD tokens to Base, an Ethereum layer-2 network. With this move, Doodles becomes the latest Ethereum-native NFT brand to simultaneously launch a token on the Solana network.
The airdrop was, unsurprisingly, greeted with skepticism. DOOD’s market capitalization plummeted from more than $100 million right after launch to about $60 million. Some observers found the airdrop disappointing.
"definitely underwhelming" - lokithebird, a crypto commentator on X
Before the airdrop, that Doodles NFT was worth around 3.5 ETH on May 8. The fall to under 1.5 ETH marks a significant loss in value for owners of the digital trophies.

Rohan Prasad
Crypto Feature Editor
Rohan Prasad delivers engaging, community-driven stories on crypto events, blending firsthand experience with expert commentary. Known for connecting with people across the ecosystem, he makes complex DeFi happenings accessible and fun. Outside of work, Rohan enjoys indie music and trekking in the Western Ghats.
Related

Cristiano Ronaldo and Binance Launch "Forever to the Moon" NFT Collection
Crypto exchange Binance and soccer star Cristiano Ronaldo have released “Forever to the Moon,” the sixth edition of their ongoing digital collectible partnership. This collaboration aims to bring the soccer superstar closer to his millions of fans and supporters via cutting-edge Web3 technology. Continuing the momentum of five prior successful...

ToiletDust Set to Launch NFT Collection and Brand in July
ToiletDust will launch its disruptive new NFT collection and brand at DIFC, Dubai, UAE. The minting will occur this July. This Web3-focused rollout represents an important and promising first step into the space from a major company. The purpose behind the collaborative launch is to combine the digital realm of...

Binance and Cristiano Ronaldo Launch "Forever to the Moon" NFT Collection
Binance and Cristiano Ronaldo, soccer’s biggest star, announced that “Forever to the Moon,” a Cristiano Ronaldo-inspired collection of digital collectibles, is now available. This collaboration is the sixth release in their long-standing collaboration. Collectively, they’re combining Web3 tech with the sports industry to turbocharge fan engagement. The special collection hopes...