Doodles 2 Breakdown

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Here is the breakdown of today's newsletter:

🥳 Doodles 2 announcements🖼️ Deekay amazes as usual🏎️ Porsche NFT rebounds somewhat

• Athleatea AI has been showing off CharacterGPT, an innovative take on AI character generation through text. (Y)

• NFT sales hit 101 Million in 2022, DappRadar reports. (NE)

• New Orleans Firm NieuxCo is token-gating bathrooms during Mardi Gras. (DC)

• Neopets raise 4M$ to develop their metaverse. Investors include Polygon and Blizzard. (@NeopetsMeta)

• Despite struggling in the current market, Candy Digital passes through a promising investing round. (@CD)

Doodles 2 Announced 🎉

After many months of waiting, the day has come that Doodles 2 is confirmed and in full swing. The goal? To completely customize your Doodle based on your digital identity for maximum self-expression.

According to @poopie (Doodles Founder):"On-chain scalability is a requirement for Doodles 2. Everything you see below sis on-chain-the Wearables art, the attributes, the Doodle and its customization. Mainstream users will endlessly customize their doodles and trade wearables without transaction fees."

Drama:

With any significant NFT news release, there is no shortage of drama. Doodles 2 will be launched on Flow for "frictionless" adoption and customization. Of course, certain individuals in the community are upset about this news (mostly ETH maxis). Below is the goat whale's response to this drama. For those that don't know, Pranksy is like the Michael Jordan of NFT investing so his words do hold some weight.

Do you think this is a big move for Doodles?

Art Spotlight 🖼️

Whenever DeeKay posts we post about it, sorry we don't make the rules.

Porsche NFT Coming Back? 🏎️

Today is another day, meaning another big Web2 company thinks they can come in and make some quick money. Or at least that’s what the majority of the NFT community thought about Porsche’s new project. In just 48 hours, their project went from being being perceived as a cash grab dumpster fire, a 0.911 ETH one at that to a rising floor that have speculators eyeing the floor.

💡 A Breakdown

Buying their NFT grants you access to the PIONΞERS CIRCLE, which they claim is a one-of-a-kind communal experience that revolves around Porsche and the experiences associated with the company. Porsche also gives you the ability to have a say in the final design of your, said, NFT. You can pick and choose what you want it to look like. The utility is still yet to be fully announced, but knowing Porsche, the possibilities are endless. Despite this, the NFT world at first rejected this project, saying that there is actually no value.

💡 What Happened:

• Mint supply cut… Of the 7,500 mints available, only 2,005 have been minted, as of writing this article. Porsche announced in a tweet that the mint will indeed stop, regardless of the number of mints that end up being bought. For a company of this size, that’s a massive L. They can’t even sell out their own project, showing their shortcomings in advising and describing the project to the public.

• Web3 participation… “To build a new community. To help design Porsche's future in the virtual world.” That’s what the project’s website states are their purpose for this project. But, why haven’t they participated in Web3 to the point that people see their vision? Why haven’t we seen representatives from the company talk about the project? It seems like they want to sell a project but build after the fact. Why?

💡 The DropCurrently being in somewhat of a bear cycle, people are more cautious with their funds, and they are less likely to buy into speculation. About a year ago, a project like this would’ve minted out in hours. Yet, even a company such as Porsche isn’t able to do that in today’s market. People have become educated on what projects are created for the betterment of Web3, as a whole, and those that are just created to take out a quick injection of funds. Hopefully, Porsche delivers on their value proposition. If not, people are going to be sitting with worthless NFTs that they can get more utility out of at a Cars and Coffee event. WAGMI.

Sponsored Content: There is no sponsored content in this newsletter.

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.

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