Doodles' NFT Sales Surge 97% Ahead of DOOD Token Generation Event and Airdrop

Doodles' non-fungible token (NFTs) sales surged by 97% in the last 24 hours as digital collectible traders anticipate the project's token generation event and airdrop.

Non-fungible token (NFT) trader interest in Doodles surged on May 8, pushing the collection’s sales to $1.1 million in the last 24 hours.

The spike placed Doodles in the third spot for daily NFT sales, according to data from CryptoSlam.

The collection’s sales nearly doubled from the previous day and follows the announcement of the project’s token generation event and airdrop.

According to Doodles, the token generation event will take place on May 9.

The project announced its memecoin launch on Feb. 13, saying it would mint 10 billion DOOD tokens on Solana. The project also said that it would bridge to the Base blockchain in the future.

Of the tokens, 68% will go to community members: 30% to the Doodles community, 13% to the New Blood community and 25% as its ecosystem fund.

Team members will receive 17% of the tokens, while the company gets 5% of the token supply. These are subject to a one-year cliff unlock period and a three-year vesting period. The remaining 10% of the token supply is to be allocated to the project’s liquidity.

Holders of Doodles NFTs are eligible to pre-register and receive an airdrop allocation of the tokens. Exchanges like Binance and Bybit announced that they would list the token on their trading platforms after the tokens are minted on May 9.

As Doodles and other top collections saw a surge in activity, total NFT market volume reached more than $103 million over the past seven days, a 7% increase from the previous week, according to CryptoSlam.

The majority of the sales were generated by Ethereum-based NFTs, which had $26.5 million in sales over the last seven days.

Polygon NFTs took the second spot with $19.1 million in sales, driven by real-world asset NFT platform Courtyard, which had over $17 million in sales alone, making it the top NFT collection for the week.

Meanwhile, Mythos Chain and Bitcoin-based NFTs also performed well for the week, having $16 million and $12 million in sales, respectively.