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.
On May 8, data from CryptoSlam showed Doodles NFT sales topping $1.1 million, nearly doubling the previous day’s total. The spike placed Doodles in the third spot for daily NFT sales, following DMarket and Courtyard NFTs.
Over the past week, Doodles recorded $2.6 million in total sales volume, up 368% from the week prior and ranking fifth among all NFT collections, according to CryptoSlam.
The surge comes ahead of the launch of Doodles’ long-awaited DOOD token. The project announced on May 7 that the token generation event will take place on May 9.
Doodles to launch DOOD token and airdrop
Doodles 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.
According to the team, 68% of the tokens will be allocated 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. Doodles said 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.
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NFT market hits $103 million in weekly sales
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.
Ethereum-based NFTs still lead the charge with $26.5 million in sales in 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.
Mythos Chain and Bitcoin-based NFTs also performed well for the week, having $16 million and $12 million in sales, respectively.
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