Thread by @philrosenn

1/ I talking with @doodles CEO about the NFT's $500M in sales, a recession and Web3. @jholguin explained how @Pharrell and Reddit's cofounder, @alexisohanian, can help transform Doodles into a media giant.
New for @BusinessInsider from @NFT_NYC...
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2/ In an exclusive interview with Insider, the CEO of @doodles (@jholguin) broke down why its NFTs could hold value through a recession and his vision for the brand.

(@MktsInsider, @NFT_NYC)

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3/ Doodles has cleared over $500,000 in sales volume, hired Pharrell Williams as an exec, and received funding from a VC firm led by Reddit's co-founder, @alexisohanian.

#NFTNYC
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4/ Fans waiting up to 3 hours in line Wednesday to attend @doodles in person event near @NFT_NYC, and @jholguin told me the purpose of Doodles is to "elicit joy."

#NFTNYC

(@MktsInsider, @BusinessInsider)

5/ But it isn't just cute JPEGs @jholguin aspires for — his vision is to transform the company into a Web3 multimedia entertainment brand. This week @doodles tapped @Pharrell as their chief brand officer. #NFTNYC

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6/ @doodles also announced it had also raised its first funding round led by the venture capital firm Seven Seven Six, a firm helmed by the co-founder of Reddit, @alexisohanian.

7/ In the 24 hours leading up to Thursday, which coincided with their event in New York, Doodles' online sales volume surged over 1,000% to surpass $3.2 million, according to @cryptoslamio data.

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8/ Despite the breakthrough year NFTs had in 2021, weekly sales have declined by more than 80% from a January peak of almost $1 billion. But @jholguin sees @doodles as uniquely prepared to weather a potential recession.
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9/ "The economy presents a macro challenge right now for everyone," @jholguin said. "But we're really diversifying our business so we're not completely tethered to the price of crypto."
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10/ The @doodles CEO remains optimistic: "Doodles is here to let everyone channel their inner child, and understand that everything's possible with the power of your imagination. We're as bullish as ever." (@MktsInsider)

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