Following the announcement of the Doodles 2 launch, the NFT collection’s floor price has increased by 11% in the last 24 hours.
Doodles, a major NFT collection, announced the release of Doodles 2 during the NFT.NYC conference. Doodles have recently appointed famed music producer Pharrell Williams as Chief Branding Officer.
The NFT collection’s sales volume increased about 400% and its floor price increased 11 percent in the last 24 hours.
Meanwhile, the BAYC and CryptoPunks NFT collections received little attention at the NFT.NYC conference. Both saw their trade volumes fall by 34% and 57%, respectively.
Along with the announcements of Doodles 2 and Pharrell Williams, Doodles revealed a music album titled “Doodles Records: Volume 1,” which would be released in collaboration with Columbia Records. Pharrell will serve as the album’s executive producer.
They also revealed that the first round of funding was led by Reddit co-founder Alex Ohanian’s venture capital firm Seven Seven Six. Doodles will also create a game based on their artwork.
These announcements may have contributed to Doodles being one of the few NFT brands to witness a significant boost in price and sales volume.
The NFT.NYC conference failed to generate interest in NFTs. The award for ‘Best NFT Business Model’ went to the Bored Ape Yacht Club. Despite this, BAYC’s sales volume fell by nearly 34% and its price fell by 7%.
CryptoPunks experienced an even greater reduction, with their sales volume plummeting by 57%. Art Blocks Curated, Udder Chaos, Primates, and CryptoPunks V1(Wrapped) all suffered significant losses.
However, some prominent NFT industry players appear indifferent to the faltering NFT sector. Color Capital co-founder Chris Cantino disclosed on Twitter that attendees at the NFT.NYC conference was more interested in discussing the future than the fluctuating prices.
With big NFT brands faltering amid the recent NFT selloff, it is unclear how the market will recover from this dip. After peaking in 2021, NFT sales have been declining for the majority of the year.
