The comments from Doodles co-founder Jordan Castro are sparking controversy among collectors.
Doodles co-founder Jordan Castro’s recent comments are raising a few eyebrows. Doodles is one of the most successful NFT projects of all time. According to Coin Market Cap, the project is ranked 9th in the most traded NFT collections the last 30 days.
Yet, Castro is now distancing the project from NFTs.
Castro said: “We’re trying to go from a startup to a leading media franchise. We are no longer an ‘NFT project’. The more time/money/resources we invest in following the latest ‘build in public’ trends that fuel speculation, the less we have to achieve our long-term vision.”
He continued: “We are not going to spend any resources appeasing those with financial motivations. We never have and never will. If we are going to focus energy on any [group] of people, it will absolutely be our most loyal collectors.”
Castro followed up with more comments on his official Twitter channel. Moreover, he reinforced once again that Doodles isn’t an NFT project.
He said: “This is true. but what’s also true is I’ve dedicated my career to the blockchain. I’ll never abandon the pursuit of delivering the promises of this tech to the world. Doodles started as an NFT project, but we are growing into a company with the goal of becoming a leading media franchise. And we want you along every step of the way.”
It appears that the Doodles co-founder is trying to steer the Doodles ship away from NFTs. Indeed, Castro insists that the project needs to evolve beyond “vicious speculative cycles.”
However, the response to Castro’s original comments and follow up Tweet has been mixed. For some collectors, the move away from NFTs is a positive one. On the other hand, Castro’s words are also attracting criticism. One collector wrote: “Everyone has financial motivations. Nobody would be on twitter talking about this stuff if they didn’t have financial motivations. We would all be out in the real world. It’s disingenuous to talk like this.”
The reaction to Castro’s comments reflects a community simmering with uncertainty. Currently, the Doodles NFT collection floor price is plummeting downwards. In the last 30 days, the floor price has dropped from almost 6 ETH to 3.5 ETH at the time of writing.
The drop in value may be causing the underlying tension in the community. Furthermore, one of the most successful NFT projects of all time is moving away from NFTs. Consequently, the community is processing that pivot with mixed emotions.
Conversely, one more positive NFT collector said: “I agree with him. What’s the surprise? Let’s move forward building doodle’s brand. Lots of work in front of us. The rest is just noise. I would focus on that.”