In 2022, @doodles raised $54M - which is wild to think of in hindsight.

About a year ago, we spoke with them during their down round. Valuation was still at $250M. The $DOOD strategy didn’t make sense to us, so we passed.

Fast forward to today: launched at -70% from its down round valuation, so 22 investors probably down -85% or more. Community seems very unhappy too, floor price down -60%.

Another airdrop straight to the trash.

Doodles is a great case study in how NOT to do it.

The market is healing - let the cleanse continue while fundamentally strong projects shine.