🧠 Crypto's newest Unicorn valuation at $704m?

September 15, 2022

Seedphrase Daily 👋 Forget Nerf. It’s crypto or nothing.

  • 🤯 Why was Doodles valued at $704m?

  • 🥳 Happy Merge!

  • 🌱 NewSeeds

  • 😹 Meme to get you right.

Why was Doodles valued at $704m?

Doodles sales are booming. Volume is up over 1200% in the past 24 hours, and floor prices skyrocketed 19%.

After a huge announcement of getting $54M in VC funding led by Reddit co-founder Alexis Ohanian, these guys are on a roll of onboarding industry leaders.

But after being MIA for 2 months, why has the floor continued to be stable?

What they've accomplished 👇:

  • Pharrell Williams was announced as Chief Brand Officer.

  • Celebrity holders like Justin Bieber, Gary Vee, Snoop Dogg, Loopify, Steve Aoki, Lil baby, Pranksy and the list goes on.

  • Appointed ex Billboard president Julian Holguin as CEO.

  • Partnership with Columbia Records.

  • 500m+ In secondary volume

  • 54m seed raising.

Massive VC funding and countless hard-working individuals endorsing the project, solidifying them as a blue chip.

Plans with VC funding and why people are holding 🤝:

  • Strategic growth 

  • The development of technological reach.

  • An album co-produced by Pharell that's inspired by the project and distributed by Columbia Records will give it radio exposure. Who will appear on the album is still a mystery, but the long list of celebrity holders can give us a hint.

  • Development of a Doodles game.

  • Exclusive real-life events for holders.

  • They are expanding their team.

Like my ex, this is a rare case of a project having 0 contact with their community for over two months and coming back with news that absolutely blows up volume.

Many cool things are in store for holders, giving them the incentive to keep coming! The idea of a Doodles ft Lil baby prod by Pharrell would keep me holding until the end of eternity.

The importance of knowing where VC money flows 👨‍🏫.

In this economy, getting millions from VC funding can be an encouraging sign of long-term success.

It also allows them to focus less on floor price and more on building long-term utility for its holders, which could take some time.

Huge funding like this gives us an idea of what projects actually have the resources to deliver their promises.

And knowing where it goes allows us to be more intelligent investors.

Where can I track the money 💰?

CrunchBase is a great tool to determine what VC firms are investing in and the seed rounds they participate in.

The website gives an insightful breakdown of how much percent of funds they put in each company so you can become a better investor.

List of recent investments👇 💵:

💵 FTX invested in the funding round for:

  • Skybridge capital is a global investment firm,

  • Mysten labs are building a very promising L1 called SUI that's supposed to be the next big thing and something I'm personally watching!

  • Dust Labs is the company behind the token $DUST that powers the DeGod NFT ecosystem, which is considered the only blue chip of the Solana network.

💵 Acrew Capital invested in:

  • Illuma, a company building autonomous solutions to onboard, manage and support 1M DAO communities.

  • Populix is a platform that finds consumer data for small businesses in developing countries and global markets.

💵 10T Holdings investments:

  • Animoca Brands aims to deliver digital property rights to gamers and internet users. They are also developing an open metaverse.

  • InfStones is a platform to help build decentralized applications to make the barrier of entry easier.

  • Babel Finance is a crypto financial services company offering crypto lending, borrowing, and management services.

Researching where the smart money is moving should give you a good idea of what a promising investment could be. These were just small examples that we found.

Millions of dollars flow into the market daily; we just need to follow it.

Happy merge everyone! Here’s to ETH 2.0 and hopefully a big step towards mass adoption! 🥳

While the merge wont lower gas fees, it will create the infrastructure to take Ethereum to scale.. Meaning they are preparing for a huge onboarding of more consumers and developers.

Ethereum is getting ready for the next bull run, whenever that will be. Rest assured, markets move in cycles.

🌱 NewSeeds

😹 Meme to get you right.

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research

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