The NFT.NYC hosted a 2-day NFT conference for the NFT community to bring them together for debates, talks, and workshops in NYC starting on June 22. At the ongoing NFT.NYC conference 2022, the major NFT collection Doodle announced the release of Doodles 2. Pharrell Williams, a well-known music producer, was also appointed chief branding officer of Doodles. Following these announcements, Doodle’s sales volume surged by 400% and its floor price by 11% throughout the course of the previous day.
Doodles 2… coming soon. https://t.co/8gw3OeeQfs pic.twitter.com/c33BB0GLqP
— doodles (@doodles) June 22, 2022
The release of “Doodles Records: Volume 1,” a music CD that will be issued in association with Columbia Records, came along with the news of Doodles 2 and Pharrell Williams.
The album’s executive producer is going to be Pharrell. These announcements might have helped Doodles become one of the few NFT brands to see a notable increase in pricing and sales volume. At the NFT.NYC conference, however, there was little interest in the BAYC and CryptoPunks NFT collections.
Both reported a decline in their trade volumes of 34% and 57%, respectively. They also revealed that the first round of funding was led by Seven Seven Six, the venture capital firm founded by Reddit co-founder Alex Ohanian. On the basis of their artwork, Doodles will also create a game.
There was no enthusiasm for NFTs during the NFT.NYC conference. The Bored Ape Yacht Club received recognition for having the “Best NFT Business Model.” Despite this, BAYC had a nearly 34% decline in sales volume and a 7% decline in price. With a 57% decline in sales volume, CryptoPunks experienced an even greater decline. Significant losses were sustained by Udder Chaos, Primates, Art Blocks Curated, and CryptoPunks V1 (Wrapped).
Some well-known figures in the NFT sector, nevertheless, don’t appear to care about the market’s difficulties. On June 22, Chris Cantino, co-founder of Colour Capital, also tweeted that attendees of the NFT.NYC conference were more interested in discussing how to construct the future than they were in discussing the changing prices.
At NFT NYC, the circles I’m in aren’t talking about prices. Aren’t talking about leaving crypto. Aren’t talking about the next fad or flip.
They’re talking about the future, and how they are going to build it.
— cantino.eth (@chriscantino) June 21, 2022
It’s unclear how the market will rebound from this decline as big NFT brands struggle amid the recent NFT selloff. NFT sales have been falling all year long since they peaked in 2021.
Read more:
- Bored Ape Yacht Club Discord hack resulted in 200 ETH NFT thefts
- Bored Ape Yacht Club first to be premiere in June at NFT.NYC
