Key takeaways:
- In the upcoming weeks, the agreement is anticipated to be finalized.
- Doodles and the design firm Psyop will start a cooperative venture.
Doodles, the Web3 entertainment business behind the self-titled NFT project, said on Twitter that it was about to buy the animation studio, Golden Wolf. Golden Wolf collaborated with Disney and worked on the well-known animated science fiction sitcom Rick & Morty. Golden Wolf also tweeted about it:
The financial details of the agreement are kept under wraps, although it is anticipated to close soon. The Golden Wolf crew will join Doodles once the deal is finished. Ingi Erlingsson, the CEO and founder of the animation studio Golden Wolf, will move into a new position as Doodles’ Chief Content Officer while continuing to manage and run Golden Wolf’s studios in London and New York. Erlingsson stated:
“This partnership will unlock boundless potential within each of our businesses, accelerating our goal of redefining entertainment through engaging storytelling and worlds,”
This information follows the recent hiring of three additional employees by Doodles to create items for NFT holders. The American rapper Pharrell Williams was hired by Doodles as Chief Brand Officer in June last year. In September, a $54 million financing effort coordinated by Alexis Ohanian’s Seven Seven Six was successfully concluded.
A joint venture called Active Ingredient will also be established after the acquisition, as Doodles uses Golden Wolf’s strategic alliance with the design firm Psyop. The new company will employ AI and blockchain technology to create tools and strategies for marketers, filmmakers, and producers to reinvent stories and the tools used to make them a reality.
Psyop will invest in Doodles as part of the agreement as the Web3 brand pushes for original content. Burnt Toast, aka Scott Martin, started Doodles as a collection of NFT artwork in October 2021. Since then, it has evolved into an entertainment business that creates live events, merchandising, music, and animation.
Burnt Toast and Golden Wolf are working together on one of the first projects following the acquisition. Creating the Doodles characters and plot will be a joint effort between the two parties. An original cartoon series, video games, and marketing materials could all be included in the content. Doodles’ CEO, Julian Holguin, said:
“Web3 is powering a new generation of collecting, fandom, and consumer mindset. This investment is a move that advances our strategic priorities of creating world class content, leveraging technology to incubate new formats and ultimately, spreading joy to millions around the world.”
Doodles is just one of several companies looking to expand their brand connections through an acquisition.
