Exciting Times Ahead as Doodles and MoonPay Both Acquire Creative Studios

The year 2023 has kicked off with a lot of exciting news around several partnerships, rollouts, and integrations within the Web3 space from native Web3 and non-Web3 firms. Most of these companies have been busy either expanding the range of their products and services or simply reinventing what they already have within the world of the decentralized internet. For instance, Doodles acquired an animation studio, Porsche issued NFTs, while MoonPay acquired a Web3 agency, Nightshift. 

Doodles Acquire Golden Wolf

An Emmy-nominated, transatlantic animation studio which also designs as a collaborator for the Rick and Morty franchise, was recently acquired by Doodles. Doodles is a Web3 firm that specializes in the creation of NFTs. The company hit $500 million in total sales last year and, together with Yuga Labs, is one of the most successful NFT-centric Web3 companies. Golden Wolf will bring in a lot of animation experience, having worked with Weetabix, Bento Box Entertainment, Tiktok, Supercell, etc.

In a public announcement on Monday, January 23rd, both Doodles and Golden Wolf – the animation studio said that they would be collaborating for a narrative description of ideas, world-building, and character development as Doodles look to tap into new types of content like storytelling without constraints and AI animation generation research and development. Interestingly, this deal will bring Golden Wolf’s business into markets beyond animation, such as fashion and music, where Doodles are currently breaking into. 

Although the acquisition amount remains undisclosed, the deal invokes a feeling of anticipation. The two companies had previously worked together on Doodles’ announcement for Doodles 2 at NFT New York in 2022.

What This Means For Both Companies

Doodles just launched “Doodles 2” on the Flow blockchain, allowing anyone to create uniquely personalized and customizable characters. These characters have the option to be animated, so Doodle acquiring Golden Wolf yet retaining most of its staff will be valuable in building and delivering on these ideas. 

Fans have been wondering why Doodles put up Doodles 2 on the Flow blockchain, given that Doodles have mostly launched their products on the Ethereum blockchain. The head of product and co-founder, Jordan Castro, quickly clarified that. According to him, the choice of the Dapper Labs-backed Flow blockchain is because of its frictionless onboarding and world-class security, safety, and recoverability, which will help them onboard new users. “We’ve productized the community’s desire to customize their Doodles so that it matches their real-life vibe exactly,” he said, “Tech aside, Doodles 2 is the passport that’s used in all of our products – experiences, games, apps, music, animation releases, to bring further personalization, customization, and rewards to our fans.” Nonetheless, core Doodles collections will remain on Ethereum. It is exciting to see what these two teams are already achieving. 

MoonPay Acquires Nightshift

On Thursday, January 19th, crypto infrastructure firm MoonPay announced its first acquisition while scooping up the Web3 creative studio Nightshift. MoonPay is looking to expand the range of its services into the Web3 space with NFTs and animations.

As part of the acquisition, MoonPay will rebrand Nightshift to Otherlife. As Nightshift, the company handled creatives for Web3 native clients such as Adam Bomb Squad, Coinbase, OpenSea, and others. Along with services in Web3, the agency has been offering design, branding, and Web3 product strategy for big clients such as Shopify, Playboy, Arsenal Football Club, etc.

Initially, MoonPay started its journey as a fintech player allowing users to buy crypto products using fiat currencies. Over the last year, MoonPay has been making a move in the NFT space. In June 2022, MoonPay launched Hypermint, allowing brands to mint 100 million digital assets simultaneously. Speaking on the matter, MoonPay CEO Ivan Soto-Wright said;

“With the addition of Otherlife, we can provide companies, brands, and creative agencies with world-class, end-to-end support to unlock new revenue through groundbreaking Web3-based products, experiences, and ideas. I’ve been a great admirer of everything Perrow, Moodie, and the team at Otherlife have created. And I’m excited about what we’ll build together.”

Is This Good for MoonPay?

Of course, it is. It is a big opportunity for the company to integrate newer, fiery services and offer end-to-end lifecycle support for big brands. Their wide array of product offerings can help brands execute a full end-to-end strategy around ideas or entry points into Web3.

With the combined expertise of this new pairing, MoonPay will offer an easy gateway for legacy brands to venture into Web3. Throughout the last year, MoonPay has been rapidly expanding its products to ensure that they provide an easy gateway for brands to expand into Web3.

Along with launching Hypermint, MoonPay partnered with entertainment giant Universal Pictures to unveil their NFT-based scavenger hunt for parkgoers at Universal Studios. Otherlife Creative Director and Co-Founder Michael Moodie said;

“Reflecting our continued focus on innovation and creativity, Otherlife’s brand is a renewal of our commitment to providing cutting-edge creative solutions and our dedication to staying at the forefront of the web3 industry. We will continue to push the boundaries of what’s possible while staying true to our genesis values”.

Going Forward

Although Web3 is an incredible industry that can grow exponentially within the coming years, both mainstream brands and Web3 firms need to go about product development and roll out more effectively. Market entry strategies, research and development, and feedback deserve lots of attention and investment to stay in touch with users’ wants. 

Also, more brands should be willing to collaborate to leverage expertise across firms, which will inevitably lead to better products and creative innovation. In all, mainstream brands should approach Web3 endeavors with authentic interest and neither as cash-grabbing opportunities nor with the FOMO mentality. Customer-focused brands with useful products will always win.

Interested in marketing your blockchain/Web3 project? Please contact Off-Chain Communications for a free consultation and quote.

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