The Doodles' DOOD token launch. Let's call it what it is: a spectacular faceplant. A 97% increase in sales, but a car company loses their market cap from $100M to $60M? Obvious, right? Well, that’s not merely a misstep—it’s a pratfall. And what's the lesson? Community Web3 is hungry for authentic community outside of airdrop-hype-zoos.

Are Airdrops Truly Equitable?

Let’s face it, the majority of airdrops are one-off pump and dumps that are poorly disguised as something more favorable. Doodles airdropped 68% of a cap of 10 billion DOOD tokens to their so-called “community.” Sounds generous, right? Who really benefited? The few early adopters are already reaping the rewards. Unlike these whales, they are flipping their tokens for short-term profits due to their capital advantage. Empowering the average person with tools and freedom found in Web3 is what they deserve and want. Instead, they’re left with scraps and a front-row seat to a rug pull.

Think about it: the value of Doodles NFTs tanked, dropping from 3.5 ETH to under 1.5 ETH. So, not only were the token holders burned, but the core community was burned as well. What sort of connected and vibrant community can we create on that base? A fractured one. A resentful one. A dying one.

This isn’t a Doodles issue, it’s a pervasive Web3 issue. We're so obsessed with financial incentives that we've forgotten what community actually means: shared values, genuine engagement, and a sense of belonging. Airdrops are the real-world government equivalent of throwing cash at a problem and hoping it disappears. It doesn't. This system disproportionately rewards those who already possess capital, thereby making the rich even richer. In the meantime, the rest of us are stuck with the mess.

What does this remind you of? Oh I don’t know, perhaps the whole tradfi system that Web3 was meant to replace?

Web3's Social Justice Problem Exposed

This DOOD debacle serves as a perfect illustration of a core contradiction inside Web3. We have long pushed for greater decentralization and democratization. What we end up doing is recreating all the same inequalities that exist in the world around us. The rich get richer, the poor get poorer, and the faux humanitarian rhetoric of “community” is exposed for what it is — a convenient cover for greed.

Even if the Doodle team’s hearts were in the right place, the execution of that intention was a complete disaster. Launching on Solana only served to further fan those flames. This ecosystem is very different than Ethereum, where a majority of their holders live today. It created friction, confusion, and ultimately, resentment. It reeks of ignorance toward their own community.

We need to ask ourselves some tough questions: Are we truly building a more equitable future with Web3, or are we just creating new ways for the wealthy to accumulate more wealth? Are airdrops an effective tool for community building or simply a marketing ploy that enriches insiders?

  • Traditional VC model: Invest early, reap massive returns.
  • Web3 Airdrop Model: Acquire early, dump for quick profit.

I’m not claiming airdrops are the devil incarnate, but they should be done with a shit ton more thoughtfulness and intentionality. It’s time we change our mindset from the “get rich quick” philosophy. Rather, we need to focus on building more inclusive, equitable, sustainable communities that provide people with more transportation options. We can't solely rely on financial incentives.

Here's where things get controversial. Personally, I think Web3 could use even more economic intervention than what I’ve described, not less. Hear me out. What we need are mechanisms to stop whales from gaming the system, progressive token distribution models and community governed treasuries. This is not an attempt to curb innovation, but rather to ensure a fair competitive environment.

I can hear the howls of some of you already, shouting “socialism!” Consider the alternative: a Web3 ecosystem dominated by whales and rug pulls, where the promise of decentralization remains an empty promise. That is a future worth fearing.

Economic Intervention: Is It Time?

The Doodles’ DOOD token flop should serve as a wake up call. It should serve as a reminder that Web3 isn’t a cure-all for our social and economic inequality. It’s a powerful tool, and like any powerful tool, it can be used for good or for ill. It all depends on us.

It’s time to start asking better of Web3 projects. And we need to demand that they be held to account for their decentralized, community-friendly promises. We need to be willing to push back against the conventional wisdom. So join us, and fight for a more equitable and sustainable future!

  • Quadratic Funding: Distribute funds based on the number of contributors, not the size of their contributions.
  • Community-Owned DAOs: Give real power to community members to govern the direction of the project.
  • Universal Basic Income (UBI) for Web3: Explore ways to provide a basic income to community members to incentivize participation and reduce reliance on speculative tokenomics.

Doodles has the brand recognition, the good will and partnerships (McDonald’s, Pharrell, Adidas) and the Binance listing to make a comeback. Recovery goes beyond just the token price. It’s central to restoring trust. It’s less about the airdrop and much more about building community. It’s important to make it clear you’re not in it for the next airdrop. The choice is theirs. And ours.

The Doodles' DOOD token failure is a wake-up call. It's a reminder that Web3 is not a magic bullet for social and economic inequality. It's a tool, and like any tool, it can be used for good or for ill. It all depends on us.

We need to demand more from Web3 projects. We need to hold them accountable for their promises of decentralization and community. And we need to be willing to challenge the status quo and advocate for a more equitable and sustainable future.

Doodles has the brand recognition, the partnerships (McDonald's, Pharrell, Adidas), and the Binance listing to potentially recover. But recovery isn't just about the token price; it's about rebuilding trust. It's about demonstrating a genuine commitment to community, not just chasing the next airdrop. The choice is theirs. And ours.