Doodles' DOOD token. Airdropped riches, or fool's gold? Let’s face it, the Web3 space is a wild west. We have experienced billion dollar fortunes made and lost quicker than you can say “decentralized.” So, when a popular NFT project like Doodles launches its own token, DOOD, the question isn't just "is this cool?" but "is this actually going to benefit the community, or just line the pockets of a few?"

Airdrops and Web3 Economic Accessibility

Aside from the Doodles Web3 communities NFTs airdrop… Just looking at the very first initial airdrop going to existing Doodles NFT holders, that feels GOOD. It puts on the veneer of shared prosperity, a tacit leveling of the playing field. Let’s not confuse benevolence with true systemic transformation. This is where the “Social Justice Meets Economic Reality” angle starts to really resonate.

Think of it like this: it's like a company donating a small percentage of their profits to charity while still engaging in exploitative labor practices. This donation, while generous, does nothing to address the real problem. In much the same way, DOOD airdrops are a refreshing splash of color in a crypto landscape still ruled by whales and venture capitalists.

Volatility & Wealth Concentration Concerns

Here's where the anxiety creeps in. The DOOD token, as with all new cryptocurrency projects, is extremely volatile. Down 12% on launch day? HQ2 was meant to be a gamechanger and that’s a red flag waving in the breeze. Solana is a hub for meme coins. Great! The problem is that meme coins thrive on hype-driven speculation, not on strong fundamentals. What happens when the hype dies down?

Only those with extremely deep pockets can afford to ride out the storm. Or, they can purchase dips, manipulate the market through their purchase power, and still all make a profit. And what if we consider the average American? They are betting their hard-earned money on DOOD, risking it all for a chance at a brighter financial future. They’re the ones who need protection from being burned the most. It’s the unintended consequences that really worry me and keep me up at night.

We've seen this movie before. Remember PENGU and ANIME? Both debuted to much fanfare, heralding a new era of community-driven economics. Where are they now? Down significantly from their initial highs. Instead, the promise of wealth redistribution would be used to concentrate more wealth into fewer hands.

Think of the GameStop saga. It initially played like a classic David-versus-Goliath story, a grassroots rebellion against Wall Street. But in the end, it was not retail investors but ordinary investors who got burned and hedge funds and skilled day traders who racked up huge returns. Are we fated to make the same mistakes again in Web3?

Transparency and Regulation - Now?

This is where the righteous indignation needs to come in. We need much more transparency and regulation in the Web3 space. Under Doodles’ new CEO, Scott Martin (Burnt Toast), Doodles has set out to be more “risky,” less “extractive corpo.” Risk, without regulation and oversight, can all too easily become exploitation.

We need to hold Doodles and other Web3 projects accountable. What are their plans to protect these vulnerable investors? How are they self-auditing to make sure the DOOD token can’t be used to further concentrate wealth? Do they actually care about economic justice or are they merely virtue signaling?

The introduction of DreamNet, an AI-enabled decentralized storytelling platform, sounds impressive and groundbreaking. Creators earning DOOD rewards sounds great. Who owns the AI? Who controls the platform? Who is using data produced from these stories the most?

The decision to go with Solana, given that Doodles was an Ethereum-based NFT project, is definitely puzzling. Yes, Solana is faster and more accessible. It’s equally tied to the rise of meme coins and a more speculative crypto bro culture. Could this be a deliberate tactical shift to cast a broader net? Alternately, is the project a clever ruse meant to take advantage of the current meme coin mania?

The DOOD token would have been a genius creation. Through these efforts, it seeks to better equip the Doodles community and help build a more equitable digital economy. Or it could just as easily be the next rug pull. This plan would help a small number of wealthy residents while hurting thousands of lower income and minority residents.

We, the national community, have a responsibility to demand more. To ask the tough questions. To hold these projects accountable. And chiefly, because the future of Web3, and that more inclusive digital economy we all want to live in, depends on it. So if we’re just amazed by the promise of the new gold rush, we don’t see the exploitation. It’s time that we lobby for a Web3 that creates equitable opportunities for all, rather than just the chosen few.