Web3 media company Doodles acquires animation studio Golden Wolf

Web3 company Doodles has acquired animation studio Golden Wolf for an undisclosed amount, the company announced Monday.

Why it matters: This is Doodles' first acquisition since getting a $54 million funding round last year led by Reddit co-founder Alexis Ohanian’s Seven Seven Six.

• The company also counts Pharrell Williams as a board member.

The big picture: Doodles rose to prominence amid the NFT craze in late 2021, being one of the top-selling collections. As the NFT wave has crashed, Doodles has moved into becoming a more fully fledged media company.

• The acquisition of Golden Wolf, which has worked with Nike, Facebook, Gatorade, Disney and Adult Swim, will help push Doodles into more original content.

Details: Upon closing, Golden Wolf’s CEO and Founder Ingi Erlingsson will become Doodles’ Chief Content Officer. Golden Wolf will maintain its brand name and continue to operate out of its London and New York offices.

• As part of the deal, Doodles will form a joint venture with Psyop — a 3D animation studio that held a minority stake in Golden Wolf — called Active Ingredient. That partnership will look to create content using AI and blockchain technology.
• As part of that agreement, Psyop will invest in Doodles.

What's next: The acquisition is expected to close within the next few weeks.