- Doodles announced that they are acquiring animation studio Golden Wolf further to establish itself in the world of original content.
- The acquisition will also result in the launch of a new joint venture called Active Ingredient, which will aim to use blockchain and AI technology.
- Golden Wolf is known for producing ancillary content for the Adult Swim animated series Rick & Morty.
Web3 media and entertainment firm Doodles is set to acquire the animation studio Golden Wolf. A move that pushes Doodles into the realm of original content creation. The deal’s financial terms were not revealed, but it is set to close in the next few weeks.
Doodles began as a series of digital collectibles based on characters created by artist Burnt Toast, also known as Scott Martin, in October 2021. The company has grown into an animation, gaming, merchandise, music, and live events franchise. With the acquisition of Golden Wolf, Doodles aims further to establish itself in the world of original content.
Once the acquisition is complete, Golden Wolf’s team will join Doodles. Golden Wolf’s CEO and Founder, Ingi Erlingsson, will become Doodles’ Chief Content Officer. Erlingsson will continue to oversee and operate Golden Wolf’s offices in London and New York.
Active Ingredient: A joint venture using AI and blockchain technology
In addition to the acquisition, Doodles will also leverage Golden Wolf’s strategic partnership with creative studio Psyop to launch a joint venture called Active Ingredient. This venture will aim to “reinvent storytelling and the tools used to make them a reality.”
They plan to use AI and blockchain technology advancements to create tools and techniques for brands, filmmakers, and producers. Psyop will invest in Doodles as part of the deal, which counts Pharrell Williams on its board.
Julian Holguin, CEO of Doodles, said, “Web3 is powering a new generation of collecting, fandom, and consumer mindset.” He added that this investment is a move that advances Doodles’ strategic priorities of creating world-class content, leveraging technology to incubate new formats, and, ultimately, spreading joy to millions around the world.
Doodles’ goal of being a significant player in web3 entertainment
The studio is pushing into longer-form original content development. An early project will see Burnt Toast and Golden Wolf collaborate on “original narrative content” and the Doodle’s characters and story development. This could encompass original series, video games, and product marketing assets. Some of these initiatives will lead with Web3, and some will not.
Golden Wolf is known for producing ancillary content for the Adult Swim animated series Rick & Morty. The company bills its style as “living in the space between irreverent humor, intensely dynamic action, and psychedelia.” The studio has also made content for Disney, Illumination, Nike, and Facebook, among others.
Golden Wolf will continue service work for other brands and companies, while Doodles will continue to release its highly successful NFT collections. The acquisition and joint venture clearly indicate the growing consolidation in the web3 market as companies seek to expand their offerings and stay competitive in this rapidly evolving space.
Doodles have been making waves in the web3 market since having raised $54 million in September 2021 at a valuation of $704 million. The funding round was led by Reddit co-founder Alexis Ohanian’s venture capital firm 776, with participation from several others.
