In the podcast How to Build a $500M NFT Brand, Doodles co-founder and CEO Scott BurntToast discussed where both the brand and the broader NFT industry are heading.
He said NFTs aren’t dead – the hype-driven model of 2021 has simply run its course. What matters now are communities, collectibility, and meaningful brand identity. Creators must evolve in public while competing with the world’s biggest intellectual property holders.
The industry, he noted, is still young and largely undefined. Both creators and users are learning through experience. Public visibility adds pressure – mistakes are immediately visible – but it also brings access to resources and real-time feedback.
On Competition
BurntToast said crypto projects often underestimate how fierce the IP world can be. Traditional players have deeper pockets, more experience, and time on their side. He recalled advice from a Hollywood producer who once told him, “Don’t invent, repeat,” but warned that such a strategy is too risky for Web3.
Doodles took the opposite approach. The team acquired an animation studio and began experimenting with NFTs and new auction mechanics – a deliberate choice to innovate rather than imitate.
Building an Organization in Web3 and Beyond
BurntToast said he doesn’t believe in traditional corporate hierarchies. In a fast-moving environment like Web3, small and agile teams outperform large, layered structures. Audiences can sense when something feels inauthentic, and they turn away from brands that rely on old corporate formulas.
Thanks to early success in illustration and the open nature of Web3, the Doodles team brought together the right mix of people and ideas to shape the project.
He also recalled a conversation with designer Pharrell Williams, who admired Doodles’ visual language and said it helped him grasp the project’s scale.
Recently, Doodles has expanded beyond Web3. One highlight was a collaboration with McDonald’s in Canada, where Doodles appeared on cups alongside Dr. Seuss and later Pokémon. For BurntToast, seeing Doodles “in the wild” – from takeaway coffee cups to travel moments – proves the brand’s growing recognition.
Looking Ahead
The company’s goal, he said, is “ubiquity” – to make Doodles instantly recognizable, even to people unfamiliar with its origins. The team is developing AI-driven image tools, a text-to-video editor, and new AR experiences that bring its characters into the physical world.
BurntToast believes the long-term value of NFTs will depend more on provenance and cultural relevance than short-term prices. Major brands, he noted, take decades to build ç and the same will be true for leading NFT collections.
“The world changes every week,” he said. “But I’m confident NFTs will remain relevant. Our mission is to expand Doodles’ presence, be first to embrace new media, and build a brand that speaks to people through a simple visual language.”
Read also:
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