Newsletter #197: Culture First?
Plus, OpenSea launches its OS2 platform in a private beta release.
This week’s featured collector is Limn
Limn is a painter and photographer. Check out their unique collection at lazy.com/limn
Which Factor Will Most Influence Your NFT Purchases in 2025?
In last week’s poll on which factor will most influence NFT purchases in 2025, Artistic Quality and Rarity/Scarcity emerged in a tie, each capturing 38% of the votes. Notably, Utility and Function followed at 25%, while Social Proof attracted no votes. Interestingly, no participants indicated they plan to skip NFT buying altogether in 2025—suggesting continued enthusiasm around digital collectibles.
From a broader perspective, these results underline a clear preference for NFTs that offer tangible or aesthetic value. While hype and social signals have often driven trends, collectors seem more focused on the inherent qualities of each piece—whether that’s its uniqueness or visual appeal. This also points to a maturing marketplace, where utility and creativity outweigh pure speculation, and reinforces the notion that a dedicated base of buyers still believes in the potential of NFTs going into 2025.
OpenSea 2.0 Unveiled in Private Beta—And There Are Points
OpenSea recently introduced its OS2 platform in a private beta release, highlighting a redesigned user interface and an experience points (XP) system. These enhancements are currently available only to select users, with Gemesis NFT holders receiving free priority access. OpenSea drew a blockchain snapshot of nearly 49,785 wallets holding Gemesis NFTs, granting them eligibility for this exclusive beta, while other users have been waitlisted.
The newly implemented XP system is designed to promote higher user engagement. Although OpenSea has not officially confirmed any plans, many speculate these points could lay the groundwork for a future token drop—particularly notable because OpenSea has so far operated without a token. This approach reflects a competitive strategy seen with Blur, the rival marketplace that surpassed OpenSea in monthly trading volumes in mid-2023 and maintains a strong lead. In January 2025 alone, Blur recorded over $317 million in trading volume on Ethereum, significantly outpacing OpenSea’s $152 million. While OpenSea dominated over 90% of NFT marketplace volumes in 2022, its share has now slipped to about 33%.
These shifts in market share come on the heels of OpenSea’s strategic pivot, initiated when it laid off half its workforce in November 2023. With the CEO emphasizing that OS2 is central to OpenSea’s future, users can expect continued feature updates and refinements. Beta participants are already encouraged to list items, make offers on collections, and submit feedback through the official Discord, earning XP while shaping the platform’s development.
Doodles Reorients, Switches CEO
Doodles, known for its vibrant, cartoonish NFT artwork, has undergone a leadership shakeup. Scott Martin—better known by his artist moniker “Burnt Toast”—has stepped in as CEO, succeeding former Billboard executive Julian Holguin. Under Holguin’s guidance, Doodles forged collaborations with major brands such as Adidas and McDonald’s and fostered a partnership with music icon Pharrell Williams, who remains the project’s chief brand officer despite the CEO transition.
In announcing the leadership change, Martin signaled a return to what made Doodles special in the first place: authenticity, transparency, and creativity. The company’s spokesperson described the parting with Holguin as a mutual decision reflecting a broader shift away from a more corporate tone. This marks a pivotal evolution for a project that quickly rose to prominence in late 2021, as Martin’s eye-catching artwork captivated collectors. After debuting around $462 worth of ETH, Doodles’ floor price soared to nearly $57,000 in May 2022. During Holguin’s tenure, the collection expanded with customizable NFT avatars, acquired an animation studio, and introduced more brand integrations.
Scott Martin’s vision appears to distance Doodles from what he called the “extractive corpo era,” refocusing on community-driven values. While details on next steps remain under wraps, Martin hinted at “big things,” including the possibility of a token airdrop—similar to other projects like Pudgy Penguins and Azuki. Currently, the Doodles floor price sits at approximately $13,501, a figure up by 6.62% over the past week.
Where Do You Stand on Doodles’ Shift Away From the “Extractive Corpo Era”?
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