Earlier this week, NFT collection doodles announced that they had acquired Emmy nominated animation studio golden wolf. The two companies had previously worked together on the announcement of doodles two at NFT NYC last year. Golden wolf has worked with companies from Nike to Facebook to Gatorade to Disney to PlayStation and Adidas. As part of the announcement doodles Twitter account tweeted this marks the brand new chapter for doodles as we continue to expand the franchise. Narrative storytelling, worldbuilding, and character development will be at the center of everything we do. Doodles founder Jordan Castro also tweeted about the acquisition. We've always wanted to break out of web three's bubble and reach billions. Golden wolf's world class team has done just that, excited billions with animation. Expect storytelling without constraints and AI animation generation R&D soon. We're buying not selling. As per the deal golden wolf will continue to operate independently though in close collaboration with doodles. The golden wolf founder and CEO Inge erlington has joined doodles as chief content officer focusing on running studio operations while building out the next wave of the doodles brand. Animator Denny bright writes doodles acquiring an animation studio like golden wolf is insane. Like you don't understand how big that is insane. So what exactly does this mean? One of the things that's been clear for some time is that many of these NFT collections saw their trajectory as effectively pre selling character IP that would find its way into other mediums. In some ways, NFTs would look like alternate shared ownership of IP. Basically, they allowed the audience to become a pseudo owner and have more active participation in a creative project. We've seen versions of this with collections like the board apes, who launched their other side metaverse, and now with this acquisition, doodles looks a bit like a media company moving from idea phase to execution phase.