Web3’s 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 it secured a $54 million funding round last year led by Reddit co-founder Alexis Ohanian’s Seven Seven Six.

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

The panorama: Doodles rose to fame amid the NFT craze in late 2021, being one of the best-selling collections. As the wave of NFTs crashed, Doodles became a more well-rounded 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: Following the closure, Golden Wolf CEO and founder Ingi Erlingsson will become Doodles’ chief content officer. Golden Wolf will retain its brand and continue to operate from its London and New York offices.

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

Whats Next: The acquisition is expected to close in the coming weeks.