EXCLUSIVE: Web3 media and entertainment firm Doodles is set to acquire transatlantic animation studio Golden Wolf. 

Doodles began as a series of digital collectibles based on characters created by artist Burnt Toast in October 2021 and has built into a franchise of animation, gaming, merchandize, music and live events. It is now pushing harder into original content with the Golden Wolf acquisition. 

The deal, financial terms of which were not revealed, is set to close in the next few weeks. Once complete, Golden Wolf’s team will join Doodles. Golden Wolf’s CEO and Founder Ingi Erlingsson will become Doodles’ Chief Content Officer but will continue to oversee and operate Golden Wolf’s offices in London and New York. 

Furthermore, Doodles will leverage Golden Wolf’s strategic partnership with creative studio Psyop to launch a joint venture, Active Ingredient. This will aim to “reinvent storytelling and the tools used to make them a reality” using advancements in AI and blockchain technology to create tools and techniques for brands, filmmakers and producers.

As part of the deal, Psyop will invest in Doodles, which counts Pharrell Williams on its board.

Golden Wolf is known for producing ancillary content for Adult Swim animated series Rick & Morty and bills its style as “living in the space between irreverent humor, intensely dynamic action and psychedelia.” It has also made content for Disney, Illumination, Nike and Facebook among others and is pushing into longer-form original content development.

An early project will see Burnt Toast and Golden Wolf collaborate on “original narrative content” and development of the Doodles characters and story. This could encompass original series, video games and product marketing assets.

“This partnership will unlock boundless potential within each of our businesses, accelerating our goal of redefining entertainment through engaging storytelling and worlds,” said Erlingsson.

“Web3 is powering a new generation of collecting, fandom, and consumer mindset,” said Julian Holguin, CEO of Doodles. “This investment is a move that advances our strategic priorities of creating world class content, leveraging technology to incubate new formats and ultimately, spreading joy to millions around the world.”

Holguin told Deadline that Doodles was “in discussions with several traditional media companies and creatives/producers to make a show.”

He added: “Golden Wolf will produce always on content that is distributed through social channels for Doodles and we are already in the process of developing longer-form content, and we will incubate new IP – some in partnership with well-established Hollywood creatives. Some of these initiatives will lead with Web3 and some will not.”

Golden Wolf will also continue with service work for other brands and companies.