Web3 media brand Doodles has agreed to acquire award-winning animation studio Golden Wolf, according to a Deadline report.

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The financial terms of the deal were not revealed, but it is expected to close in the next few weeks. Once complete, Golden Wolf’s team will join Doodles. The animation studio’s CEO and founder, Ingi Erlingsson, will take on a new role as Doodles’ Chief Content Officer.

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“I’m thrilled by the idea of joining Burnt Toast and the rest of the Doodles team on this journey,” said Erlingsson. “This partnership will unlock boundless potential within each of our businesses, accelerating our goal of redefining entertainment through engaging storytelling and worlds.”

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The acquisition will also see Doodles launch a new joint venture called “Active Ingredient.” Through Golden Wolf's pre-existing partnership with creative studio Psyop, it will aim to "reinvent storytelling and the tools used to make them a reality" via blockchain and AI technology, according to the report.

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The joint venture will create tools and techniques for brands, filmmakers, and producers. As part of the deal, Psyop is investing in Doodles.

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