Spritehood NFTs on Robinhood Chain Raise $1.28M in Under an Hour

2 hour ago 2 sources neutral

Key takeaways:

  • Spritehood's instant sellout shows NFT FOMO ignores founder credibility, favoring speculation.
  • Unverified contracts on Robinhood Chain expose investors to rug pull risks in new launches.
  • Retail NFT hype on consumer L2s could boost ETH demand as mints accumulate value.

Spritehood, an NFT collection launched by former Pudgy Penguins co-founder Cole Villemain, sold 42,956 paid tokens on the Robinhood Chain in roughly 53 minutes, generating nearly $1.28 million. On-chain analyst 0xlaplaced calculated that the mint produced approximately $1.2829 million, equivalent to about 684.28 ETH at the prevailing Ether price. The sale far surpassed an earlier $755,000 estimate. Buyers minted 37,430 NFTs at $17 each ($636,310) and another 5,526 at $117 each ($646,542), while 1,488 tokens were distributed for free via 20 zero-price transactions, bringing the total collection size to 44,444 items.

The contract’s source code remains unverified on Robinhood Chain’s Blockscout explorer, limiting public review of its mechanics. Robinhood did not organize or endorse the launch, as the network functions as a permissionless Ethereum Layer 2. The sale drew attention to Villemain’s controversial past: he was voted out of Pudgy Penguins in January 2022 amid unproven allegations of fund misuse. Spritehood’s rapid sellout highlights the continuing appeal of community-driven NFT projects on consumer-focused blockchains, though it also raises questions about due diligence given the unverified contract and founder history.

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