Cole Villemain’s Spritehood NFTs Raise $1.28 Million on Robinhood Chain

The sale, which concluded on August 11, saw investors snap up 37,430 NFTs at $17 each and another 5,526 at $117. An additional 1,488 tokens were distributed for free, bringing the total collection to 44,444 items. On-chain analysis by user 0xlaplaced confirmed the total proceeds reached approximately $1.283 million, significantly outpacing initial estimates of $755,000.

Transparency concerns persist as the Spritehood contract remains unverified on the Blockscout explorer. While an unverified status does not confirm malicious intent, it prevents public inspection of the underlying source code, leaving the specific mechanics of the pricing tiers and project roadmap unclear. The launch occurred on Robinhood’s permissionless Layer 2 network, which has increasingly become a hub for speculative assets despite the brokerage’s focus on tokenized stocks. Villemain’s return to the NFT space follows his 2022 ouster from Pudgy Penguins amid allegations of fund mismanagement, which he was never prosecuted for. As the project operates on a permissionless chain, it carries no official endorsement from Robinhood, leaving U.S. buyers to navigate the potential tax and regulatory implications independently.