Former Pudgy Penguins co-founder Cole Villemain launched a new NFT project, Spritehood, on Robinhood Chain, and all 44,444 NFTs sold out in less than an hour. On-chain data later showed the sale brought in about $1.28 million, above the $755,000 figure that had circulated in the community. Even so, the project contract had still not been verified at the time of reporting, adding to the debate around the launch.
On-chain breakdown puts revenue near $1.28 million
According to on-chain analysis published by 0xlaplaced, Spritehood’s actual proceeds came in higher than the number discussed during the sale window. The analyst said the mint lasted about 53 minutes and 48 seconds in total. The data showed 37,430 items sold at $17 each, while another 5,526 were sold at $117 apiece.
Using that breakdown, the sale generated roughly $1.28 million. That is materially higher than the $755,000 figure that had been circulating across the community beforehand.
WISP contract remains unverified on Blockscout
The Spritehood Wisp contract, under the ticker WISP, was still marked as unverified on the Blockscout blockchain explorer. Without verification, outside users cannot confirm the contract’s internal logic or how funds are distributed.
Promotion on X was followed by renewed scrutiny
Before the mint, Villemain spent weeks promoting the project on X. On July 11, he previewed what he described as an NFT project on Robinhood Chain aimed at taking the top ranking. Weeks later, he ran a giveaway campaign and described it as an early-NFT-style marketing tactic, asking users to like, repost and follow the official Spritehood account to take part in the mint.
After the project went live, community attention quickly turned back to Villemain’s past controversies. In January 2022, the Pudgy Penguins community voted on Discord to remove the founding team, including Villemain, after raising questions about how team funds had been used.
Those allegations never moved into judicial proceedings. Pudgy Penguins later went on to post notable commercial success under a new operating team. Separately, blockchain investigator ZachXBT had already published a long post in 2021 that raised strong doubts about Villemain’s past behavior.
Community questions what buyers ultimately received
X user HanIsRich argued that the new launch was simply a cash grab. The user added that if similar tactics continue, liquidity on the chain could be drained by a small number of participants, and questioned what, if anything, the 44,444 NFT buyers who paid $17 or $117 would ultimately receive.