Pudgy Penguins co-founder ColeThereum sells out 44,444 NFTs on Robinhood Chain

Cole Villemain, the Pudgy Penguins co-founder who holders voted out in 2022 over accusations that the team drained the project’s treasury, has sold out a 44,444-piece NFT collection on Robinhood Chain.

On-chain observer @0xmani reports that the collection was sold for more than 684 ETH (roughly $1.28 million).

Is Cole Villemain running an NFT scam?

Cole Villemain, who posts as ColeThereum on X, announced that he has sold out his 44,444-piece NFT collection called Spritehood Wisps with a two-line message reading: “Sold out. I’m back in the NFT game.”

Some traders, like @CryptoGorilla, pointed out that the mint was promoted as a “free mint” but ended up being a “stealth launch” that cost money to join. Others, like user HanIsRich, called the project a “cashgrab,” arguing that the promised future development wouldn’t cost nearly 20% of the money raised.

Gorilla stopped short of calling it a scam, noting that the floor had climbed 2.6 times off its minimum and that rare pieces were changing hands as high as 0.88 ETH.

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