Veteran NFT projects are collectively migrating to the Robinhood Chain to restart their ventures. After the former co-founder of the Fat Penguin NFT collection raked in millions of dollars, the NFT project The Saudis has announced it will release a new NFT collection.

Yesterday, Cole Villemain, the co-founder ousted via a January 2022 vote by the "Fat Penguins" community, launched the Spritehood NFT collection on the Robinhood Chain. The collection, with a total supply of 44,444 units, sold out entirely in under an hour, generating $1.28 million in revenue for Cole, per statistics. The event sparked widespread discussion in the NFT space. Crypto artist Beeple posted a meme today claiming "Robinhood Chain saved NFTs," a tweet that drew a positive response from Robinhood co-founder Vlad Tenev: "Someone’s gotta do it." As a result, hype around NFTs on the Robinhood Chain has resurfaced. Tonight, the once-popular NFT collection The Saudis announced plans to launch new NFTs on the Robinhood Chain, a move that earned community approval. The collection’s floor price surged quickly from 0.028 ETH to 0.15 ETH, but due to its long period of inactivity, the NFT’s trading volume remains low, making the floor price spike unsustainable. Adding Stonkbroker—a project with Bored Ape Yacht Club (BAYC) community ties, whose core team and NFT holders overlap heavily with BAYC members—several star projects from the Ethereum mainnet ecosystem have successfully relaunched on the Robinhood Chain. However, the sustainability of this latest NFT boom may hinge on builders’ ongoing innovation and sincerity.