Controversial Pudgy Penguins Founder ColeThereum Returns With New NFT

Cole Villemain, known online as ColeThereum, is re entering the NFT market. He recently previewed a new project on the Robinhood Chain to his followers. This move has drawn significant attention, as Villemain previously co founded Pudgy Penguins before leaving the project amid accusations of treasury misuse. He has denied any wrongdoing regarding those claims.

The new collection is themed around fantasy video games, though specific details remain limited. Villemain acknowledged that no contract or website is live yet. His return has divided the crypto community, with some users welcoming him back while others point to his past ventures. Critics frequently cite his earlier projects, such as the My Fucking Pickle collection, which saw its value drop significantly shortly after launch.

The choice of the Robinhood Chain also raises eyebrows. While the blockchain was originally marketed for tokenized stocks and US Treasuries, it has recently become known for a high volume of memecoins and various security issues. Traders should watch how this launch unfolds, given the history of the founder and the current state of the network he has chosen.

This project serves as a reminder of the volatility in the NFT space, where past reputations often follow developers. Investors are advised to exercise caution and conduct their own research before interacting with new collections from historically controversial figures.