The Return of the Mastermind

Guess who decided to waddle back into the crypto scene? None other than Cole Villemain, aka “ColeThereum,” the co-founder of the infamous Pudgy Penguins. After stepping away due to some serious treasury drama, he’s back in the NFT game and selling like hotcakes—well, sort of.

Previewing New Ventures

This past Sunday, Cole teased his new NFT collection on the Robinhood Chain, racking up a whopping half a million views. That’s a lot of eyeballs, folks! But, it’s divided: some folks are dancing for joy, while others are throwing shade and recalling the less-than-stellar projects he’s had before.

A History of Controversy

Remember that time Cole got accused of misusing funds in the Pudgy Penguins treasury? Ah, memories! And it wasn’t just that. Back in August 2021, blockchain detective ZachXBT had this juicy exposé about one of Cole’s earlier ventures: a dropshipping site called eBoy Outlet. Imagine customers eagerly waiting for their goods only to be ghosted. Yep, those reviews were not pretty.

Cash Grab or Clever Comeback?

Cole denied any wrongdoing, claiming he did the honorable thing and refunded unhappy customers. But that’s not where his escapades ended! He also dabbled in a collection called My F**king Pickle, which crashed faster than you can say “cash grab.” Talk about a rollercoaster! From a high above $540 to crashing down to $13—yikes!

Robinhood Chain: A Double-Edged Sword

Now, what about his new collection? It’s purportedly inspired by fantasy video games, although the specifics are as elusive as a rare Pokémon. No minting yet, and he warns potential buyers: “No contract or site is live yet.” Classic Cole, right? He’s trying his luck on Robinhood’s new blockchain instead of Ethereum, which has become a bit of a notorious hotspot for memecoins and dodgy operations. You know, minor issues like phishing attacks and wallet drainers!

Playing the Nostalgia Card

So what’s Cole’s strategy? Pulling the old nostalgia card! He’s on a mission to convince everyone that he’s got this “old-school” marketing trick up his sleeve, claiming he can dish out the top NFT on Robinhood Chain. Some folks aren’t buying it, with one developer snarking, “The space never changes.” Ouch!

Facing Skepticism

People are not shy about expressing their doubts. “Same guy who did meme NFT cash grabs is trying again? You gotta be joking!” one user ranted. Another chimed in that this isn’t the first rodeo where Cole’s done a disappearing act, only to pop back up with a new project. Classic Cole moves, am I right?

What Lies Ahead?

The NFT landscape is a tricky one. Trading volumes took a nosedive in 2022, with many NFTs crashing and burning—some by as much as 98%. After accusations started flying about the Pudgy Penguins’ founders draining funds, Cole decided to take a break for his “mental health.” Fast forward to April 2022, and Pudgy Penguins got sold for a cool $2.5 million to a new crew led by entrepreneur Luca Netz, who’s busy turning those penguins into actual toys. You can find them waddling down aisles in Walmart and Target now!

The Final Laugh?

So, will ColeVillemain’s return be a classic comeback or another flop? Only time will tell! Stay tuned, folks, this penguin saga is far from over!