NFTs on Robinhood are gaining increasing attention, with the most direct catalyst being an interaction between Robinhood CEO Vlad Tenev and beeple on a tweet.

NFTs have been in decline for a long time, and beeple is one of the very few individuals who can still generate a boosting effect for NFT assets, somewhat having the feeling of "whatever beeple draws, rises". In the above tweet, Vlad appears as an NFT savior figure, holding a Cash Cat, with the caption "Robinhood is saving NFTs". Vlad replies, "Somebody's gotta do it."

As the "secondary protagonist" in the picture, the floor price of the Cash Cat NFT series surged to a high of around $660, a 5x increase in 2 days.

Prior to this direct catalyst of Vlad's tweet, the floor price of StonkBroker, the NFT leader on the Robinhood chain, once exceeded 13 ETH (approximately $25,000) and still remains at 11.75 ETH. In terms of single NFT price, this series has already surpassed BAYC, and its total market cap once surpassed $100 million, exceeding old blue-chip NFTs like Pudgy Penguins and Milady.

Are NFTs really coming back to life on the Robinhood chain? How can one quickly get started with this long-forgotten sector?

Meme Coin/NFT

The model of pairing a meme coin with an NFT series is the first category of Robinhood NFT projects worth noting in this article. Besides CashCat, others like $HOODRAT have also launched accompanying NFT series. Moreover, this one is directly launched by the meme coin project team, so there's no need to worry about community recognition, but $HOODRAT's current market cap is only around $3 million, making it difficult for the corresponding NFT to rise significantly.

At the beginning of the article, we mentioned the Cash Cat NFT. Although this NFT series does not come from the official Cash Cat meme coin team, after Vlad's tweet, it gained three short-term speculative narratives:

- Currently, the market cap of $CASHCAT is around $150-160 million. Based on the highest floor price of around $660 in recent days, the total corresponding market cap of the entire NFT series is only $6.6 million. If the price of $CASHCAT can remain stable, or even break new highs and continue to rise, then the NFT price will appear increasingly cost-effective.

- What if Vlad changes his X profile picture to a Cash Cat NFT?

- Although it's not created by the $CASHCAT project team, there are examples where a successful meme coin spawns a successful NFT project not from the original team. The most typical example is $SPX6900/AEON. AEON once reached a market cap of around $25 million, with a corresponding single floor price of about $7,500.

After the short-term FOMO, the floor price of Cash Cat NFT has retraced to around $375. This is a normal pullback. It will likely remain a key NFT series on the Robinhood chain, but its potential depends heavily on the success of $CASHCAT and whether it can gain widespread recognition within the $CASHCAT community.

Therefore, tracking this type of project should focus on two aspects:

- Coins that are performing well and have meme appeal. Recently, for example, $hmm on Pons surged significantly. If it can withstand the current major correction, the associated NFT might also be picked up, though it's uncertain which series.

- NFT series already spearheaded by meme coin project teams or those that have already gained traction in price for their associated meme coins. Monitor the price action of the meme coin itself and assess the risk/reward ratio of the corresponding NFT.

The StonkBroker Family

Currently, the top 3 NFT series by floor price are all part of the "StonkBroker Family."

The token of StonkBroker itself has a high market cap. It operates on a flywheel logic of token and image synergy. For details, please refer to our recent article analysis by BlockBeats:

"Is StonkBroker Undoubtedly the Robinhood Chain's Second-in-Command?"

Chain Mancers and Yardkeepers are called the "StonkBroker Family" due to three characteristics:

- They all utilize StonkBroker's Anvil NFT AMM. Both NFT series combine image and token.

- They are not merely images. Chain Mancers claims to be building a DEX, and Yardkeepers claim to be building the best cross-chain route for RWA-focused assets. Holding their NFTs purportedly gives holders a role in the protocol, or more directly, a share of the revenue.

- The reason StonkBroker labels them as Special Projects is that some portion of their protocol revenue flows back into the StonkBroker ecosystem.

To put these three points more simply: they all claim to be building actual projects, they all have some level of endorsement/partnership with StonkBroker, and they all play the narrative of combining image with token, where the NFT provides dividends. Based on these points, the current speculation has less to do with whether the project is live or its revenue situation; instead, they are being traded as smaller speculative plays within the StonkBroker ecosystem.

Therefore, opinions on whether the current price offers a good risk/reward ratio will vary. As for whether such opportunities can be discovered early? Yes, pay more attention to StonkBroker's official X account and community discussions. However, such early discovery comes at a cost. Chain Mancers required burning designated tokens and NFTs for a whitelist spot. Yardkeepers conducted its public sale entirely through the Anvil NFT AMM, meaning all tokens were placed in a liquidity pool; to acquire them, you had to buy tokens to exchange for NFTs. This scenario is akin to a public sale, making it difficult to avoid early "snipers" getting in at low cost.

Veterans Starting Anew

Cole Villemain, co-founder of Pudgy Penguins, was voted out and removed by the project's holders in January 2022. Early this Tuesday morning, his 44,444-piece NFT series, Spritehood, launched on the Robinhood chain sold out in less than an hour. According to on-chain transaction statistics, the revenue from this NFT mint was approximately $1.28 million.

The Saudis, an older Saudi-themed project from 2022, once had a glorious period where one sold for over $2,000. Since 2024, its price has mostly been below $200, essentially "dead" for a long time. Upon news of launching a new project on the Robinhood chain, its price surged up to 3x, jumping from around $100 to $440.

Besides the two projects mentioned above, many veterans and old projects are preparing to seek fortune on Robinhood. For example, Pizza Ninja, which was once a first-tier project in the Bitcoin ecosystem, and meme artist @boldleonidas, among others. The previously mentioned Chain Mancers and Yardkeepers are not new developers either; they are considered familiar faces in the space.

My view is: if the mint price is reasonable, leveraging the current interest in NFT assets on the Robinhood chain, veterans bringing new projects can be a viable play. The veterans' own influence and the support from their old project communities provide initial support for the project.

However, often by the time information is widely seen, the price of the old project may have already risen due to people scrambling for whitelist spots, making it difficult to judge if the risk/reward ratio is still favorable. This type of project might also bring back the era of grinding for whitelists in the NFT space.

Conclusion

Finally, it's important to note that for players not very familiar with NFTs, the liquidity of NFTs is incomparable to that of meme coins. A floor price might look cheap, and you might sweep a bunch, but when it comes time to sell, listing at floor price might be difficult to execute, and accepting offers often involves high slippage.

For this reason, it's challenging to invest in NFT assets in the early stages with the same capital as meme coins, such as buying thousands of dollars worth or taking larger positions, especially for NFT series with a total supply of less than 10,000.

Overall, Robinhood NFTs have gained attention recently, but a standout project that captures the market's imagination has yet to emerge. StonkBroker qualifies, but its token attracts even more attention than its NFTs. To conclude whether the Robinhood chain is experiencing an NFT market trend, I believe further observation is needed. At the very least, we need to see more attention-driving events pushing the market or witness a project outside the image-token combination model (pure NFT) reaching greater heights.