Remember NFTs? New Project Prices Surpass Bored Apes

NFTs on Robinhood are gaining increasing attention, primarily catalyzed by an interaction between Robinhood CEO Vlad Tenev and Beeple on Twitter.

NFTs have been in decline for a long time, and Beeple is one of the few who can still create a positive effect on NFT assets, giving off a vibe of "whatever Beeple draws, it goes up." In the tweet above, Vlad appears as a savior of NFTs, holding a Cash Cat and captioning it, "Robinhood is saving NFTs." Vlad replied, "Someone has to do it."

As the "second main character" in the image, the floor price of the Cash Cat NFT series has surged to about $660, increasing fivefold in just two days.

Before Vlad's tweet acted as a direct catalyst, StonkBroker, the leading NFT on the Robinhood chain, saw its floor price briefly exceed 13 ETH (about $25,000) and is currently holding at 11.75 ETH. In terms of the price of a single NFT, this series has already surpassed BAYC, with its total market cap once exceeding $100 million, surpassing other blue-chip NFTs like Pudgy Penguins and Milady.

Are NFTs really being revived on the Robinhood chain? How can one quickly get into this long-forgotten track?

The combination of meme coins with an NFT series is the first type of Robinhood NFT project worth mentioning in this article. Besides Cash Cat, there is also a corresponding NFT series launched by $HOODRAT, which is directly managed by the meme coin project team, eliminating concerns about community acceptance. However, $HOODRAT currently has a market cap of only about $3 million, making it difficult for the NFTs to appreciate significantly.

At the beginning of the article, we mentioned Cash Cat NFT. Although this NFT series does not originate from the official Cash Cat meme coin, it has gained three imaginative logical points shortly after Vlad's tweet:

• Currently, the market cap of $CASHCAT is around $150-160 million. Based on the recent highest floor price of $660, the corresponding market cap for 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, the price of the NFTs will appear increasingly cost-effective.

• What if Vlad changes his X avatar to a Cash Cat NFT?

• Although it is not managed by the $CASHCAT project team, it is not unheard of for a successful meme coin to spawn a successful example that does not come from the original project team, with the most typical being $SPX6900/AEON, where AEON once reached a market cap of about $25 million, corresponding to a single floor price of about $7,500.

After a short-term FOMO, the floor price of Cash Cat NFT has already dropped back to about $375, which is considered a normal correction. It will still be a key NFT series on the Robinhood chain, but its height depends on the performance of $CASHCAT and whether it can gain widespread recognition from the $CASHCAT community.

Therefore, projects of this type should be tracked from two aspects:

• Coins that are performing well and have meme imagery, such as $hmm on Pons, which has recently surged significantly. If it can withstand the current substantial correction, NFTs will also be picked up, though it’s uncertain which series it will be.

• NFTs related to meme coins that have already been led by the meme coin project team or have already emerged in price. Monitor the price trends of the meme coins themselves and observe whether the odds of the corresponding NFTs are appropriate.

StonkBroker Series

Currently, the top three NFT series by floor price are all from the "StonkBroker series."

The market cap of StonkBroker's coin itself is very high, operating on a logic of a token flywheel. For more details, please refer to our recent article analysis from Rhythm BlockBeats.

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