fomo Co-founder Se Yong Park: NFTs Are Back
Se Yong Park, co-founder of the social trading app fomo, stated that "NFTs are back" and mentioned that some people buy watches with profits, while he prefers digital goods. No transaction volume, floor price, or specific series was provided.
fomo was founded by Paul Erlanger, Se Yong Park, and Prashan Dharmasena, who came from the perpetual contract platform dYdX, positioning itself as a trading app for the rest of us: login via Google or Apple, deposit via Apple Pay or bank card, without requiring users to read public keys or on-chain positions. In June 2026, it completed a $75 million Series B round led by Index Ventures and USV, with Benchmark participating. It disclosed approximately 650,000 registered users, with about 30% having placed orders.
Fee tracking shows that the platform's transaction fees in the last 24 hours were about $2.13 million, with transactions around $33 million; fees in the last 30 days were about $19.85 million, with transactions around $1.11 billion. After the launch of the Robinhood Chain mainnet, the co-founders stated that about half of the active wallets on that chain came from fomo. The product integrates discovery, following, opinions, and trading into a single information stream, and also includes token issuance.
The statement "NFTs are back" is a subjective judgment from the founders, tied to their personal preference of "exchanging profits for digital goods," without providing a comparison table for blue-chip floor prices or overall market transaction recovery. fomo's main business remains social trading and meme coin transactions, rather than the collectibles protocol itself.
Mechanically, buyers are retail investors viewing trades as content, while sellers are platforms incorporating on-chain order books into consumer-grade applications. The event is driven by a market judgment from the founders, with capital flow still being application fees; the beneficiaries are those who can convert attention into orders, while the pressured side is still the end users who need to manage wallets and gas fees themselves. The comparison of digital goods to watches reflects consumer preferences, not liquidation data.
Public information does not indicate that this post corresponds to any large NFT transaction or new collectible section data opened by the platform.
Source: Public Information
ABAB AI Insight
Park describes the NFT cycle as a rule rather than a chart. fomo relies on reducing on-chain friction to gain traction, where users see opinions and order buttons, not contract addresses. Announcing "NFTs are back" in such a product is akin to reintroducing collectibles into the same user pathways that already buy meme coins.
The capital path is to expand social trading in the Series B round, with fees coming from high-frequency small orders, rather than blue-chip auction houses. The motivation is to keep profits on the application's tradable digital shelves, rather than flowing out to physical luxury goods. Resource mobilization relies on mnemonic-free deposits and information flow following, turning "digital goods" into the same settlement system as meme coins.
The analogy is that the two NFT booms in 2017 and 2021 were initiated by social dissemination, with OpenSea turning collectibles into information flow products, and Robinhood making options into thumb trades. In terms of industry positioning, on-chain applications are in a phase of reclaiming non-geek users with consumer-grade shells; whether NFTs return to the center of transactions still depends on floor prices, not just a slogan from the founders.
Structural judgment pertains to the transfer of pricing power: pricing power shifts from the consensus floor of the collectibles community to the information flow exposure of social trading applications. The mechanism is that when buying and selling are made into content, any opened image can be repriced as purchasable inventory; watches are external assets, while digital goods can continue to remain within the same fee machine.
ABAB News · Cognitive Laws
- Those announcing the return of a certain asset usually just integrated it into their own information flow.
- Profit flows to digital shelves, so fees won't leave the application.
- Items that can be bought with a thumb have a shorter cycle than watches in a display.