The gibberish-speaking goblins are taking over the crypto mainland. These new, comically bizarre creatures are settling into Goblin Town. They may appear foolish, but they are not, since they’d be bringing the NFTs to claim dominance! While you're guessing the Goblins’ next move, they will already be gobbling up McGoblin Burgers.
The Goblin Town NFT collection is something NFT fanatics are gushing over right now. If you don’t know what Goblin Town is and why Goblin lore is circling the crypto Twitter vulture-like, you are missing out big time!
To pique your interest, we must tell you that these distorted cartoonish-faced Goblin Town NFTs have toppled Bored Ape Yacht Club (BAYC) in terms of trading volume and sales in the past week. These goblins are the new sensation that is continuing to build up its hype with each passing day. Even those who were ‘Aping in’ suddenly took an about-turn and ‘Goblin’d in’ as well!
Got the hint, right? Now, let’s fill in your mind gaps to make you understand WTF Goblin Town NFT collection is and why it’s becoming the new up-ticking trend in the NFT space.
What is Goblin Town NFT?
Goblin Town NFT project is a collection of 9,999 generative NFTs built on the Ethereum blockchain. These NFTs are not ordinary as they seem to be, even the launch was quite dramatic, we mean Quite yet Dramatic !!
Doesn’t make sense, but soon it will. The NFT drop didn’t involve any collaborations, campaigns, whitelisting, or anything, yet managed to create an effortless buzz in the NFT community.
The catch here is, that these NFTs were free to mint with an obvious gas fee. Moreover, its website ‘goblintown.wtf’ clearly mentions that the project has no roadmap, utility, Discord channel, or whatsoever.
Despite the fact that the Goblin Town project is shrouded in ambiguity regarding how it will play out in future events, NFT collectors rushed in to free mint the NFTs.
Adding a twist to the scene, the Goblin Town NFT collection was launched on May 19, 2022, on OpenSea, when the crypto market was in a slump. Beating the odds, it still gained momentum and went on to enjoy climbing secondary sales for the weeks that followed.
Its unprecedented popularity confused many NFT traders, who saw this random NFT project enjoying success. While the excitement among NFT enthusiasts was at its peak, the Goblin Town boasted a floor price of 5.5 ETH, which is around $9600 at current market prices.
Around the same time, some rare goblins sporting unique avatars sold at a mighty 69.42 ETH (over $121,000) on LooksRare. This simply indicates the craze for goblin NFT characters in the crypto and NFT spheres, where everybody is still competing to get their hands on one of these.
Why is the Goblin Town NFT becoming popular?
The Goblin Town NFT collection is snatching the limelight from “blue-chip” NFT projects such as BAYC, Otherdeed for Otherside, Moonbirds, Clone X, and many others who have been maintaining their place on the top charts for quite a long time.
Apart from beating these NFT collections in terms of weekly sales, Goblin Town has succeeded in compelling people with its ability to make something from almost nothing.
The storyline of Goblin Town is enough to get NFT maniacs hooked. These NFT artworks feature crooked-faced goblins who converse in gibberish; even their 193 different traits and descriptions mentioned on OpenSea are Goblin blurbs.
To further stir the pot, the anonymous team behind Goblin Town hosted a Twitter space podcast that was entirely in Goblin-Gibberish.
The prominent NFT artist Michael “Beeple” Winkelmann was also rumored to be on the Goblin Town team. Surprisingly, the rumor is turning out to be true as recently one of the founders of Yuga Labs (a web3 company behind BAYC), Gordon Goner, tweeted “This guy with great hair showed up to dinner and started making goblin sounds. What does it mean?”
We can assume Yuga Labs might be involved in this too, but for that to be confirmed, we have to see how this project evolves.
Another reason for the undying craze is its CCO (creative commons zero) which means ‘No Copyright Reserved’ in general terms. Under this, goblin NFTs are free to be repurposed as per the owner’s discretion such that they can commercialize the NFTs as they want.
This is strikingly similar to how BAYC has given IP rights to its collectors, which empowers them to make derivative works such as animation, producing copies, stories, and much more.
McGoblin Burger is Here!
The Goblin Town is full of starving goblins who have a weird taste for stale, rotten McGoblin Burger. NFT collectors can only claim one burger per goblin. You might lose your appetite after hearing what these grungy goblins put in these McGoblin Burgers, but we have to tell you.
The McGoblin Burger is stuffed with worms, socks, meat, sauce, buns, or whatever mouldy thing is lying around the corner, but you have to get one to make your goblin happy.
According to Goblintown’s creators, Goblin Town is a place where all the goblins live. They like to be themselves, celebrate their talents, and love to indulge in burgers and yell. The team also believes, “Everyone has a little goblin inside them, and they are just going to let them out.”
Still not convinced to buy one of these ugly faces? Well, it’s not easy when the floor price of Goblin Town NFTs is approaching 6 ETH and collectors are already grappling to get their hands on Goblin NFTs.
The controversy around Goblin Town NFT
As much as this Goblin Town NFT collection is garnering attention, many of the NFT collectors are calling it irrelevant. This project is first-of-its-kind as usually NFT collections have their roadmap, pre-sales, and whitelisting ready before rolling out for the general public.
Despite its unclear intentions, the Goblin NFTs have become the new hum in the NFT town in no time. The free minting process was the added advantage that made the participation hassle-free. Nevertheless, it’s undeniable that such projects hold a lot of risks, and hence prices can go down just as easily as they shoot up.
Even Netflix Director of Product Design Kristy Tillman shared her opinion on Twitter calling the Goblin Town NFT project “either an absolute new low or brilliance”. She also emphasized the line between the two is very thin here.
On the other hand, Justin Mezzell who is Proof Collective and Moonbirds NFT Founder, called Goblin Town a crazy journey to watch but admitted the goblin town vibe isn’t for him.
Founder of Ethereum NFT collection Invisible Friends shared a meme on Twitter that suggested that Goblin NFTs was “killing” other NFT collections, including his own.
Though the goblin NFT art is comically ugly and controversial, it didn’t stop collectors from participating actively in this project. The reason could also be the rumored involvement of prominent players in the crypto market like Beeple and Yuga Labs.
Note that, out of 9,999 Goblin Town NFT characters, 1,000 are reserved for its creators. Interestingly, the smart contract of Goblin Town is not yet audited, yet it seems to have appealed to degens who are now flocking around this project.
Metaverse giant The Sandbox didn’t lag to join the Goblin trends and bought 1-of-1 Goblin Town NFT for 26 ETH, roughly $46,000. There are only twelve 1/1 Goblin NFTs in total, which makes the purchase worth noting.
Undoubtedly, the Goblin Town NFT holds so much potential that is yet to be revealed and we can witness more famous folks flying on Goblins’ broomsticks!
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