- Goblintown.WTF NFT grew from 0 to 2.5 ETH per NFT.
- The project has crossed the $50 million club.
- Goblintown broke Otherseed’s Sales Record ($22.85 Million within a week).
- It could become a valuable investment (+30% in the past week).
The NFT marketplace is known for making fun of itself with memes. These can range from simple slang terms to full-fledged memes. And the recent NFT market crash brought another new opportunity for the NFT market. The rise of Goblintown is proof that the NFT space can turn even adversities into opportunities.
LEt’s take a quick tour around this newfound trend.
What Is Goblintown NFT Project?
Goblintown seems to be an NFT project. If you visit the official website, it doesn’t have any information to offer. There isn’t any Whitepaper, Roadmap, or Social platforms for you. However, there is a Twitter account. The entire reason for Goblintown to receive the spotlight is due to this Twitter account.
The account posted a sound clip with catchy music and goblin voices that started to become popular. WIth retweets, people also decided to take on the role of the Goblin NFTs.
Here are some points to note:
- Goblintown NFTs are available on Ethereum. It initially started as a free-to-mint NFT with 10,000 NFTs available. However, it has gained a value of over 2.5 ETH with its rising popularity.
- The Goblintown project also reserved 1,000 NFTs for whatever reason.
The Joke Of the NFT Market Crash
Goblintown became a feeling, a revolution, an era, and an idea. How’s that? The release of the Gblintown brought people an opportunity to make the best out of the marketplace.
The NFT Market hasn’t been doing great since the beginning of this year (2022). And there have been several crashes from Cryptocurrencies (Bitcoin) to the blockchain and NFT project crashes. Everything looked bleak and lifeless. Still, people kept holding on.
Even Goblintown’s website says, ‘Hold On, Dammit.’ Which could be taken as ‘Wait’ for either the website or the NFT marketplace.
Either way, people went crazy with the newfound NFT that became their way of expressing their feelings. People went from tweeting things like ‘Dump everything to Zero’ to posting artwork and memes related to Goblin’s unsanitary habit of pissing everywhere.
As disgusting or chaotic as it sounds, Goblintown has given a new shape to even the market crash.
How Is Goblintown Repainting The NFT Market?
It is too soon to judge if Goblingtown is a good thing or a bad thing. Because people were finally moving to a value-based NFT era. Creators were trying their best to provide value or backed-up utilities for their NFT projects. Then came the Goblintown without any whitepaper, roadmap, or speck of information.
Many users took it upon themselves to express how ugly or useless these NFTs seem. Yet, they are increasing in value.
Here’s our evaluation of why is it working:
1. Back To Basics
Before NFTs became popular, these were simply digital art. People bought them because they either liked them or didn’t. Some of these NFTs blew up and became trendy. Yet, there was nothing like Value, economic aspects, and other factors.
Goblintown is using the basic approach of the first-generation NFTs we received back in 2021.
2. An Interesting Story
When you visit the website, there isn’t anything until you get the ‘Fuckin’ Enter Already’ button. After that, you see a text conversation between the two goblins – Urki and Garf.
The text conversation uses broken language, words, and phrases, trying to mimic the goblin style. Yet it just works.
The interactive website and animation also seemingly work.
3. No Greed Project
As mentioned above, Goblintown started as a free-to-mint project where you just have to pay the gas fees. It grew in value by itself, thanks to the secondary marketplace like OpenSea. The original website doesn’t ask you to pay anything.
They also just reserved 1,000 NFTs because they wanted to. No explanation, no people-pleasing, nothing. Just straight to the point because they could do whatever they wanted. This played positively on the people.
The Overall Verdict
Some people are against Goblintown because they feel like it’s a slap for anyone trying to provide value through their NFT projects.
Meanwhile, we can’t ignore that Goblintown has kept the NFT marketplace alive. It could very well be the breeze we needed to revitalize the NFT world. The project could play a role in reviving the market after the crash.
They could very well still increase in value in the secondary marketplace or become one of the short-lived NFTs. It could be as big as Bored Ape Yacht Club and Crypto Apes. It could be the new symbol for the NFT Market Crash – A Goblintown. Because that’s what the market had become in the past few weeks.