Is Goblintown the Next Bluechip NFT or Is It All Just a Big Joke?

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Key Takeaways

1. goblintown.wtf is a collection of 10k NFTs boasting 193 different traits that were minted for free on May 22nd, 2022 and quickly rose to a 0.5 ETH floor price on OpenSea the next day.
2. The floor price of goblintown at the time of writing is 5.75 ETH($10,061) which 4601 unique owners hold with a total market cap of $100,183,750.
3. The collection clocked 3,300 ETH (around $6 million) in 24h sales volume, even much more than the Bored Ape Yacht Club (BAYC).
4. There are a lot of rumors about how it is going to be involved with BAYC.
5. This project is being really hyped by ₛᵤₚₑᵣₛcᵣᵢₚₜ, memes, and weird goblin sounds of grunting and groaning on their Twitter spaces. Their genius marketing turned out to be one of the most hype methods.
6. Goblintown is also followed by influencers and prominent investors like @garyvee, @champtgram, and even @TheSandboxGame bought some.
7. Same as Okay Bears, the team behind goblintown seems really competent at advertising and Web2 brand building. They both spotted a gap in such a competitive NFT market.

Recently, the words I have heard over and over are, “I could have bought goblintown at 0.02 ETH when I first saw it, but I thought this is a complete degen meme.” Now we should understand that memes rule everything.

Apparently, the free-to-mint collection is taking the bear market by storm, overtaking all the popular NFTs like BAYC and Otherdeeds for Otherside.

WTF？

How did this ugly thing rank the №1 on OpenSea even much higher than the Bored Ape Yacht Club (BAYC)?

Those wizards even have begun to laugh at other blue chip NFTs like the Moonbirds, Invisible Friends, CloneX, and the Mutant Ape Yacht Club (MAYC).

Why has it reached a floor price peak of almost 9 ETH from a free mint?

This article will explain to you everything you need to know about goblintown.

Let’s get started.

What is Goblintown NFT?

Website: https://goblintown.wtf/

Twitter: https://twitter.com/goblintownwtf

OpenSea: https://opensea.io/collection/goblintownwtf

WTF again.

No Discord？

Yes, you read that right. Maybe no team too. Because we don’t know any team members behind it. The team is undoxxed.

Unlike traditional community-building, marketing, collaborating, whitelisting, and creating hype for a mint and the public sale, goblintown seems to have come from nowhere.

Even if they are the hottest NFT now, they don’t have a huge following on Twitter. Only 63.1K followers now.

But as you can see from the following chart, their followers keep rising.

Shockingly, they do have about 3,419 tweets which have only happened in about the last half month.

If you scroll down their Twitter @goblintownwtf you will find that most of their tweets are just retweets of different memes and images.

Their website is pretty simple actually.

The website shows that they are sold out and that they were 1 free + gas mint per wallet and then don’t be fucking greedy. That’s how they got here and then they’re going to reserve 1,000 goblins only because they want to. And there’s no roadmap, no Discord, no utility and even the Contract wasn’t actually written by goblins.

How can they be so glib?

Besides, you’ll see 2 goblins texting each other on the left box. If you read that with classical goblin sounds, I believe it will be much fun.

Actually, “Goblintown” is a term used to describe the market’s persistent downtrend, synonymous with “bear market”. This is a reference to The Hobbit (1977)’s hit song, “Down Down to Goblin Town”.

Some say it represents the crypto bear market and point out that many Goblin characters have traits that are related to NFT culture, for example the LUNA tattoos.

What is The Hype With Goblintown NFT?

There are a lot of rumors about how it is going to be involved with BAYC.

Many investors believe that the Bored Ape Yacht Club creators, Yuga Labs, are the ones behind the project.

Why?

First, @GordonGoner, Co-Founder of @yugalabs @boredapeyc tweeted this on Jun 5.

When I read this tweet, thoughts thronged my mind, and I couldn’t stop wondering what is the relationship between Yuga Labs and goblintown and Beeple.

Is Beeple the founder of goblintown?

Addition, according to a leaked pitch deck, 1% of Yuga Labs’s estimated revenue for 2022 shows to come from “Goblins (S).”

Sometimes it’s not easy to discern between the true and the false. Anyway, the community was really hyped up.

The following figure shows that lots of BAYC holders are even flipping their apes into the calculated ugly.

In addition, there were significant similarities between goblintown and big influencers like @steveaoki, @SnoopDogg, and @keemstar.

Goblintown is also followed by prominent investors like @garyvee, @champtgram, and even @TheSandboxGame bought some.

Is Goblintown NFT the Next BAYC？

Will this project goes to zero or will this project goes to 100 ETH as a floor price？

The truth is, the hype is surely gonna die down as it always does.

From the current trading volume, it is not difficult to see that the hype of goblintown is declining.

If this continues, we could eventually see this project go down to zero!

At present, they are announcing an airdrop of the so-called@McGoblinBurger and nobody knows what that is.

We may only wish what actual utilities the goblintown can give to holders. Otherwise, it will be a potential rug pull.

Only time will tell how valuable that NFT airdrop ends up being, and what we can do now is enjoy the fun.

Also, Read

• Everything You Need to Know About Otherdeed for Otherside and Kodas
• What the Heck Is the Trippin’ Ape Tribe NFT Project All About?
• Okay Bears & Not Okay Bears NFT Collections: The Complete Guide
• Moonbirds: Soaring Beyond Expectations
• Is EightBit.Me a Potential Blue Chip?
• The Ultimate Beginner’s NFT Glossary 101: Terms You Should Know
• CC0 Fog of NFTs: What Rights Do We Actually Have When We Hold an NFT?

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