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    Goblin Town NFT: WTF is this collection?

    Goblin Town NFT is simply “AAAAAAAUUUUUGGGHHHHH gobblins goblinns GOBLINNNNNNNNns wekm ta goblintown”. Yeah…this is how they describe themselves. Does it make any sense? No. Is it one of the best performing NFTs out there? Yes. 

    How? We’re all equally confused. Let’s explore the town of goblins together. 

    Goblin Town NFT – The Launch

    In May 2022, the live-audio Twitter Space was crowded over a bunch of random dudes making incomprehensibly weird noises. That’s when the mischievous goblins infected the NFT space.

    Launching anonymously and scoring insane sales, Goblin Town got everyone talking about it. A few days after its launch, the absolutely ridiculous project sold all its 10,000 pieces. They were free mint and collectors only had to pay the usual gas fee. 

    The insanity isn’t here. 12 days after selling out, Goblintown’s floor price went up to 6 ETH (7,960.29 USD according to the current market) on OpenSea!! The most expensive was Goblintown #8995, which sold for $136,440.

    goblins

    AND, they had every NFT scam  and red flag in the book! 

    Anonymous team, free minting, no roadmap, no utility, no Discord, no clear explanation of what the project is. Nothing. Nada! 

    All we got is goblins grunting, being rude and talking about burgers. And, of course, their Twitter which now has 120.6k followers. Despite all the sketchiness, Goblin Town NFT’s current floor price is 0.9 ETH on OpenSea. 

    It became the talk of the NFT town with everybody wondering who’s behind these horribly ugly creatures. Theories were flying left and right. Some even said that Beeple was behind it. This however offended the artist deeply, pushing him to deny being part of such a “low effort pump and dumb” project. 

    Beeple

    This dumb project made breakthrough changes in the market that was crashing at the time. In fact, “we’re going to goblin town” was an on-point solid mockery of the market’s state. It was an obvious satire take on how the non-fungibles were losing value. 

    The gruesome tokens revolutionized the NFT space by dominating sales without offering the usual validation. 

    goblintown

    Who’s behind all of this?

    nft goblin

    Beeple is in fact not the creator, Truth Labs are. After rumors flying around for a while, they took to Twitter announcing they’re the gobs’ birth parents.

    They’re also the team behind IlluminatiNFT and The 187. They had promised to cause mischief and chaos, and that’s why they created the goblins.  

    Truth Labs noted that their mission is “dedicated to sharing delightful blockchain mischief, exploring creatively, developing rich, fun worlds and experiences (both IRL and in the digital realm), and providing a platform for new voices and visions in this space.”

    During the announcement, Goblin Town NFT’s creators reinforced that they have no roadmap, no discord, no utility and they’ll never have any. They also made sure that GoblinTown NFTs are CC0 meaning they don’t belong to the creators. They still earn 7.5% from each sale on OpenSea and LooksRare.

    Goblin Town NFT: Truth Labs Marketplace

    However, the team actually thinks that these fees are unacceptably high on secondary markets. OpenSea takes a 2.5 percent marketplace fee off of the final price of every NFT transaction and allows creators to set royalties from 2.5 to 10 percent.

    The web3 company decided to launch its own marketplace that will attract only a 5% royalty marketplace fee for NFT transactions.

    Goblin Town NFT

    The company also explained, in the press release, that they will introduce stricter processes for reporting stolen NFTs. Therefore, their main aim is to reduce fees and increase security in its collections. 

    This will fuel conversation regarding the royalty fees on other markets and encourage competition and diversity in the NFT community. What can we say besides “AAAAUUUGGGHHH”? 

    If you think the Goblin Town NFTs are weird, you don’t know what we’ve got in store for you. Here’s the two weirdest NFTs in 2022.

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