Goblintown NFTs: Joke, scam, or none of the above?
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The Goblintown.wtf NFT collection did the opposite of what is expected from a new NFT project. The team admitted that there is no utility, no Discord channel, and no roadmap. The 10,000 NFTs were free to mint, and the team behind Goblins demonstrated zero expectations of where the odd project would go. Nevertheless, it only took a few days for the project to reach over 10,000 ETH in trading volume.
The NFT market is full of surprises: rug pulls, complete scams, prestigious projects, and very well-marketed collections which raise millions of dollars “out of nowhere.” Goblintown seems to be one of the strangest projects to exist in the space: it has several curse words on its official page, the goblins are ugly creatures, and the project founders held a Twitter space that was entirely comprised of “goblin noises,” farts, and non-understandable language, yet over 56,000 people participated. The collection’s description on OpenSea includes odd phrases such as “AAAAAAAUUUUUGGGHHHHH,” “yoo sniksnakr DEJEN RATS,” and other gibberish expressions. It’s also a CC0 (creative commons zero) project, so there’s no copyright for the whole NFT collection.
The current floor price of Goblins is 1.69 ETH, with a total trading volume of around 10,321 ETH—over $18 million. It’s bizarre to think that a project without any goals or plans raised such a large amount of money but here we are.
Currently, the collection ranks second on OpenSea in 24-hour sales volume. However, sales fell by 65.99% today, a move that could signal reduced demand for the inexplicable project.
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