2021 saw the boom of the non-fungible token (NFT) space. Little were people expecting that an image on the blockchain would turn many into millionaires. But, as we turned into the new year, the NFT hype all but fizzled out. The crypto market collapse further brought down interest in non-fungibles.
However, on the 26th of May 2022, a certain Twitter Spaces discussion grabbed the attention of a big audience. Listeners were tuning in to what can be described as unintelligible goblin noises. This went on for three whole hours.
The hosts were the unknown developers of Goblintown.wtf, a collection of 10,000 NFTs that has exploded in popularity since its May 19 introduction. Each NFT has a monstrous goblin with unique characteristics and accessories.
Because Goblintown was a free mint, people who bought it at the public sale just had to pay a processing fee. Goblintown’s admission fee on the NFT marketplace OpenSea has risen from $0 to $11,500 (6 ether) in the 12 days since its inception. Rarer ones might cost up to three times as much.
Gobintown is currently the number one ranked collection on Cryptoslam, followed by the popular Bored Ape Yacht Club collection (BAYC).
In the last 24 hours, Goblintown has witnessed a 103.5% rise in sales, compared to BAYC’s -64.7%. Goblintown has seen a sharp increase in buyers, currently at 567, up by 17.10%. On the other hand, BAYC saw a 56.50% dip in buyers, currently at 20.
Goblintown’s floor price has also up by 72.67% at 7.77 ETH, compared to BAYC’s 1.48% rise, currently at 87.77 ETH. Additionally, Goblintown has 1,386 active wallets, up by 17.30%, while BAYC has 95 active wallets, down by 21.50%.
Who is behind the Goblintown NFT project?
Since the game’s inception, fans have been persuaded that Goblintown’s anonymous squad is made up of well-known figures. As a result, they’ve gone about deciphering messages posted out on Goblintown’s Twitter, which are all written in stylized goblin speech, and unearthing hints in the NFT artworks.
The Twitter realm has so far found out that “Goblintown” could be a reference to the current bear market. The word is derived from a song in the novel The Hobbit. Several of the collection’s goblins have characteristics that ridicule NFT culture. Many goblins have tattoos of the Luna cryptocurrency, which went bankrupt in early May, while another is a blatant allusion to “Kevin,” the mascot that personified the Pixelmon NFT collection failure. The squad interacts only through stylized goblin speak on Twitter, and folks are still perplexed as to why these goblins are so obsessed with burgers.
However, not everyone is excited about the project. Beeple, the popular NFT artist took to Twitter to share his thoughts regarding the same.
Initially, there were reports that it was supported by Mike Judge, the creator of King of the Hill, or the crew behind Bored Ape Yacht Club. However, there is no confirmation regarding who the creators are.