• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Goblintown, screenshot from the site
Nexo Logo

Blue Chip NFTs 101 – Down, Down, To Goblintown. An Unlikely Success Story

Eduardo Próspero by Eduardo Próspero
3 weeks ago
in Ethereum, NFT, NFT market
Reading Time: 5 mins read
Advertisement

Goblintown ‘s rise to the top is one for the books. The Moonbirds came into prominence in a bearish market, but the Goblins took over in the middle of a global recession and the NFTs first winter. How did these misfits do it? Using confusion, misdirection, FOMO, and a great marketing plan that took everyone by surprise. People weren’t sure of what was happening, but they didn’t want to stay out of the party. 

The creators of Goblintown made it easy for them. First of all, the project was a free mint. Second, it uses a Creative Commons Zero license, which means no Copyright and the possibility of commercializing the Goblin drawings as needed. Third, even though the hype was there, they didn’t use influencers, cross promotions, or whitelisting. Maybe because of that, the mint didn’t generate a gas war like many other successful projects.

Goblintown ‘s Unusual Launch

Launched on May 22, 2022, the generative collection runs over the Ethereum blockchain. From the beginning, Goblintown promised, “No roadmap. No Discord. No utility. CC0. Contract wasn’t actually written by goblins.” The other sentence that stands out from Goblintown’s website is: “Don’t be f*cking greedy. That’s how we got ourselves here.” This suggests that the collection serves as a commentary on the NFT market and culture. And that’s not the only clue pointing that way. 

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

On the slightly negative side, the royalties are a whopping 10% and the creators set aside 1000 NFTs for their other projects’ holders. Considering Goblintown was a free mint, those two factors don’t seem that bad. So far, the main collection has generated 43.9K ETH in total sale volume and has a 3.1 ETH floor price at Opensea. For a moment there, Goblintown was so hot that it flipped the almighty Bored Ape Yacht Club and became the highest-selling collection for a day or two. 

The Mystery Of Goblintown’s Creators

At first, they thought it was notorious NFT artist Beeple. Then, that the infamous Yuga Labs was behind the project. For a time there, people even believed that the brain and voice behind “Beavis And Butthead” and “King of the Hill,” Mike Judge was Goblintown’s creator. And, since one of the Goblins kind of looks like Snoop Dogg, that rumor circulated too. It made sense because people still believe that Snoop is famed NFT collector Cozomo de’ Medici, even though that story proved to be false.

The only one that came forward and addressed the rumors was Beeple, who tweeted, “insane I have to say this, but I have not joined any shockingly low effort pump and dump projects that will remain nameless.” Later, as the Goblintown project proved its worth, the creator changed his tune and tweeted the piece “The rise and fall of Goblintown” together with the hashtag “#iamthefounder.”

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

THE RISE AND FALL OF GOBLINTOWN #iamthefounder pic.twitter.com/oHWlm3IduY

— beeple (@beeple) June 5, 2022

However, Beeple was not the founder. Seeing Goblintown’s immense success, the mysterious creators had to doxx themselves. Just in time for the NFT NYC conference, they released a message in which they admitted that Truth Labs was behind the project. The company was behind the mildly successful NFT collections Illuminati Collective and The 187, and struck gold with their third outing.  

On Truth’s website they define themselves as:

“We are 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.”

In a strange turn of events, as the creators doxxed themselves, Goblintown’s floor price fell from almost 5 ETH to a little over 3 ETH. 

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

ETHUSD price chart for 07/16/2022 - TradingView

ETH price chart for 07/16/2022 on Binance | Source: ETH/USD on TradingView.com

The Collection’s Iconography

The Goblintown name comes from The Hobbit, specifically from a J.R.R. Tolkien poem called “Down, Down, To Goblin Town.” That name also suggests that the collection serves as a commentary on the NFT market in the crypto winter. Are there other clues? Several. For example, one goblin like Dj and producer Steve Aoki, who’s a notorious NFT collector. Another one wears a t-shirt that says “Phunks, Zunks, Tendies, Azuki,” a clear reference to Azuki’s creator and all of his rugged previous projects.

Yet another one of the traits is a reference to the infamous Mike Novogratz’s Luna tattoo, and thus a commentary on Terra’s collapse. 

Then we have a goblin with a tattoo saying $LUNA.

This is likely a reference to @terra_money and the $83B collapse of the stablecoin $UST. https://t.co/wn0lliBVY3 pic.twitter.com/D5vj54rqbk

— tansan.eth — ₜₕₑ bₑₐₙ Gₒbₗᵢₙ (@tansanDOTeth) May 30, 2022

And, what about this image that references a lot of blue chip NFT projects and is titled “Up, Up, To Goblintown.” 

ᵤₚ ᵤₚ ₜₒ gₒbₗᵢₙ ₜₒwₙ pic.twitter.com/zjngNZc1en

— goblintown.wtf (@goblintownwtf) May 22, 2022

And well, speaking about Steve Aoki, he was the Dj at Goblintown’s highly coveted NFT NYC party. There, he premiered the horrible NFT song “Piss On the Dance Floor (Goblintown Anthem).“ You can still buy it at a reasonable price here. And, speaking about NFT NYC, for better or worse, Goblintown managed to be the center of attention throughout the whole conference. 

What a story.

Featured Image: Screenshot from their site | Charts by TradingView
Tags: AzukiBeepleblue chip NFTsBlue Chip NFTs 101Cozomo de’ MedicidownethusdGoblintownIlluminati CollectiveLUNAMike JudgeMike NovogratzNFT NYC conferenceNFT.NYCOpenSeaSnoop DoggSteve AokiTerraThe 187The HobbitTo Goblin Town.Truth LabsYuga Labs
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Venezuelan. He wrote a novel, but it's only available in Spanish. It's called "La Tormenta."

Related Posts

Ethereum ETH ETHUSDT

Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says

13 hours ago
Ethereum ETH ETHUSDT

What Would Be The Ethereum Merge Impact On Cryptocurrency Miners

2 days ago
Active Contribution Across Solana, Bitcoin, And Ethereum Grow

Active Contribution Across Solana, Bitcoin, And Ethereum Grow

4 days ago
Ethereum

The Pelosi Effect? Ethereum Faces Headwinds Over Area At $1,600

5 days ago
Experts Forecast Entry Points In Ethereum Hedge Funds Retail And Institutions

Experts Forecast Entry Points In Ethereum Hedge Funds Retail And Institutions

6 days ago
Ethereum

Ethereum Options Surpass Bitcoin Ahead Of Upcoming Merge

6 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

LBank Exchange Will List cheqd (CHEQ) on August 10, 2022

August 9, 2022

LBank Exchange Will List Voice Street Token (VST) on August 15, 2022

August 9, 2022

LBank Exchange Will List Rare Fnd (FND) on August 9, 2022

August 9, 2022

The Main Reason Why GNOX (GNOX) Could Flip Dogecoin (DOGE) And Shiba Inu (SHIB) In 2023

August 8, 2022

The Next Bullish Wave in Crypto Could Generate Huge Profits for Uniglo (GLO), Fantom (FTM), and Optimism (OP)

August 8, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.