Golbintown is a new non-fungible token (NFT) project that took the space by surprise, amidst the decline in NFT volume all around. Despite the market downturn, Goblintown still managed to grow from a ‘successful free mint’ of 0.097eth and reached an impressive floor price of 2.75eth within a week! At one point it even surpassed Yuga Lab’s BAYC daily volume of $2.8m, with a whopping $8.5m USD. There are currently 4.5k holders, with more than 100 wallets owning 10 or more. These are amazingly impressive numbers, considering that it was a free mint and that they explicitly said on their website that these NFTs will have no utility nor roadmap.
The creators of these NFTs choose to remain undoxxed, which does not seem to be a problem to many. The interactive and playful website, clear statement that no utility will be provided, and the unique art design, all make for the perfect meme set to flourish in this market downturn. No discord and no utility means no future promises, and so there would be barely any expectations when a buyer purchases this NFT and thus leading to fewer disappointments.
When entering their website, we are welcomed with an interesting animated video, with a loading screen that reads “Hold on, dammit”, followed by “F*cking enter already”. Upon entering, we can read a playful text chat along with the mint page. This is a unique design considering most NFT projects use a one-page website with links to different sections of the page. Their Twitter page also follows a similar tone, with playful characters and slang words.
Thus, the big question of how they are performing so well amidst a Crypto/NFT downturn lies in the fact that people are tired of false promises, disappointments, high mint prices, dutch auctions, and legal issues, and dull repetitive art. Goblintown represents a solution to all these frustrations, and thus they flourish in such a hard macro environment.
In addition to the less serious tone surrounding this project, the creators also gave Goblintown a CC0 status, a form of copyright that grants the owners to use NFTs for commercial purposes in any way they want, without any attribution to original creators. This allows buyers to have total control of their NFT, and thus lowers friction when using it for commercial rights. This freedom also allows owners to show off their goblins in a lot more ways than non-CC0 projects, thus creating more publicity and public awareness. Giving owners more creative freedom ultimately allows the community to flourish without boundaries, good examples include CrypToadz who also made their NFTs as a CC0.
