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

The rise to the top of Goblin Town is for books. Moonbird It became prominent in the bear market, but was taken over by the goblins in the midst of a global recession and the first winter of NFTs. How did these nonconformities do it? Use confusion, wrong directions, FOMO, and great marketing plans that surprise everyone. People didn’t know what was going on, but they didn’t want to attend the party.

The creators of Goblin Town have made it easy for them. First of all, the project was free mint. Then use the Creative Commons Zero license. This means that it is not copyrighted and may commercialize Goblin drawings as needed. Third, they didn’t use influencers, cross-promotions, or whitelists, even with hype. Perhaps because of that, Mint did not cause a gas war like many other successful projects.

Unusual launch of Goblin Town

The generated collection, released May 22, 2022, will run on the Ethereum blockchain. From the beginning, Goblin Town said, “There is no roadmap. No discord. No utilities. CC0. Agreement It wasn’t actually written by a goblin. Other sentences that stand out from Goblin Town Website Is as follows: That’s how we got here. This suggests that the collection serves as a commentary on the NFT market and culture. And that’s not the only clue to point that way.

On the downside, royalties are a whopping 10%, and creators have reserved 1000 NFT for other project owners. Given that Goblin Town was free mint, these two factors don’t seem to be that bad. So far, the main collection has generated a total sales volume of 43.9K ETH and the minimum price at Opensea is 3.1 ETH. Goblin Town was so hot there for a while that it turned the Almighty and boring Ape Yacht Club upside down and became the best-selling collection in a day or two.

The mystery of the creator of Goblin Town

At first they thought it was notorious NFT artist Beeple.. And the infamous Yugarabo was behind the project. For some time, people even believed that the brains and voices behind “Beavis and Butthead” and “King of the Hill” were the creators of Goblin Town. And as a type of goblin looks like a Snoop Dogg, the rumors spread.People still snoop Famous NFT collector Cozomode’Medici,nevertheless The story proved to be wrong..

Beeple was the only one who came out and dealt with the rumors. The person who tweeted“I’m not sane to say this, but I haven’t participated in a surprisingly low-labor pump and dump project that remains unnamed.” Then the value of the Goblin Town project is Proven, the author modified the song and tweeted the work “The Rise and Fall of Goblin Town” with the hashtag “#iamthefounder”.

But Beeple was not the founder. Seeing the immense success of Goblin Town, the mysterious creators had to expose themselves. Just in time for the NFT NYC meeting, they issued a message acknowledging that Truth Labs is behind the project. Behind the moderately successful NFT collections Illuminati Collective and The 187, the company won the gold medal on its third outing.

upon Truth website They define themselves as follows:

“We share fun blockchain pranks, creatively explore, develop rich and fun worlds and experiences (both IRL and digital realms), and provide a platform for new voices and visions in this space. I am devoted to doing it. “

In a bizarre event, when creators exposed themselves, Goblin Town’s minimum rates dropped from almost 5 ETH to just over 3 ETH.

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

The Of the collection Iconography

The name of Goblin Town comes from the Hobbit’s adventure, especially JRR Tolkien’s poem called “Down, Down, Goblin Town”. The name also suggests that the collection serves as a commentary on the winter NFT market for cryptocurrencies. Do you have any other clues? Several.For example, one goblin DJ and producer Steve Aoki, A notorious NFT collector.another People wearing T-shirts It says “Phunks, Zunks, Tendies, Azuki” and is a clear reference to the creator of Azuki and all of his rugged previous projects.

Yet another feature is the infamous Mike Novogratz’s reference to Luna’s tattoos, and thus a commentary on Terra’s collapse.

And what about this image, titled “Up, Up, To Goblintown”, referring to many good NFT projects?

And as for Steve Aoki, he was a DJ at the highly coveted NFTNYC party in Goblin Town. There, he premiered the dreaded NFT song “Piss On the Dance Floor (Goblintown Anthem)”. Reasonable price here.. And when it comes to NFT NYC, Better Also badGoblin Town was able to attract attention throughout the conference.

What a story.

Featured Image: Screenshot from their site | Charts by TradingView

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