Goblintown is a non-fungible token (NFT) collection that has outperformed Bored Ape Yatch Club in terms of trading volume in the last seven days.

The NFT Market is no stranger to fun and laughter in the form of art and collectibles. Following the recent market crashes that reduced the floor prices of major NFT collections such as BAYC and CryptoPunks, the rise of Goblin Town was unparalleled.

In recent weeks, the goblin-themed NFT project made its way into Web3 and snatched the second spot on OpenSea, with a total volume of 9.7k ETH changing hands. All 9,999 of the goblin NFTs were minted for free (excluding gas fees) on the Ethereum blockchain on May 22

But... they're hideous & ugly. What makes them special?

Read on to learn everything about them.

What are these dreadful and terrifying goblins?

Goblintown.wtf is a collection of 9,999 NFTs of weird, odd-shaped creatures called Goblins.

Each Goblintown NFT has distinct characteristics and traits, with 12 of them being one-of-a-kind NFTs in the collection.

On May 21st, 2022, Goblin#8995 (pictured below) was sold for 1.03 ETH ($2,028).

And, as of this writing, someone has placed a bid on the market for 40 WETH ($75,307.60)!

Trolls, dragons, wizards, mosquitoes, witches, and unicorns are all examples of goblins. Allow your imagination to run wild and create a creature; we're sure you'd find that creature here.

What is the purpose of Goblin Town?

Well... that's a question we've been asking ourselves. On the official website of Goblintown, you can see a goblin climbing up and down the stairs.

There is presently no plan in place for the project. There is no discord. There is no use for it.

Why are people paying such exorbitant money for these terrifying goblins when they have no use?

The solution is multifaceted. This is what we call an 'ugly hook'.

Allow us to explain.

When you first visit the website, you'll notice strange art images, a terrifying tense soundtrack featuring goblin groans, and an unusual font style.

To hear the Goblins, listen to the soundtrack below while reading.

You'll also notice two goblins texting. The discussion employs broken language, words, and phrases in an attempt to replicate goblin speech patterns, providing the user a playful and comic tone in their brand voice and establishing how goblins communicate.

If you continue scrolling down, you'll come across perplexing photo frames of various goblins that were gradually revealed day by day.

Nobody knows what this is about, but it gave collectors a sense of intrigue.

Also, the content on their Twitter and NFT collections on Opensea appears to be gibberish, and it's difficult to decipher what they're saying.

This is a unique method of putting your project out there in the world, where everyone is scratching their heads, trying to figure out what you're talking about. In some ways, people find the project to be one-of-a-kind and difficult to forget.

Furthermore, their art style is strange but entertaining. It sticks out amongst the crowd.

It takes a lot of effort to reliably ship out odd-shaped strange critters.

How often do you see NFT initiatives breach the rules as boldly as Goblin Town has?

Another thing to keep in mind is that the farther you delve into the project, the more puzzles you'll uncover. On May 21st, their Twitter account posted "ₛeₑₖ ₜₕ ₑGg" in Goblin language (superscripts and subscripts).

What's inside the egg? No one knows and the egg hatches over time.

This element of mystery piqued people's interest, and more individuals began to participate by purchasing Goblin NFTs.

There was also a Twitter space where some of the Goblins expressed themselves. The less said about it, the better...

Take a look for yourself.

Who built the Goblintown.wtf NFT collection?

The team behind Goblin Town remained undoxxed(unknown) for a while.

Many speculated that Yuga Labs (the team behind Bored Ape Yacht Club) to be behind it. Probably because this year, Yuga identified Goblins as one of its revenue streams.

Thus, many speculated that Goblintown is one of the secret projects by Yuga Labs but the co-founder of BAYC, CryptoGarga stated on Twitter that they were not the ones who created Goblin Town.

They did, however, reveal their team on May 31st, 2022, in typical goblin fashion, with only graphics of the Team Members.

1) Tulorf

Tulorf is typing on the keyboard with a blue nose. Tulorf coded the project's solidity contract based on the video.

2) Morb

Morb wears glasses and a nose ring and is seen holding a dog. Morb is the team's project manager, according to the video.

3) Blagga

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Pink nose, pink tank, and teal wings. According to the translation of the video, Blagga ensures that all of the goblins are facing the correct direction for photographs.

You can find the rest of the team here.

Goblin Town was created by Truth Labs, the same team that created Illuminati NFT and The 187.

Aside from the team reveal, they also stated that they are humbled by the response to Goblin Town.

“We’re just a little team of folks who had an idea that grew wildly-and wonderfully-out of our control”.

They also have plans for the 1000 Goblins that they initially reserved.

Watch the video down below to know more.

Final Thoughts

Goblin Town has its fair share of skeptics and it's understandable given that there's no roadmap or utility. It remains to be seen whether the project's team reveals themselves in order to add a roadmap and utility.

We see two possibilities with Goblin Town.

With Goblin Town, we see two possibilities.

• The excitement and mystery fade, causing the floor prices to fall and, eventually, people get rugged.

        (OR)

• A thought-provoking NFT guerrilla marketing campaign and a new form of web3 storytelling.

Only time will tell which of the above scenarios comes true.

But one thing is certain: Goblin Town is not your typical run-of-the-mill project.  We're curious to see how deep the rabbit hole goes in the future.

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