Goblintown is a collection of 10,000 NFTs that has become an unprecedented success since launching on May 19. Each NFT features a grotesque goblin, to be used as a profile picture on Twitter, Discord or Instagram, each with different attributes and accessories.
Goblintown’s name and site URL, which ends in .wtf, both embody what every NFT collector feels during a huge market drop: Anger, chaos, utter confusion, and pandemonium. In this respect, the name is a colloquial expression for bear markets, and the project could easily be seen as elaborate commentary on the state of NFTs — and NFT collectors — during the 2022 drop.
The purpose of the project is also rather surprising. Recently, several prominent NFT collectors have noted that, to be taken seriously, an NFT project must have meaningful utility. Goblintown’s creators….don’t care.
From the start, the founders were upfront about the nature of this project. On the official website, the team outlined their plans in bold letters: “No roadmap. No Discord. No utility. CC0.” That last bit is especially worth paying attention to, as each Goblintown NFT is registered under a creative commons license, meaning buyers have free reign to do whatever they want with their goblin NFTs.
With its quickly rising floor prices, CC0 licensing agreements, and the amount of support it currently enjoys from the community, some observers believe this crass project holds massive potential.