These Urine-Loving Goblintown Ethereum NFTs Now Cost $16K

If youve been on Crypto Twitter lately, you might be asking yourself: WTF are all these goblin NFTs clogging up my feed? We had the Kevin spinoffs from Pixelmon, the CryptoDickButts, the MFers … and now this?

But if youve been lucky enough to avoid much of the meme-laden JPG fodder, let Decrypt introduce you to the oneand onlyGoblintown.

Goblintown isnt a real place. Its a state of mind that involves groaning, moaning, memes, and an undying obsession with urine and fecal matter. Its community mispells more words than a kindergartener (its intentional), and its official OpenSea description is little more than a few discernible words embedded among all-cap letters.

To join this exclusive community of gibberish-speaking fetishists, youll now need at least $16,000. The minimum purchase price (floor price) of one Goblintown NFT more than doubled overnight into Wednesday from 3.9 ETH to 8.95 ETH at one point, which in this market dip equates to about $16,600.

So far, the highest goblin sale was a 1-of-1 orc NFT, which sold for 77.75 ETH ($144,600) on LooksRare early Wednesday morning. Though its worth noting that this may be a product of the marketplaces rampant wash trading.

Regardless, some are paying five to six figures for ugly goblinsThe Sandbox blockchain metaverse game purchased a 1-of-1 Goblintown NFT a week ago on OpenSea for 26 ETH, roughly $48,000.

Perhaps, dear reader, you might be asking yourself, Why on Earth would anyone buy such an ugly NFTa unique blockchain token that signifies ownership over an assetfor thousands of dollars?

Thats a good question. For one, the NFT community has plenty of degens who enjoy aping into new projects.

Add to that the fact that the Goblintown collection, which currently has 4,600 unique holders according to OpenSea data, prides itself on having No roadmap. No Discord. No utility. The reason for the NFTs skyrocketing price appears less and less to have any clear rhyme or reason beyond being for the memes.

To a large extent, it is about the memes. There are plenty of Goblintown memes online, and there’s even a 1-of-1 NFT based on the Pixelmon collections much-memed Kevin.

Over the past week and a half since its free mint, Goblintown has already trickled into mainstream consciousness. Netflix Director of Product Design Kristy Tillman called Goblintowns Twitter Space last week (where NFT holders made goblin sounds) either an absolute new low or brilliance. The line is very thin here.

Proof Collective and Moonbirds NFT Co-Founder Justin Mezzell called Goblintown a crazy journey to watch but admitted the goblin town vibe isnt for me.

Markus Magnusson, Founder of the Ethereum NFT collection Invisible Friends, suggested that the hype around Goblintown was killing other NFT collections, including his own.

But the NFT community on Twitter sees it differentlyand has a simple reason for splurging on images of creatures with traits like Flappy, Dawwww, Clubbin time, and BLINGG.

Why I bought this Goblin for $11k+, NFTNick.eth wrote. It was good content.

It seems that much of Goblintowns success comes precisely because its associated art is so comically ugly.

OOPS. I just Goblind in at 8.1[ETH].. Look at this UGLY Fr, one Bored Ape Yacht Club holder wrote on Twitter.

As the NFT community rallies around goblin JPGs, many are left scratching their heads. The founders of Goblintown have yet to reveal themselves, leaving Twitter power users with nothing but speculation.

One self-described meme connoisseur admitted that even they were baffled by Goblintowns rising floor price.

Anything you thought you knew about the NFT market you dont, they wrote, [and] clearly neither do I.

But if you think the Goblintown founders have finished all they set out to do, think again.

A mysterious tweet written in goblin-speak surfaced on the official Twitter page Wednesday morning, hinting at a possible free drop through the official Goblintown website this Friday evening. The tweet appeared along with an image of what can only be described as mutant burger juice.

Make of this what you will.

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