This latest market crash has produced one of the most elaborate memes we’ve seen to date: Goblintown.

In the span of just a few short days, this unabashedly irreverent NFT project saw all 10,000 of its freely minted pieces enter the NFT market, sporting floor prices of over 2 ETH at the time of writing. Aside from these main facts, there’s not much currently known about the project. That said, here’s a guide to everything we know — and you need to know — about the Goblintown NFT project.

What we know so far

Goblintown’s site URL (which ends in .wtf) seems to embody exactly what it’s named after — a colloquialism for bear markets. With many community members feeling very “wtf” lately – this project could easily be seen as an elaborate commentary on the current state of NFTs.

Despite ongoing debates on the utility of NFT projects, Goblintown’s anonymous creators have been upfront about the nature of this project. Directly on its website, written in bold letters, are the four most important points of information on the project: “No roadmap. No Discord. No utility. CC0.“ That last bit is especially worth paying attention to, as each Goblintown NFT is registered under creative commons — meaning buyers have free reign to do whatever they want with their goblins.

With its quickly rising floor prices, the licensing agreements behind each goblin, as well as its strong community support, some observers believe this crass project holds massive potential. We could very well be seeing the next blue chip NFT project unfolding right before our eyes.

Whodunit?

Observers have noted that despite the remarkably crass representation of the project, the overall quality is really high. This has led some to theorize that Beavis and Butthead creator Mike Judge may have played a hand in Goblintown’s creation.

Although Judge has shown some interest in NFTs, as evidenced by his brief dalliances in the space, this claim is pure speculation. Regardless, there are some similarities present between Goblintown and Judge’s previous work, such as the overall look of Goblintown, its focus on potty humor, and how its creators envisioned its goblins to sound.

In a bizarre Twitter Space hosted just past midnight EDT on May 26, guests were subjected to nearly three hours of various speakers taking the stage to make — for lack of a better term — goblin noises. Some saw this as further proof of Judge’s potential involvement, likening the goblin noises to one of the most iconic recurring bits on Beavis and Butthead.

The double-edged sword of anonymity

So why all the fixation on who could possibly be behind this new project? With projects as big as the Azuki collection facing community backlash due in large part to its creator’s recently unearthed history, there is certainly some prudence in putting a digital face to the Goblintown name.

As great as the project’s early days have been, verifying the identity of its creator may be crucial in projecting the project’s long-term value, even if that identity is carefully masked under a pseudonym. Who’s to say what the actual intentions behind this project could be? That point might have to be filed under ‘wait and see.’

Still, taking everything we’ve seen during this project’s early stages at face value shows us one key thing: the continued power of virality. Despite lacking a comprehensive marketing plan, partnerships with established brands, or affiliation with prominent members in the NFT sphere, it has made a huge mark within the community.

As absurd as the thought of thousands of people tuning into an incoherent twitter space may be, the fact remains that it was an experience. And those people? The makings of an actual community that may far outlive Goblintown’s relevance in the NFT space as a whole. That on its own is the mark of a successful project.

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