Despite the crypto market’s downfall, a newly launched NFT project called Goblin Town is enjoying its skyrocketing sales and simultaneously grabbing people’s attention by popping up to be one of the new top NFT projects of the week. which seems to be unaffected by the market crash.
Goblin Town, launched on May 22, is unapologetically crude drawings of goblin-like creatures, with a culture built around poor grammar, memes, and toilet humor. Goblin Town NFTs are a new meme-adjacent collection that is now beating the Bored Ape Yacht Club and Mutant Ape Yacht Club by exceeding their counts of likes.
The success of these new NFTs is the latest trend in meme-laden NFTs such as Kevin collections and the CryptoDickbutts. Further, this NFT collection has also topped among OpenSea’s top collections in terms of trading volumes and sales over the last seven days and consideringly in the last 24 hours. Goblin has also replaced BAYC and ranked number one.
The OpenSea data reports that the Goblin NFT has exceeded $25 million in sales over the last seven days and it has obtained $7.3 million in sales in just 24 hours, with the floor price of 8.69 ether, which was doubled from 3-3 ETH on Wednesday to 7.99 ETH at present. Further CryptoSlam data reports that the Goblin Town NFT has already sold out for over US$150,000 on the LooksRare NFT marketplace.
Consideringly memes are just not the driving force for the popularity of Goblin Town, whereas some believe that Yuga Labs are the reason behind the driving force for Goblin Town NFT. The fact we cannot ignore its growth factor would be Wash trading, a form of market manipulation for investors to trade between themselves to push up prices on platforms such as LooksRare.
The collection of 9,999 NFTs was launched in the month of May, were minted for free, and gained huge popularity in a short span of time. IT has also gained appreciation from the NFT market by notably helping the NFT market to survive through the bear market.