The NFT market is “We are all going to make itFrom “We all die”.
Ever since NFT collectors got hooked Goblin Town— Avatar in the profile picture of a golem creature obsessed with urine — Market sentiment has changed. Over the past few weeks NFT Space has become a dystopia and is depressed. Creators are doubling the humor of dark memes and toilets to deal with the bear market.
Collection barrages focused on goblins, feces, death, and loneliness flock to the OpenSea top collection rankings, accounting for 45% of the top 20 collections traded in the past week. Some traders repeatedly listen to Kanye West’s Pablo album on Twitter Spaces to deal with the market downturn. And yes, now we have an NFT, which is a unique blockchain token that indicates ownership. holder I am devoted to this.
“For now, I think the bear market is looping everyone a bit. If you do something different, you can get the market’s attention,” he said. Boring Ape Yacht Club Owner Professor M On Twitter, she says she teaches marketing and studies consumer culture.
Rise of Goblin Town
However NFT The market was not always like this.
When NFTs were traded last year Ethereum Projects such as CryptoPunks, Bored Apes, and later Doodles, Cool Cats, and Azuki dominated both charts and headlines, with sales growing rapidly to over $ 20 billion.
Now that WAGMI’s honeymoon is over, traders seem to realize that not everyone is “successful.” And now it’s down to Goblin Town.
The Goblin Town Ethereum NFT remains at the top of the OpenSea rankings, with a total of over 32,000 ETH ($ 57.6 million) in transactions in just two and a half weeks since it was first launched as free mint. Ethereum price) Purchase these NFTs at the time of launch. “”Goblin TownIs a term used to describe the bear market and has become an increasingly popular meme among crypto traders over the past year.
NFT trader Concierge Physician said Decryption In an interview he works as a Japanese-Chinese doctor and has a portfolio of over 1,000 NFTs, which corresponds to seven numbers including: Bored monkeyWith mutant apes CloneX NFT. He said that in his view, Goblin Town deliberately launched the current meta of an ugly NFT.
“Art is terrible,” said the concierge doctor about Goblin Town. “People are just trying to be Degen, so they can actually turn over and make a lot of money.”
The term “degen” is chronically online and is common for crypto traders, spending hours tracking and trading these assets daily, often at the expense of others. Monica (often voluntary) life.
Concierge Physician said he spends 3-5 hours a day researching the NFT market early in the morning or late at night.He has a “good company” NFT like Bored Ape Yacht Club Recent slump Traders were upset by rising prices due to the wider crypto bear market, but still decided to find a way to make money.
“Even in the bear market, there is always money to make money,” he said, but added that ugly art is not worth the risk to him.
For other “Degen”, Goblin Town is a rally cry for hungry traders looking for memes, making money while doing it.
“Goblin Town gave birth to a teenager [sic] Derivatives, but the art style and colors are fresh-I think the little “ugly” of the majority of aesthetic blue chips has caused interest …. Like the Alt Blue chips-green chips “Goblin Town owner dgen.eth said Decryption Via Twitter DM.
Dgen.eth currently owns 12 Goblin Town NFTs, including one Goblin Town Wizard NFT.
“The fact that all the members of the project use voice synths and sound like goblins in the Twitter space further deepens the mystery. Everything is done very well. […] Images, sounds, interfaces, contracts-it just screams wealthy and trustworthy Web3 “Backers,” he speculated.
Poop and death are trends
Following Goblintown, We Are Going to Die (WAGDIE) NFTs ranked second in the OpenSea weekly rankings. Another free collection, WAGDIE’s OpenSea description, says, “There is no map, only death.” This is a reference to the lack of roadmap types for future development that NFT collections and other projects typically offer to investors.
WAGDIE has generated over 9,000 ETH ($ 16.2 million) in sales in just one week.
The WAGDIE collection caused a turmoil on Twitter on Monday and shared the purchase of the Mutant Ape Yacht Club NFT for 21 ETH ($ 37,800) with plans to burn assets. This is the process of permanently removing NFTs from distribution.
??????????????????????????????????ℌ??????? ??????????????????????????????????ℌ???????. ??????????????????????????????????????? ???????????????????????????????????????. ???????????. https: //t.co/U9G6HbkRFl
— ?????????????????? (@wagdie_eth) June 7, 2022
Burnt MAYC is now part of the WAGDIE lore.
“The creatures shouted in suffering as more than 1,500 followers were looking forward to chanting each other … Burn the Ape,” said the collection. Fandom page Read.
Apparently, burning NFTs for public sights is appealing to many degens. Late Tuesday night, a goblin holder commented on the burning of NFTs in a Twitter space for NFT holders in Goblin Town and Serial Club.
“Burning it all to the fucking ground!” They exclaimed.
But Goblin Town and WAGDIE aren’t the only voluminous nihilistic NFT collections. Other top collections, including free mint traded in the past week, include ShitBeast, ill poop it nft, mcgoblin.wtf, Goblin Grlz, Leave Me Alone NFT, troll-town.wtf, Begin as Nothing, Shit Plunger, etc. there is.
Many of these collections also boast no Discord servers or websites. These elements are usually expected to be launched with the NFT collection.
“Many, four or five people wouldn’t be surprised. […] Concierge Physician described the onslaught of a fecal and goblin-themed NFT project.
When it comes to the themes and emotions of these communities, their names speak for themselves. Nihilism and body excrement are the trends.
“Your NFT is just a small part of the 10,000 pile of shit, where your” good company “NFT or the jpg you hold is ngmi. “Ill poop it nftThe collection description currently includes assets with a single “poop” JPEG minimum charge of over 1.1 ETH ($ 1,980).
“There are many copy-and-paste projects,” said Concierge Physician about the trend of poop and goblin-themed NFTs.
“90 or 95% fail […] Wait two, three, or five years and see where all this is. “
Light at the end of the tunnel
Some NFT fans may be looking for a “copium” through a poop-themed NFT, but the outlook isn’t all bleak. A report Earlier this week, crypto analysis site DappRadar suggests that the NFT market is more resilient than the broader crypto market and may be separated from it as the NFT space matures.
And although the monthly volume of OpenSea has dropped from about $ 3.5 billion Data from Dune Analytics show $ 2.6 billion in April, comparable to the numbers generated by OpenSea in November 2021 when bullish emotions dominated the space.
NFT enthusiast and comedian Kmoney 100,000 Last month’s Twitter followers often include cult-like mantras such as “We’re building” and “WAGMI” that ironically repeat for comedy effects from sketch videos that make fun of NFT status.
“When the market calms down, I think the space is out of date, so again they just make it fun,” he said. Decryption..
Initially, Kmoney wasn’t a fan of this new wave of deliberately ugly, disgusting, and depressing NFTs.
“”[But] Then I accepted it and never felt so much fun and joy. “
For now, NFTs have gone to goblins.
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