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Degen season is in full force as Goblintown continues to take the market by storm. What started as a free mint has seen its floor price surge 178.98% in under a week to 4.5 ETH.
Unlike blue chip NFTs, which are suffering at the hands of the curren crypto winter, Goblintown’s lack of a roadmap and utility has ironically become its appeal.
In support of Goblintown, Singapore’s Chanel Lee – founder of Tasty Toastys NFTs – has started a DAO to help the community buy into the new project.
Read more: This Singaporean Millennial is Creating NFTs to Build a Real-World “Toasty” Home Decor Brand
Just like the Goblintown NFT project itself, greenchipzonly explicitly mentions that it has no roadmap. “100% mint to save goblins from dirty floor & nasty draggin”, the project states. A link to Lee as greenchipzonly’s “stanky doxxed founder” is also included in the project’s site.
Speaking to Blockhead, Lee said she was inspired by Goblintown’s “strong community cult following.”
“BAYC started off as people making monkey noises in spaces”, she said. “It’s buy now or forever rerget! That’s all pure degen play.”
At a time when the fear of rugpulls is prevalent across the NFT bear market, Goblinntown’s transparency about its lack of utility is refreshing and appreciation of its model is reflected in its value.