As the non-fungible token (NFT) market continues to slide downward, down to Goblin Town, an NFT collection with a similar theme has caught fire.
The collection, Goblintown.wtf, saw sales volume of 3,800 ETH (about $7 million) over the weekend, the highest of any project this period.
The "Goblintown" theme is a colloquial term for the bear market, as both the NFT sector and the crypto market in general have been hit hard in recent weeks.
Part of the collection's popularity stems from its unconventional origin story. With little marketing hype or anticipation, the entire collection was free to mint and has no discord yet.
"No timetable. No Discord. No benefit," reads the project's website. "The contract wasn't really written by Goblins."
When contacted via Twitter DM, the team behind the project responded only in Goblinish: "ₜₕᵤᵣ ₐᵣ ₘₐₙₑₑ gₒₒbₗᵢₙₛ ₐₗₗ ₐᵣₒᵤₙd ᵤₛ wₑ ₐᵣ ₐₗₗ dₒwₙ," perhaps casting doubt on the website's claim.
The bottom of the collection reached a high of 0.75 ETH (about $1,500) yesterday, although prices have since cooled to 0.51 ETH ($1,060) for the cheapest editions.
The project also received a boost from a Sunday tweet from Bud Light using Goblin language.
More than meets the eye?
Because the success of the collection was so immediate and seemingly well-coordinated, many suspect that a more established team may be behind the scenes.
Some NFT sleuths have even floated the idea that Yuga Labs might be involved, though the moderators of the Bored Ape Yacht Club NFT Discord have denied the connection. Yuga Labs did not respond to CoinDesk's request for comment.
The success of the project may indicate that the NFT market still has some juice left in it, despite the overall decline in sales volume.
Another popular release this weekend was Oddities, a Moonbirds airdrop that saw similar volume numbers to goblintown.wtf and now boasts a price floor of 3 ETH (about $6,000).