Is a blue chip NFT project in the making?

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There is a new NFT project in the block. Ethereum’s NFT collection which just burst into the NFT scene three days ago is already taking the market by storm. NFT project a blue chip in the making?

Data from the NFT data aggregator CryptoSlam shows that achieved the top spot in terms of total sales volume in the last 24 hours. The NFT project grossed a total sales of over $4.2 million in the last 24 hours. And this places the collection above big names in the space like BAYC and Otherdeed. With 3,332 transactions the floor price have risen to about 0.51 ETH. also grabbed the second spot in Opensea a secondary marketplace.

NFT Collection Rankings by Sales Volume

Furthermore, the NFT collection of about 10,000 ugly looking creatures which includes, troll, dragons, wizards, and mosquitoes has all the makings of a blue chip. But it may be too early to call for now.

What do we know about

Like most new NFT projects, the creators of Goblintown are undoxxed. So, there are no known people behind the collection of ugly looking creatures. All we know about the collection is that it was created by the King of The Globin who created the collection on Opensea. The project’s website also shows that there’s no NFT utility, no roadmap, and no Discord for its hideous community. The big question now is – what then is driving its popularity.

What is driving the popularity of these ugly-looking creatures?

With no roadmap, utility and limited social media presence what then is driving the popularity of these ugly-looking creatures. It is interesting to note that one of the reasons behind its popularity is the ugliness of the creatures. It seems people are drawn to the ugliness.

Another factor behind its popularity is the fact that they are free to mint in the first place. In a space where we have seen some mints cost as much as thousands of dollars. This is indeed revolutionary and could be the main reason behind its popularity.

While we continue to observe this collection, only time would tell if it would turn out to be a blue chip. And we also anticipate a roadmap, utility and social media presence.

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