It is no news that for an NFT (or any crypto project) to be successful or at least gain traction, there are some certain boxes – albeit, unspoken – the owner(s) or creator(s) must sort of check to increase the chances of success for the NFT. Usually, leading up to the launch of an NFT, the creator(s) of the NFT would do things like; have a peculiar marketing strategy, perhaps grow a community for the NFT to build its hype, and also have a ready customer base or at least have a roadmap.
However, it seems the case with these boxes to check for an NFT to succeed in the marketplace isn’t necessarily the case and the Goblintown NFTs came to prove that to us. The Goblintown NFT collection went live on May 22, 2022. By June 1, 2022, more than $37 million worth of Goblintown NFTs had been traded with all its 9,999 pieces claimed as of July 9, 2022. Goblintown went live without having a marketing strategy, a community, or even a roadmap. Despite several criticisms from top crypto figures like Justin Mezzell, who said the NFT isn’t a vibe for him, the NFT still went on to be a magnificent success.
Rarely do the NFT space see a crypto project that launches with an anonymous team become successful but the Goblintown NFT broke that bar because, at its launch, the team behind the NFT was unknown. No one, in particular, could be strongly linked to the project. Eventually, Truth Labs announced on Twitter that they were behind the project nearly a month after its launch.
Free minting, no copyright laws regarding usage, and the storyline behind the Goblintown NFTs are factors that helped contribute to its success.