NFT
Truth Labs, the Web3 company behind the popular non-fungible token (NFT) collection Goblintown, is preparing to introduce its Season 2 mint – and this time it’s even weirder.
Big Inc, a follow-up to the 15,000-unit Goblintown Collection, has not publicly released a date or time for the coin. The collection is looking for “the worst traders in NFT land,” a Truth Labs spokesperson told CoinDesk, and will prioritize collectors based on their “rekt activity,” or bad trades in the space.
“If you are one of the top 1,000 worst traders in NFT country, you get 24 hours to slap your Big Inc acceptance letter for free,” Truth Labs said. Holders of other Truth Labs NFT collections, including Goblintown, Grumpl, and Illuminati, also have special privileges to mint their Big Inc tokens for free.
Process Grey, co-founder and artist at Truth Labs told CoinDesk that Goblintown Season 2 is meant to celebrate the culture and community Web3 has created, whether times are bullish or bearish.
“Right now everyone is down and for a lot of people it feels like only the influencers survived this past year,” Process Grey, co-founder and artist at Truth Labs told CoinDesk. “Goblintown originally celebrated the collective demise of the first wave of collapse – and Big Inc now wants to reward those who stuck!”
Goblintown Season 2 is based on the story of Big Inc, a large corporation in fictional Goblintown that has brainwashed animals to become its employees. The collection’s artwork features profile photos (PFP) that depict the animal heads with “super serious” expressions.
Interested collectors can apply to mint and Truth Labs will analyze portfolio data to determine the quality of a trader’s NFT trades. This puts traders on the “Down Bad Board” or leaderboard of the worst traders in the space.
In addition, the collection plans to capitalize on the popularity of meme coin PEPE, the price of which has increased by 2,100% in the past month, boosting its market cap to $502 million. In Season 2 of Goblintown, merchants can get a discount on the token coin if they pay in PEPE, making the token usable.
Mint participants can pay 0.096 ether (ETH), or about $175. Traders who choose to pay for the collection in PEPE receive a 50% discount, with NFTs dynamically priced at 0.048 ETH, or about $88.
When Goblintown opened its mint in May 2022, the collection generated $7 million in sales and defied standard NFT market trends at the time.
According to data from OpenSea, Goblintown has a bottom price of 0.33 ETH, about $600. The trading volume is 63,422 ETH, over $116 million.