Goblintown NFT Founders Get Doxxed, Floor Price Fall Follows

On December 27th, 2018, the floor price of Goblintown was $0.0004 on the Ethereum blockchain and traded for about 0.00005 BTC per token before trading fell apart due to a DDoS attack that resulted in an 11% fall from peak prices within a few hours of opening trade day.

‘Truth Labs,’ a self-described collection of Web3 producers who are also behind the ‘IlluminatiNFT’ and ‘The 187’ initiatives, have doxxed themselves as the founders of one of the most recent NFT hype trains, ‘Goblintown.’ Despite the fact that openness is generally appreciated in the industry, the project’s floor price has dropped as a result of the release. 

Truth Labs released a four-minute video on Twitter to doxx themselves. The creators said that they were fearing doxxing themselves since they believe the initiative isn’t really about them in the film, which interacted with the audience through text. From then, the film includes multiple moments in which Truth Labs emphasized that Goblintown is not theirs, but rather belongs to everyone.

As you would anticipate, the film contained many moments of appreciation in which Truth Labs expresses gratitude to the community for the value and innovation generated by the initiative. 

The doxxing also revealed additional details about the project, such as the fact that it lacks a plan, Discord, and utility, and will never have one (a term they coined as ambiguous). Truth Labs has set aside 1,000 Goblin NFTs for pre-existing members of the IlluminatiNFT and The 187 communities, as well as members of the IlluminatiDAO and other actors in the space, according to the video. After NFT.NYC, where the initiative will be represented by ‘The McGoblinburger Burger Truck,’ the NFTs will be delivered in stages.

The video went on to say that new Goblintown merchandise would be released following NFT.NYC. Truth Labs argues that if they had chosen to stay unknown, the enterprise would have been tough. It was subsequently followed by the tagging of 12 of the team’s previously undoxxed members.

The floor price of Goblintown was about 4.9 ETH at the time of the video’s publication (on June 14th), but it quickly plummeted to 3.15 ETH, and is presently hovering around 3.33 ETH.

Given that Azuki’s floor price rose after its founder doxxed themselves as a serial rug puller, this counter-intuitive response has prompted Twitter users to speculate about its cause; however, given that NFT market reactions sometimes follow no logical path at all, it can be said that NFT market reactions sometimes follow no logical path at all. 

 

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