Goblintown
1 known investors
Goblintown is a 10,000-piece goblin-themed Ethereum PFP NFT collection from Truth Arts, now expanding into games and brand IP.
Also known as GOBLIN Β· Goblin Town Β· goblintown.wtf
Investors Β· 1
Company profile
researched Aug 2026Goblintown (goblintown.wtf) is a profile-picture NFT collection of goblin-themed characters issued on the Ethereum blockchain and created by the studio Truth Labs, now Truth Arts. The collection was released in May 2022 as a free mint, with holders paying only gas fees, and comprises roughly 10,000 items (market trackers list 9,999 minted). The project deliberately launched without a roadmap, stated utility, Discord server or publicly identified creators, and the artwork was released under CC0 terms so holders face no copyright restrictions on commercial use. Twelve pieces in the collection are 1-of-1s, and the team reserved 1,000 goblins for itself.
The project is characterized by crude, irreverent humor and gibberish in-world language, delivered through the website (featuring two goblins, Urki and Garf, texting one another), the OpenSea collection description and social channels. The team also used mutable metadata as a storytelling device, updating five NFTs in the collection every two days over roughly a month and a half to narrate the origin story of an antagonist character β a technique that ran counter to prevailing NFT norms about immutable metadata.
Goblintown has since extended beyond the original collection into physical merchandise (including a "Goblin Sauce" produced with a food company and launched around NFT NYC), a PC/Steam title called Goblintown: Really Hard Driving Game, and token-linked mechanics via an associated GOB token. Co-founder Alex Taub has described the goal as building Goblintown into a durable entertainment brand rather than operating it as an NFT project alone.
Founding story
Goblintown was conceived by Alex Taub with co-founders Process Grey (artist and chief creative officer) and Cesar Kuriyama, founder of 1 Second Every Day, under their venture Truth Labs, which had earlier launched the Illuminati NFT mint in January 2022. The idea came from the May 2022 crypto market crash and the NFT-community joke β drawn from The Hobbit's "Down Down to Goblin Town" β that traders who lost money were "going to Goblintown." Taub proposed that holders swap ape and punk profile pictures for goblins during the bear market; Grey produced a simple PFP collection and Kuriyama proposed a free mint. The team went from idea to mint in about ten days and launched anonymously; concerned an anonymous free mint would be mistaken for a wallet-draining scam, Taub asked The Block co-founder Mike Dudas to publicly vouch for the project. The collection minted out in about 45 minutes.
Business model
Goblintown originated as a free-mint NFT collection, so no revenue was captured at mint; the collection generates value for its creator through secondary-market activity, retained inventory (1,000 reserved goblins), merchandise, and product extensions such as a PC game. Marketplace listings for the collection currently show a 0% creator fee on Blur and OpenSea.
Sources describe merchandise (including a co-produced Goblin Sauce), an upcoming paid PC/Steam game, and secondary marketplace trading of the collection; creator fees on the tracked marketplaces are listed at 0%.
Traction
The collection minted out in about 45 minutes and reached roughly 3,700 ETH in trading volume within two days of launch, taking the second position on OpenSea at that time. Floor price peaked at 7.35 ETH (about $13,387) on 2 June 2022 per CoinGecko, with other coverage citing a 5.4 ETH high before a decline to roughly 2.7 ETH in mid-June 2022 and later stabilization near 1 ETH. Recent tracker data shows a floor of about 0.094 ETH (approximately $234), roughly $2.34 million total market cap, 4,146 unique owners and negligible 24-hour volume.
Latest developments
In April 2025, OpenSea published an interview with co-founder Alex Taub describing preparations to release Goblintown: Really Hard Driving Game on PC and Steam and an ambition to build Goblintown into a long-lived entertainment brand. In October 2025, the project announced GobStrategy, under which a 1% allocation is used to purchase Goblins listed at up to 1.2x price and permanently burn them, with the 500,000 GOB tokens attached to each burned Goblin also to be burned over the following two years, making both the NFT collection and the token deflationary.
βΈFull profile β market position, technology, go-to-market, geography, history, risks & controversies
Market position
Goblintown became one of the most-discussed NFT collections of the May-June 2022 bear market, briefly reaching the second position on OpenSea by volume shortly after launch and, per one tracker, described as a blue-chip collection. Current tracker listings place it as a mid-cap PFP collection ranked around #153 by one price-floor site and #3,986 by 24-hour trading volume on another, with about 4,146 unique holders across 9,999 items.
The project inverted prevailing NFT conventions: no roadmap, no stated utility, no Discord, anonymous creators, a free mint and CC0 licensing, plus mutable metadata used to tell a serialized story. Its aesthetic and voice β deliberately ugly artwork and phonetic gibberish copy β distinguished it from polished contemporaneous PFP launches.
Technology
The collection consists of algorithmically generated pieces assembled from hand-drawn traits, deployed as ERC-style NFTs on Ethereum under a single contract. The team updated on-chain metadata for a subset of tokens to serialize a narrative. An associated GOB token exists, with 500,000 GOB attached to each Goblin under the GobStrategy program.
Go-to-market
Launch relied on a free public mint on a Friday afternoon, anonymity that fueled speculation about the creators' identity, third-party endorsement from The Block co-founder Mike Dudas to reassure minters, and organic amplification on crypto Twitter tied to bear-market sentiment. Distribution and trading occur through NFT marketplaces including OpenSea, Blur, LooksRare and X2Y2.
NFT collectors and profile-picture buyers on Ethereum, the crypto-native social media audience that engaged with the project's bear-market humor, and β with the forthcoming Steam release β PC gamers.
Geography
Coverage references the team's activity in the United States, including merchandise and events tied to NFT NYC in New York; the collection itself is distributed globally via Ethereum marketplaces.
History
Truth Labs launched Illuminati NFT in January 2022 and then Goblintown in May 2022. Speculation about the anonymous team ranged from Mike Judge to Yuga Labs and other prominent figures before the creators identified themselves as Truth Labs, describing themselves as a collective of creators in the NFT space. Truth Labs later merged with Upstream, a company Taub founded with CTO Michael Schonfeld, forming Truth Arts with four co-founders. Subsequent activity has included merchandise launched around NFT NYC, an announced PC/Steam game, and a GobStrategy buy-and-burn program announced in October 2025.
Risks & controversies
The project launched with no roadmap or stated utility, and coverage from the period noted uncertainty about its longevity and the absence of any disclosed team. Anonymity at launch created wallet-draining concerns among prospective minters and fueled unfounded speculation that the collection was a secret Yuga Labs project or the work of Mike Judge. The floor price has fallen sharply from its June 2022 peak, and current 24-hour trading volume on tracked marketplaces is effectively zero.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Timeline Β· 6
launches, deals, and filingsThe project announced GobStrategy, using a 1% allocation to buy and permanently burn Goblins listed at up to 1.2x price; the 500,000 GOB tokens attached to each burned Goblin are also to be burned over two years, making the NFT collection and token deflationary.
In an OpenSea interview, co-founder Alex Taub described Truth Labs' merger with Upstream to form Truth Arts and the forthcoming release of Goblintown: Really Hard Driving Game on PC and Steam.
CoinGecko records an all-time high floor price of 7.35 ETH (about $13,386.75) on 2 June 2022.
Goblintown.wtf, a 10,000-item goblin-themed PFP collection created by Truth Labs, was released on Ethereum as a free mint with holders paying only gas fees; it minted out in about 45 minutes.
The team launched merchandise around the NFT NYC event, including a hot sauce created in partnership with a food company.
Prior to Goblintown, Truth Labs launched its Illuminati NFT mint, conceived as a secret society on the blockchain.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- goblintown.wtf NFT Latest Floor Price, Charts, and Market Cap Dataforbes.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Goblintown do?
- Goblintown is a 10,000-piece goblin-themed Ethereum PFP NFT collection from Truth Arts, now expanding into games and brand IP.
- Who are Goblintown's investors?
- Goblintown's investors include WWVentures.