Episode 3- An insider look at Goblin town 

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Transcript

Find below the transcription of the video from Amit Vyas and Andrew Thomas.

 

Andrew

Hey Amit. 

Amit

Andrew. You alright?

Andrew

 I'm good. How’s things, all good?

Amit

Yeah, very good. Very good.

Andrew

The interesting thing is obviously that I need to address the fact that this is the third show running and we're wearing exactly the same clothes.

Amit

This is true. We're in a bit of a catch. You’re giving away our trade secrets. 

Andrew

Exactly what I have to, because otherwise it might be like, hold on, those guys aren't exactly the same thing. 

Amit

Not for our podcast listeners.

Andrew

Ah know, yeah, I just burned it for our podcast listeners. Anyway, yeah, we're doing a bit of a catch up guys. So you most likely if you're hearing this show now, obviously hi, welcome to Web3 Digest with me and Amit. We've, we've kind of missed a couple of weeks and we wanted to get our head full of information and give it to you guys. So we want to do some different recordings today and kind of sort of release them over the next few days and you're hearing this. But anyway, we wanted to do a bit of a catch up show today. Right? Um, so we've spoken about some of the NFTs that we've kind of jumped in on some of our friends and some of the other kind of colleagues have jumped in on. So we thought it might be quite cool to talk about what was happening, right. So, you know, is it just a bit of a trophy? Is it sitting in your wallet and kind of showing off at parties and having some fun around it. The amount of stories that I managed to pull out of some of these things is pretty cool. But I thought it might be good, we thought it might be good guys to catch up on some of those stories and we wanted to jump in and um that's still currently ongoing right at the moment. 

Amit

This is a story that just keeps just keeps developing

Andrew

And keeps developing. So you've heard us talk before about Goblins kind of Goblin Town. This is a project that we jumped in on super early. Not crazy early, super early, I think it's probably the word that we look for. And at the time it was - I didn't know who was behind the project, I didn't know, no Discord, no roadmap, nothing. It was kind of very much website that told you there was no Discord, no website, no, nothing, you know, and obviously they released these Goblins, right? 

Amit

Yeah, it was one of those I think came to our attention because a couple of, I guess prominent people started talking about it. And basically they were saying there's something going on here, we don't know what it is. I have no idea who's behind it, but there's a project here which just looks really interesting and it's called Goblin Town.I look at the artwork and it's sort of hand drawn, you know, he's kind of a goblin. So anyway, I think it was intriguing enough, we were sitting in the office and I said to you just like this isn't going away. People keep talking about it, I'm just tempted to grab on. And so we did and I think it's been really interesting. I mean we I think firstly I think within about 3 or 4 days of us grabbing one of these just went absolutely crazy in terms of valuation, demand evaluation and and that kind of a slowly sort of trickled down and we we didn't sell out I think for us at the moment is very much like where is this going? 

Andrew

And we're enjoying the journey 

Amit

And the journey is, it's really key like what you said but I think just trying to mean so much has happened. 

Andrew

So I think first of all at NFT New York just prior to that where they found out who was behind it. Right? … Okay so Goblin Town obviously kind of launched and we've got a couple of goblins there and then something called Mcgoblin kind of appeared. All their communications through Twitter. You see the new space agency they've got?

Amit

Yeah. Right so all of that all of the communication if it's a suspect agency right all of their communication is through Twitter. They still don't have Discord. Um And it's very public in that sense that everyone is seeing everything that's happening. They launched something called the mcgoblin which essentially was burgers right? 

Andrew

So then they - and what was that? … So walk us through how we got those Goblin burgers.

Amit

Basically what they said was - basically announced that everyone who holds the Goblin NFT is entitled to create their own um burger Goblin, right? Because apparently Goblins love burgers, right? Um And so and again, I think just maybe go back one step. Every experience of everything they've created from a user experience perspective has been on a different level. So even with this burger you're ultimately creating your own NFT. You're creating your own burger design, choosing the type of barn and whatever rat fillings and all that kind of stuff that you want to put in there. Um you know from sauces to you know, drinks and all that kind of stuff. But it just perfectly kind of forms into a piece of artwork even mint that artwork into an NFT. And then that becomes your goblin burger energy and the total cost of that was nothing. Right? So it was basically a gift to everyone who had already invested in Globlin.  And then straight away that has an evaluation. Right? So it's almost like here's almost like a bit of a cash gift if you choose to cash it in, obviously we don't do that. So again we missed out on that opportunity as well, right but the journey’s cool. So then a week before I think they had to come out and say we're the guys who are behind and it turns out that they are fairly well known within the space. 

Andrew

Yeah it's called truth is an illuminati. And they've got a couple of other different projects, they're performance artists, smart, smart dudes in this space. 

Amit

And then obviously we went to NFT NYC and and the whole, I think the biggest buzz that was sort of created was from Goblins. Right? So not only now did everyone have these NFT burgers and stuff, they had actually had people dressed up as Goblins in character all day, all night, going around Manhattan. They'd also created these goblin burger hands giving away free burgers. Again, people were looking for these things, we found, we found one of them just, I mean, it's just just a very cool experience that transitioned from the NFT space for that real life experience and what's happened on the back of it is that communities just got stronger and stronger and stronger. And I think one thing that these guys have got right, where some other projects possibly have and if they understand that actually to keep that community engaged, there's something, there's a few things that have to keep happening. 

Andrew

They have to keep happening and they have also very cleverly not said what's happening.  

Amit

Correct.

Andrew

It's a constant kind of thing that is happening, but you don't know what direction it's going to take, but it's very well executed every single point. 

Amit

Exactly. And I think what it is is there's a story that's been created. People have figured out that this is part of the story, you know, the first thing was the goblin, and the goblin basically likes burgers now the goblin has a burger um and then I'm gonna let you kind of tell the next part the next part of the story now because I think you understand for baiting. 

Andrew

Yeah, yeah. So what they started to talk about now was, so what happens is obviously, and still again it's hearsay and it's, and it's thought and its people talking around it. So as much as they've they've now spoken about baiting, um so they've got a whole story around this and and and basically you can use a combination of your, your goblin burgers, your goblin burgers now to bait something called a grumble, yeah a grumble. So these grumbles are a real problem and what they've done is they've created a new experience on the Goblin town website, they released the URL, you jump on the URL what's interesting this time is that they've actually got a demo, they didn't have a demo from a goblin, so you can only experience the, obviously the build of your happy meal or you're a mcgoblin meal through, through if you had the NFT this time, they've actually done a demo and and this is something that we can share and you can all go and have a look and it's just phenomenal. So you've got to do their uh some sort of weird goblin and he's telling you the tale of kind of grumbles right and how you catch them and um and and how how you kind of walk through this process as an interactive process. You click on it, you answer questions, it's all in the narrative and the cartoon and the artwork and they walk you through the whole process. So it's kind of how many do you want, you want a hot dog in there as well? Do you want to kind of mix it up and then depending on how many you give you might get a different type of unborn then obviously it's called baiting. This is what's happening at the moment.

Amit

And on the back of it, whatever burgers you use to bait grumbles, those burgers get burned so those NFTs are actually being lost now that's right now. 

Andrew

Yeah exactly. So now what you've got is that as you said that you're burning that NFT and as you burn that NFT obviously then the overall number of mcgoblins goes down as well. Right so… the capacity. So what's interesting about that obviously is now it's a real dilemma for people right? It's like I should use my mcgoblin and at the moment a mcgoblin is $1,700 dollars, about 1 Eth I think … you know, and should I catch one of these grumbles and then what is it worth for one of those dudes? You know, and this is what's going on at the moment, right? I mean you can't, you can't do it yet,

Amit

You can do it now

Andrew

You can do it now. They're still allowing it, right? So um so while this is going on, if that isn't enough, what they've started to do is they've, they've started, they've launched, I can't remember the name of the space agency um that's come up, but they've now launched another Twitter account and you know that it's real because the same people that are goblins follow this and you kind of get the connectivity tissue and they're very active on there. Um so now they're talking about the roadmap, they put a little - did you watch the road map video?

Amit

No, I haven't seen it yet. 

Andrew

And it's a scribble of the same guy that was talking about grumbles and then it's kind of this road map and now people say, okay, is that the road map, where is it going? I mean it really is, it really is crazy as it sounds, it's wildly exciting, right? And I think what they've managed to do is they managed to capture the attention of the community to the point where I mean famously, you know, they took on a Twitter Spaces and they just spoke in goblin talk for, I can't remember how long, three hours Goblin talk. Even so, they had a party and an event at NFT New York. The head Goblin got up and spoke Goblin on stage for two minutes and then he started speaking properly, but still speaking in Goblin. And I was listening to the Spaces the other day where there were like three of the team from Goblin Town and they were talking about who does the best Goblin-like speak. And the other thing was quite interesting, so even though they were on Twitter Spaces, the way they've designed it is that not everyone knows everything in the road map, um so, and there's one guy called Alistair that they don't tell anything because he leaks stuff, it's kind of like it's quite interesting. So I think what's what's what's interesting at the moment, still bearing in mind guys, there's no endgame here, so there's no kind of, we're launching a game which is very unique and very different because most of the other NFT projects, let's say that are out there at the moment, that aren't just kind of your profile pic or whatever, they do have something and they're using that as an encouragement to get people to buy the Goblin. This is purely experiential, right?

Amit

100%. This is all about creativity. 

Andrew

Exactly.

Amit

Now that they've got a fully engaged audience, what do you do with that? And look at the end of the day, I think for those of you guys who aren't familiar with this project or the space and I'm thinking why these grown men with a combined age of 90 almost right, quick maths there, combined age of 90, why they’re talking  about goblins and baiting using Goblin burgers just for some real context, because I felt like I needed to justify the reason why we're doing this. I just did a quick grab of my laptop and so far this project has traded 46,100 Eth. 

Andrew

Okay. In real money?

Amit

Real money that's 7- lots of 0’s - $783 million.

Andrew

$783 million.?

Amit

Yeah, so just under $784 million.

Andrew

What’s the royalties on this one? Twelve and a half?

Amit

I can't remember this one. Yeah, I think it's around that. Yeah. I mean, look, so ultimately the creators of this have done pretty well. It was a free mint, so basically there's a royalty that's tied into this. So again, the quality of the work, if you do get time, google Goblin Town, go and have a look at the website. 

Andrew

And as you mentioned, and also the inspirational projects that jumped on the back of it. So you've got Goblin birds, stray dogs, goblin bats, you know, And I mean, there's other projects that have launched on the back of this. Obviously they're not anywhere close to the valuation, but they're fun. They're inspiring other people to create projects as well.

Amit

Correct. So the market cap right now, I'm getting this still pretty significant. But in terms of actual revenue generated by the creator's depending on what that royalty fee is somewhere between $50 and $100 million so far for what is ultimately a 3.5 month project so far.

Andrew

Yeah, I mean interestingly, as well as you found out a week from ideation to launch. 

Amit

It took them a week to get going. I mean this is just like this is, this is definitely an outlier in terms of … you know, we kind of laugh. Andrew didn't mention that we kind of went to bed one night and New York at the event at NFT NYC, saw a Tweet saying, hey we're having a goblin party and we both got out of bed post midnight and jumped in the cab. And I mean if you engage, if you're getting too old sods like me and Andrew to get out of bed in the middle of the night to go to a party, they're obviously doing something right? And we went there and it was crazy.

Andrew

Mental. Loads of goblins and screaming in your face, you know, goblin town burgers all over the joint are free burgers. The only thing I would say is the goblin is not very Hindu friendly, right?  But I mean yeah, I think what's interesting is you said about this project is we wanted to kind of give you a one up on some of these projects and we'll jump in on some of the other projects we've got as well in some of the other shows, but I think what's interesting about this at the moment is just the momentum that it carries, you know, and look what's interesting as well, it's a very public, it's a very public engagement. So on most of the other projects that that that were involved in and that we're aware of and people that jumped in on, they tend to keep things within a closed community, either on Discord or Telegram, and that's part of the buzz, but this community pieces like massively collective and public, so I think that's also why it's gaining the momentum and attraction, the quality of the artwork, the quality of the project, and also the fact that you can just see, you know, jump and have a look at mcgoblin and the new space station, I can't remember the name of it, but anyway, like the new, the new accounts that they're launching and they're all obviously kind of interacting with each other and they still to this day speaking goblin talk, you can kind of work it out, I don't know how they get that front on there, but it's Goblin talk, so you kind of have to, you know, that's part of fun trying to decipher what people are saying, it's fun your best Goblin impression. We’ll do that in a couple of weeks.

Amit

Exactly, but look, I think it's good to share with you guys.

Andrew

So what we'll do is over, we're trying to kind of pull in a bit of a different format for this. So again, 15 minute burns guys that we jump in and we kind of talk around these projects essentially kind of give you guys an update, but we wanted to give you an update on that. Upcoming shows - we're going to give you an update on so many other projects that are out there at the moment. I took a bit of a deep dive into the kind of whitelist environment and all of these free mints that are going on at the moment is quite a popular trend for free mint and for those who don't know that means that you're not actually paying for an NFT. You're gonna get free and you're paying gas fees on that. Also jumped into the kind of Solana space, which is, you know, gaining some traction as a movement for NFTs. So we've got some cool things that we want to, we want to kind of talk about jumping to kind of go forward. Right?

Amit

Yeah. 

Andrew

Cool, excellent. Alright guys, thanks for listening, thanks for watching. Amit, see you next time.

Amit

See you guys. 

Andrew

Cheers.