Welcome to Goblin Town. That's the name given to a precipitous crash by crypto investors, and based on a recent Twitter Spaces that saw crypto people roleplay as goblins—incoherent gurgling and goblin-speak included—that's exactly where crypto is right now.
"Let's eat, eaaaaat," crypto investors said in a recording of a Twitter Space that went viral, before devolving into guttural yelps as one person tries to speak normally in the background. The Space was called "aaaaaaauuuuuGGGhhhh," and went on for two full hours once the goblins got going.
The Twitter Space (listen to the whole thing here) was actually part of a new NFT project called Goblintown.wtf, which has achieved sudden popularity amid the ongoing crypto crash. The minimum price for a Goblintown.wtf NFT is currently over $4,000 in ETH with the project seeing more than $18 million in total trade volume. Here is its description on OpenSea:
"AAAAAAAUUUUUGGGHHHHH gobblins goblinns GOBLINNNNNNNNns wekm ta goblintown yoo sniksnakr DEJEN RATS oooooh rats are yummmz dis a NEFTEEE O GOBBLINGS on da BLOKCHIN wat? oh. crustybutt da goblinking say GEE EMMM DEDJEN RUTS an queenie saay HLLO SWEATIES ok dats all byeby"
Crypto investors have a penchant for self-deprecating memes and doomposting about cyclical crashes, so this all tracks. The art for Goblintown.wtf is also a cut above what most NFT projects bring to the table—leading some to speculate, with essentially no evidence, that noted NFT fan Mike Judge is behind it, for some reason (the Goblintown.wtf account also retweeted some of this speculation)—and it has a well-designed website. There's also a lot of piss-related memes. It's very up-front about what's going on. "No roadmap. No Discord. No utility," its website states.
Crypto may well be in Goblin Town, to the glee of its biggest critics, but investors in the highly volatile and speculative realm of crypto were never not in goblin mode.