How Ethereum Based Projects Goblintown and Big Eyes Coin Are Shaking Up Perceived Value In The NFT Space In 2022

Goblintown and Big Eyes Coin are two projects directly challenging the perception of how an NFT should be valued in today’s crypto market.

The value of NFTs has caused major debate within the crypto community and wider popular culture. Why are generated images of apes and pixelated people selling for millions, and why do the purchasers not always have rights to the image itself?

Goblintown and Big Eyes Coin are asking these exact questions, doing so in unique ways that both play with the idea of what value is and how value can be placed on an NFT.

In this article we will look further into these two projects, to see what they are doing to challenge expectations within the NFT community and why they are worthy of further research.

Goblintown Tears Up The NFT Rulebook

Described by as ‘one of the strangest NFT collections the world has ever seen’, Goblintown is an NFT collection on the Ethereum blockchain that has stirred up more conversation and controversy within the crypto space than most.

Anti-establishment ideology is present in every aspect of the Goblintown project, from the design of the NFTs to the contracts they are built on. The NFTs take everything expected of a typical collection and turn it on its head, to pick apart expectations of what an NFT should be and return creativity to the space. This can be seen in several ways.

Firstly, the design of the NFT collection is intentionally gross and unappealing, defying the typical cute or retro stylings of a lot of NFT collections. The art is scribbly, with mismatched elements that create a disjointed, patchwork feeling to the NFTs. This is intentional, creating a grungy, punk aesthetic for the collection as a whole.

Punk anti-establishment sentiment can also be seen in the contract behind the NFTs, which includes mention that all Goblintown NFTs are registered under a creative commons licence. This means that owners of these NFTs are free to do whatever they please with them, which is something infrequently seen with NFT collections.

There is an appealing nihilism to the Goblintown project that makes it stand out in the market, as a project not designed to generate profit or become something bigger than itself. Instead, it simply exist as it is, love it or hate it.

Big Eyes Coin Makes Value In Experiences

Despite its cute aesthetics, Big Eyes Coin is an Ethereum blockchain project defined by its rebellion against conventions set by the cryptocurrency industry.

Big Eyes Coins NFT project, dubbed the NFT Sushi Crew, brings value to its NFTs not through rarity, but through the value of experiences and community- something almost impossible to attach a value to.

While the collection has yet to be released as of the writing of this article, it can be deduced from the Big Eyes Coin whitepaper that these NFTs will be released seasonally, and that ownership of a Sushi Crew NFT will provide owners access to exclusive Big Eyes Coin community events, including ‘NFT Exclusive IRL Event[s]’.

NFTs to offer access to more content and events’, the whitepaper further states, making these NFTs double up as a key to unique opportunities that users may otherwise not experience.

Experiences are something that cannot have a value attached to them, as they are completely subjective. With ownership of a Big Eyes Coin Sushi Crew NFT comes the opportunity to make memories with others in the community in an exclusive environment, with the associated FOMO of missing out on these events giving the NFTs a massive boost to their perceived value.

It is a simple, yet efficient way to add value to an NFT, and a way of doing so that does not rely on preselected rarity added to NFTs within a collection. Instead, the value comes from something tangible, and something that will remain valuable as long as a community exists around the Big Eyes Coin project.

The NFT Sushi Crew collection is set to unveil snippets of the collection during their second roadmap phase, ‘Leap’, with the full collection set to drop during the third, ‘Run’, phase.

To get involved with the Big Eyes Coin project, check out their presale. Purchases done in conjunction with code BIG018 will receive bonus tokens upon the completion of the presale, so be sure not to miss out!

For more information, use the links below:




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