{"id":11296,"date":"2022-06-02T19:12:15","date_gmt":"2022-06-02T19:12:15","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/art\/people-are-creating-absurd-nfts-to-try-and-fix-the-market\/"},"modified":"2022-06-02T19:12:19","modified_gmt":"2022-06-02T19:12:19","slug":"people-are-creating-absurd-nfts-to-try-and-fix-the-market","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/art\/people-are-creating-absurd-nfts-to-try-and-fix-the-market\/","title":{"rendered":"People Are Creating Absurd NFTs to Try and Fix the Market"},"content":{"rendered":"
NFTs are down. Crypto is down. So what has the Web3 community been up to? Meme-ing, apparently.<\/p>\n
In the NFT space alone, we\u2019ve seen a host of absurd \u2014 and often humorous \u2014 projects climb up the ranks on OpenSea. Most notable is the quick rise of Goblintown to the top of OpenSea\u2019s charts. Named after a Web3 synonym for \u2018bear market,\u2019 beneath the project\u2019s crass exterior lies a very earnest plea to the community: we know that times are tough, so we hope you\u2019ll stick with us and build.<\/p>\n
To its credit, the NFT community at large seems to have heeded its call. Today, the project sees floor prices of 7 ETH on OpenSea and has amassed 22,000 ETH in total sales volume. It\u2019s not the only project of its kind generating buzz on OpenSea, either.<\/p>\n
Just this past week another strange project called \u201cBuy this NFT or I\u2019ll do it\u201d breached the top of OpenSea\u2019s charts, following in Goblintown\u2019s footsteps. The 1,000-piece collection of cartoons depicts NFT community members threatening to blow their genitals off unless their NFT-related demands are met.<\/p>\n
These range from addressing problems in the NFT sphere like high mint prices, high gas prices, thefts, lack of communication from project leads, and the drop in Ethereum\u2019s value since its $4,000 peak. However, the most direct demand these cartoons are making is in the collection\u2019s name: buy this NFT.<\/p>\n
This is all part of a community-wide initiative to boost morale and maintain activity in the market \u2014 which Goblintown kickstarted. So far, it seems to be working \u2014 the collection generated 500 ETH in trade volume within 24 hours of its free mint. <\/p>\n
But there\u2019s a catch.<\/p>\n
Despite the short-term success of the project, as well as how it encouraged the Goblintown team to make an equally puerile collection in response, the \u201cI\u2019ll do it\u201d NFT collection has a problem. Ironically, despite its intended function as a lighthearted callout of the NFT community\u2019s faults, it still manages to represent one of the space\u2019s most talked-about issues.<\/p>\n
These cartoons, despite their intentional juvenilia, are guilty of the same racial stereotyping that pop culture at large has desperately tried to move on from since the 2000s. One quick glance at the collection shows that the variable for each cartoon\u2019s skin color and genital size are correlated. When stereotypes are baked into the very code of a project, it becomes hard for anyone but <\/em>degens to hop on board and support it. But then again, the \u201cI\u2019ll do it\u201d NFT\u2019s creators do<\/em> state this project is marketed towards degens in its Twitter bio.<\/a><\/p>\n Despite the project\u2019s intentions, we need to do better. Thankfully, Goblintown has already shown us that you absolutely can <\/em>be vulgar, absurd, and crass without playing into stereotypes. The long-term growth of the NFT community is contingent on that being the norm. If we\u2019re to get through this bear market, then we\u2019ll need to ensure that when new people enter the space, they feel welcome regardless of their background.<\/p>\n<\/p><\/div>\n