NFTs aren’t totally dead as crypto-loving ‘Goblins’ swarm to NYC this week: ‘We’re back’
NY Post
A handful of investors claim the notoriously battered NFT sector is showing fresh signs of life after a spectacular fall – and hordes of so-called crypto “goblins” are swarming to events across New York City this week to tout their non-fungible tokens.
NFT.NYC, which began Tuesday at the Javits Center and ends Friday, has played host to more than 800 speakers and 100 events for the closely-knit investors in NFTs — pieces of collectible, authenticated digital art that has included the “Bored Ape” and “CryptoPunks” series.
Despite becoming a punchline among crypto skeptics over a major boom-and-bust in 2022, NFTs are still drawing steady interest, according to Alex Taub, co-founder of Goblintown, an NFT collection whose name refers to so-called “goblin” investors who have blown their cash on failed crypto purchases.
While Goblintown’s basic releases sell for between $500 and $1,000, rare or one-of-a-kind NFTs can go for more than six figures, according to Taub. The current lowest asking price is $492, while the most expensive sale in the last 90 days went for more than $11,000, according to NFTpricefloor.com.
“A lot of people say NFTs are dead — and in a lot of ways, most of them are,” Taub, the CEO of Truth Labs, told The Post. “But the teams that are still around and building things, there’s still a lot of value to be created.”
NFT enthusiasts are undeterred even after the high-profile implosion of convicted fraudster Sam Bankman-Fried’s FTX empire. At one point, the “floor price” for the Bored Ape Yacht Club, arguably the most popular NFT collection, rapidly collapsed by 75% from more than $400,000 in April 2022 to less than $100,000. Currently, it is hovering just above $39,000.
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