Goblintown’s New Token: A $GOB Attempt at Meme Coin Sustainability

Ethereum NFT collection Goblintown, operated by Truth Arts subsidiary Exploding Goblin LLC, has unveiled “$GOB”, its official meme coin on the Solana blockchain.

The project’s co-founder, Alex Taub, stated the launch was inspired by six months of rethinking meme coin token design, aiming to create something that “works” rather than just being another fleeting meme.

“We’re attempting to make it really attractive… basically doing the opposite of every other NFT project,” stated Taub, implying a focus on token accumulation over quick exits.

Designed for Longevity: Token Vesting, Taxes, and Anti-Sniper Tactics

$GOB introduces a significant departure from typical meme coin distribution:

1. Targeted Vesting: Tokens are allocated based on individual NFT holdings within the Truth Arts ecosystem (parent company for Goblintown) and vest specifically to that NFT, not just the holder’s wallet on a snapshot day.
2. Extended Vesting Schedule: Vesting occurs gradually, weekly over a 24-month period for standard holders (compared to fully vested day-one allocations common in many launches). Company/team have a longer, steeper 30-month vesting. This replaces the “all-in, all-out” model prevalent in many early-stage token launches, aiming to discourage quick flipping and align incentives.
3. Deliberately Low Launch Market Cap: The launch aims for a smaller market cap and tighter circulating supply, moving away from the goal of massive initial valuation which can misalign community and project interests.
4. Anti-Sniper Measures: The launch employed stealth tactics and targeted the existing NFT community first, limiting initial exposure outside this pre-existing base. While not foolproof, this approach combined with the initial supply limitation is intended to mitigate sniper bot activity common on Solana.
5. Liquidity Mechanism: A 2.5% token tax on all transactions is implemented. This doesn’t burn tokens outright but redirects the collected fees towards supporting the token ecosystem: funding operations, marketing initiatives, and buy-back/burn mechanisms to maintain liquidity and create deflationary pressure. The revenue generated is reinvested back into the token’s future.

Breaking the Meme Coin Cycle: Addressing Project Weaknesses

“People have done vesting before, people have done token taxes before,” conceded Taub. “They just haven’t ever been all put together, specifically for a meme coin for an NFT project.” The core goal is to create a more balanced, sustainable token designed to endure beyond the hype typical of many traditional meme coins.

According to Taub, typical launch mechanics foster “misaligned incentives,” where holders can cash out quickly, leading some projects to inadvertently build disincentives over the token’s lifespan. The $GOB model attempts to counter this by encouraging long-term holding.

“We just think this [token design] at least has potential,” noted Taub. “It could die because nobody cares about it; it’s an attention game. But at least we’re giving it a punter’s chance.”

Goblintown: From NFT Obscurity to Solana Coin Launch

Goblintown, known for its ambitious marketing campaigns and niche community (memes included), first gained traction in 2022 during an NFT market downturn. Its initial trajectory from a combative free mint proved influential.

Now, leveraging its established brand, $GOB aims to blend absurdity and meme potential with a more deliberate, potentially sustainable token structure. Launch promotion includes unusual tactics like a dedicated hotline (“Telescram”) and a TikTok filter.

“We’ll use some of those tactics once more,” revealed Taub.