The Potatoz project has become a real sensation in the NFT world. The free mint of these tokens began in June 2022, and in less than 69 days the collection was in the top 150 collections on OpenSea. Even though the Potatoz NFT trading price dropped more than 90% some time after the launch, it still firmly held the 8th spot among the most traded collections of the week with a total trading volume of $2.8 million.
Lately, interest in The Potatoz has been reaching a new level, which is especially noticeable by the social media hype. NFTs are the main currency in the popular Memeland metaverse where participants can create their own avatars, use tokens for their own needs, and interact within a close-knit community. What’s in store for this NFT token collection and is it worth investing in? Read on for answers to these questions and more.
The Potatoz Official Links
- Official website https://www.memeland.com/potatoz
- Discord @memeland – over 250k members,
- Twitter @nftmemeIand – over 24k followers,
- Instagram @memeland – over 23k subscribers.
What is The Potatoz?
The Potatoz NFT is a PFP collection of 9,999 animated pixel tokens of the ERC-721 standard on the Ethereum blockchain. It was created according to the free-to-mint concept. The Potatoz was developed by the authoritative and popular online platform 9GAG based in Hong Kong.
At the very beginning this set was about sprouts made in pixel-art style, from which then were to grow characteristic figures resembling real potatoes.
Namely, the developers have provided 6 stages of development of the potato token:
- Type. Potato seed in the pixel mud.
- Mutation. Germination and appearance of stems.
- Element. It occurs 14 days after the start of growing the token. Stems are transformed into unique elements.
- Size. After the next 14 days, the token begins to gain muscle mass.
- The token is becoming more and more clear-cut.
- Your Potatoz NFT is ready!
NFT metadata is stored in the so-called InterPlanetary File System rather than completely on-chain.
Each token is a portal to Memeland. The collection is claimed to be the first life form in the Memeland metaverse:
The first form of life in the lands of Memedend
9999 PFP items , all traits are inspired by internet memes and pop culture.
Multi-Stage reveal (0-5 stages) is currently at Stage 5 pic.twitter.com/0cRcCLGS7A
— Nemesiska 🐸🛸(💙,🧡) (@_Nemesiska_) January 1, 2023
On the wave of the initial hype, the project team announced that owners of the collection would be able to use the staking feature, which immediately increased trading volume by 60%.
The Potatoz in numbers
- Collection of 9,999 NFTs was launched on July 20, 2022.
- During minting, the number of maximum available tokens for one wallet was limited to one.
- On the wave of the initial hype, the project team announced that owners of the collection would be able to use the steaming feature, which immediately increased trading volume by 60%.
- The total volume of secondary sales exceeded 28k ETH (over $44M according to the official website).
- Floor price is 2.29 ETH (about $3.5k).
- Average sales range from 2.18 ETH to 2.4 ETH.
- The most expensive #471 was sold on July 24, 2022 for 16 ETH ($26k at the time of sale).
- Total 3,279 unique holders (33%).
- Only about 0.9% of the collection (88 pieces out of 9,999) are for sale, among them the offers range from 2.29 ETH to 8 ETH. This shows that almost all holders see the project as a great investment prospect and are not in a hurry to part with their assets at a lower price.
Data (including exchange rates) are given at the time of publication (March 9, 2023)
Who created The Potatoz?
The author of The Potatoz collection is 9GAG, a brand headquartered in Hong Kong. The company also has its own office in Mountain View, California. It is a popular platform that allows users to distribute and share a variety of content with each other. The 9GAG project was founded back in 2008 by prominent entrepreneurs:
- Ray Chan @raychan, CEO;
- Chris Chan;
- Derek Chan @doublechinderek;
- Marco Fung;
- Brian Yu @brianyu28.
Originally, the idea of the authors was to develop an alternative version of the messenger for the exchange of electronic messages. Users of the 9GAG platform could send funny pictures and videos to each other. On average, the 9GAG site has more than four million daily visitors, and the startup already has 58 million followers on Instagram. To date, 9GAG has received extensive support from major investors:
- First Round Capital @firstround;
- Freestyle Capital @freestyle;
- Greycroft Partners @greycroftvc;
- True Ventures @trueventures and others.
Why @memeland is going to be one of the biggest NFT drop in 2022!
— Jordan_jaames (@Gungaap) May 2, 2022
9GAG has entered the NFT space by creating the Memeland metaverse in the spring of 2022. It is a kind of blockchain-based ecosystem that allows participants to create and share digital art objects (such as photos, videos, and GIFs).
Memeland users can subscribe to each other, like and comment on the works of their favorite authors, that is, in fact, the same mechanism is provided here as in usual social networks. They also get the opportunity to access private clubs, participate in IRL events and drops, etc. 9GAG’s diverse user base includes many passionate people like cosplayers, gamers, and manga fans from all over the world.
In 2021, 9GAG opened the world’s first meme museum, featuring images, 3D objects and videos as exhibits.
📌 In 2021 opened their own world's first «Museum of memes” (where there were images, three-dimensional objects, videos)
The exhibition was temporary pic.twitter.com/UGHygGrpgc
— Nemesiska 🐸🛸(💙,🧡) (@_Nemesiska_) January 1, 2023
9GAG Memeland, which stands a good chance of being called a blue chip in the future, has brought in some of the Web3 industry’s leading experts as investors and advisors, including:
- Kevma from Hypebeast @kevma,
- Gary Vee @garyvee,
- Kevin Rose @kevinrose,
- Adrian Cheng @AdrianCheng
- and many others.
The peeps behind Memeland…just wow, check it out! @garyvee from Vee Friends @kevinrose from Moonbirds @kevma from Hypebeast just to name a few… https://t.co/hg7k2Q9zus
— Cardboard Richard 💀🌼 (@cardboardrich) April 27, 2022
Why is The Potatoz popular?
The Potatoz collection is still in demand among NFT enthusiasts. There are several reasons for this:
- It’s easy. Users can easily exchange tokens for other assets on specialized NFT platforms. You can also create your own auction and sell your digital potatoes there profitably.
- Opportunity to get additional benefits by staking tokens, participating in draws, IRL events and drops.
- High level of security. The Potatoz NFTs in users’ wallets are securely protected from unauthorized access and hacker attacks.
- Connections with big brands. For example, representatives of the Memeland ecosystem formed a business relationship with Refinable, the studio that creates NFT. And the collaboration with Refinable helped Memeland hold an eight-week art exhibition at Time Square in Hong Kong.
☠️Ahoy, Mateys! Calling all seasoned captains🦜
This Summer, join us at the @9GAG @Memeland Exhibition hosted at Times Square HK! Sponsored by Refinable, this IRL experience will showcase some of the hottest NFTs to date, as well as a series of daring games and prizes to be won! pic.twitter.com/TNKU3E19Vo
— Refinable (@refinableapp) July 22, 2022
- The support of prominent representatives of the NFT field, such as Gary Vee and Kevin Rose, and it creates an aura of reliability and promise around the project.
- Membership/participation in the promising Memeland metaverse.
The Potatoz Idea
The key idea of The Potatoz project is the “grow-to-win” concept. It implies an increase in the utility of NFTs over time, and, consequently, in their value. It employs a staking mechanism, where the user keeps his tokens and in return receives draw tickets promising various bonuses (this system is very similar to nesting in Moonbirds).
We are deciding the name of our soon-to-launch “stake to win” feature. Current choice is “planting”.
We are open to more ideas. If in the end we pick your suggestion, we will send you one Potatoz (floor price: 0.79Ξ) so you can join the @MEMELAND fam. 🌱
1, 2, 3, GO! pic.twitter.com/vdhwyxSKdj
— Memeland 🏴☠️ (@Memeland) July 23, 2022
Gradually, the team is adding new features that benefit token holders:
🔜 We are launching the "TRANSFER POTATOZ" feature for Potatoz that are growing (staked) soon.
🎟️ When you use this feature to transfer ALL your Potatoz from one wallet to another wallet, you will not lose any tickets.
🏴☠️ You can do this until the QUESTING starts. pic.twitter.com/I1fUO5rOLi
— Memeland 🏴☠️ (@Memeland) January 13, 2023
In this case, characteristically, NFT holders don’t need to bother themselves with applying for various promotions held by the project organizers. Those who grow their Potatoz NFTs automatically become participants in all drawings. Also keep in mind that a Potatoz token cannot be put up for sale if it is still in a state of staking.
The Potatoz Roadmap
The Potatoz has no official roadmap, neither does 9GAG. The authors compare their project to the sea, and there is no road in the sea, hence there should be no roadmap. But they have a guiding star, that is, their mission. This mission is to empower digital art creators by bringing together the Web2 and Web3 communities.
It is worth noting that 9GAG developers in general are not very generous with promises, but always more than deliver what they promise. Their 14-year track record of successfully building community and social platforms is proof of that.
The Potatoz Ecosystem
The Potatoz collection is part of the Memeland metaverse, so it has no ecosystem of its own. It is a part of Memeland along with other projects.
The Captainz is a collection of 9,999 PFP tokens endowed with useful properties. The Captainz are the companions of The Potatoz and, according to the legend, they sail the Broken Sea in search of the legendary treasure. When creating The Captainz the developers were inspired by pirate themes, internet memes and pop culture.
The Memeland Captainz is the very first NFT collection of the Memeland metaverse. The Captainz have exclusive rights and benefits. They control the DAO Memeland, and may also gain access to the Treasure Islandz metaverse in the future.
You The Real MVP
You The Real MVP is an NFT collection of 420 golden treasure tokens. MVPs offer the opportunity to join a community of professionals, entrepreneurs, and creatives willing to share invaluable information and experience.
MVP tokens also guarantee private access to the MVP lounge in the Discord channel, the right to participate in NFT drops and IRL events and other privileges.
$MEME is the governance token of the Memeland metaverse. It also serves as in-game currency that can be used for purchases and as a staking object that generates passive income. You can also earn $MEME by participating in various in-game Memeland events.
How much do The Potatoz NFTs cost?
The Potatoz collection started on July 20, 2022. At the time of minting, the number of maximum available tokens per wallet was limited to one. On the wave of the initial hype, the project team announced that owners of the collection would be able to use the staking feature, which immediately increased the volume of trades by 60%. And how has the project evolved since then in terms of pricing?
To visualize the price dynamics, we made a slice of the average price for 1 NFT:
- in September 2022: 1.3 ETH,
- in December 2022: 2.3 ETH.
Now (March 9, 2023) the minimum price is 2.29 ETH. On average, the latest sales range from 2.18 to 2.4 ETH. And the total volume of secondary sales amounted to more than 28k ETH (about $44 million at the current exchange rate).
The Most Expensive Sales of The Potatoz
The most expensive sales are led by the following NFTs from The Potatoz collection:
- #471 was sold on July 24, 2022 for 16 ETH ($26k at the time of sale),
- #6152 was sold on October 2, 2022 for 12.69 ETH ($16k at the time of sale),
- #3665 was sold on August 3, 2022 for 11.4 ETH ($19k at the time of sale),
- #1305 was sold on July 28, 2022 for 15 ETH ($19k at the time of sale).
Where to buy The Potatoz?
Currently, The Potatoz can only be purchased on the secondary market, on marketplaces such as OpenSea, X2Y2 and LooksRare.
How to buy The Potatoz?
- Remember that initially you need to connect your crypto wallet with self-storage to the marketplace of your choice.
- Next, find the official collection using the search bar on the marketplace.
- Analyze and choose the NFT you want to buy; click on it and then on the “Buy” button.
- Or you can bet on the token you like. Make sure you leave enough ETH for gas or transaction fees. If the seller approves your bid, the deal goes through.
Should you invest in The Potatoz?
Many experienced crypto investors are bullish on The Potatoz. In their choice, they are guided by the following reasons:
- Holders of the tokens can be included on the future Memeland whitelists for the next projects.
- Members of the crypto community and eminent investors are now showing increased interest in the 9GAG ecosystem.
- According to the creators, a lot of interesting things await the participants of the project ahead, in particular, the Treasure Islandz metaverse.
- Possibility of staking tokens.
- Membership in Memeland.
- High floor price (2.29 ETH), which, based on historical data, does not tend to fall significantly.
In any case, do your own in-depth analysis and research when investing in NFTs, and then make your own decision.
Opinion of NFTmetria
The Potatoz collection is one of the most interesting and promising projects in the NFT world. Owning a Potatoz NFT not only allows you to join a friendly community, but also gives you a chance to feel yourself as one of the co-founders of the Memeland metaverse. In addition, these tokens have enormous utility potential. Innovative staking system, high security level, right to participate in draws, IRL events and drops – all this attracts the attention of new crypto market participants, ensuring the growth and development of The Potatoz project.