‘Potatoz’ Props Up 9GAG NFT Sales Volumes to Start 2023

After a rocky year in 2022, the sales of popular NFT projects have begun to gain traction, with sixth-month-old ‘The Potatoz’ taking the top spot over a 24-hour period on OpenSea

article-image

Source: OpenSea

share

The new year has begun to shake up the leaderboard for major NFT projects, with six-month-old “The Potatoz” surging to the top overnight across some of the industry’s leading marketplaces.

After surviving a choppy debut in June following an overdone digital assets market, Potatoz is proving resilient despite declining interest in the sector. As a collection of 9,999 “utility-enabled” profile pictures (PFPs), its NFTs feature rarity-powered traits inspired by internet memes and pop culture.

Daily sales volumes recorded over a 24-hour period for the project are up 136% to 800 ETH ($14,545,11) on both OpenSea and Rarible — overtaking the volume for Yuga Labs’ Bored Ape Yacht Club collection by a margin of more than 25%.

Potatoz, with a floor price beginning at 2.38 ETH ($4,327), represents a fraction of the total cost to purchase a Bored Ape, whose initial entry price starts anywhere between 73.7 to 81.5 ETH ($133,269 to $148,178).

Glancing across an aggregate of existing marketplaces, Potatoz has now climbed to third place this week, just behind Bored Apes and Larva Labs’ Crypto Punks, CoinMarketCap data show.

All three assets are in the PFP category, which sprung up in popularity amid a speculative bubble that began in early 2021 before collapsing a year later. In Potatoz case, the NFTs provide access to Memeland, a web3-focused venture studio, with high-profile advisors and backers, including Gary Vee, Adrian Cheng, Kevin Rose and Tim Ferris.

The art/collectibles segment of NFTs has served as a powerful onboarding mechanism for the broader crypto industry in recent years, crypto exchange Coinbase wrote in a recent report.

“Importantly, this use case for NFTs significantly lowered the barriers to entry for creators,” the exchange wrote in December. “On OpenSea alone, creators have earned over $1 billion in aggregate royalties in 2022.”

Coming closely behind Potatoz and Bored Apes on OpenSea and Rarible, sits Savage Nation, a project spun up in late December centered around 10 unique fighters from the dystopian metaverse of Arcadia.

Peering across a seven-day period from Dec. 28 through to Jan. 4, CryptoPunks remains a dominant collection and has more than doubled the sales volume of Bored Apes across most marketplaces.

Those projects are followed by Yuga Labs’ Otherdeed for Otherside and Mutant Ape Yacht Club collections in third and fourth place respectively, while Pudgy Penguins come in fifth on the leaderboard.

Potatoz, meanwhile, has begun its ascent over the same period — slotting in at eighth place across most of the industry’s leading marketplaces.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg

Research

The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.

article-image

Plus, a dive into crypto’s ever-expanding unicorn club

article-image

Also, tokenization continues to grab headlines and one bitcoin miner stock soars Tuesday after inking a big deal

article-image

Fifteen million daily failed transactions disappeared from Solana

article-image

FTX debtors will pay the IRS $200M, with an outstanding lower priority claim of $685M

article-image

I’ve come to the realization that more attention is needed to create and sculpt the digital spaces where we live

article-image

The NYSE went down yesterday after a glitch caused a string of erroneous trades. Does DeFi fix this?