‘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.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

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

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Flashnote Template Presentation (2).jpg

Research

With the recent election, it’s clear that there will be a meaningful shift in crypto regulations and legislation. Trump is likely as pro-crypto as a president can be. He launched (multiple) of his own NFT collections and is launching an Aave wrapper called World Liberty Fi. He has also spoken out and mentioned that he wants to make the United States "the crypto capital of the planet" and transform it into the "Bitcoin superpower of the world". He proposed creating a strategic national Bitcoin stockpile alongside support from Senator Cynthia Lummis, promising to retain 100% of all Bitcoin held by the U.S. government. More importantly, we’re likely to see deregulation across the board in a lot of industries, with crypto being one of them - as Trump has committed to keeping the crypto market largely unregulated. Crypto, DeFi in particular, has historically been knee-capped by overreaching and hostile governmental agencies and regulation by enforcement, as evidenced by the plethora of Wells notices and lawsuits over the past few years. With Donald Trump winning the presidency, Republicans taking control of the Senate, and being on the verge of securing the House, we think it’s likely that crypto realizes positive regulatory clarity. Below, you can find our analysts’ takes:

article-image

Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times

article-image

Of course, a lot has happened since the 600+ survey respondents shared their thoughts between Aug. 15 and Oct. 1

article-image

AI’s future shouldn’t be decided by a handful of tech giants

article-image

A look at software wallet Exodus may show how an SEC shakeup could have a real impact on industry companies

article-image

Co-chairing Trump’s transition team to help fill administration positions is Cantor Fitzgerald CEO Howard Lutnick

article-image

Reflect is a delta-neutral currency protocol that lets tokens accrue yield without touching the banking system