What is the Potatoz NFT collection?
Data Source: Footprint Analytics — Potatoz NFT Collection
Launched on July 20, 2022, Potatoz is a free collection of 9,999 PFP NFTs minted on Ethereum. The collection is an extension of Memeland, a meta-universe project created by the Hong Kong-based social media site 9GAG.
About Potatoz NFT
Potatoz’s website is relatively simple and vague on details. The NFT collection currently displays moving pixel art — “potato sprouts” — but will eventually evolve into unique potato-style characters.
Potatoz is officially endorsed by Memeland, the NFT project launched by 9GAG, which was founded in 2008 and has a global audience of 200 million people on its website, app and social media sites such as Twitter. In addition, according to the Memeland website, Gary Vaynerchuk and Kevin Roose, founders of well-known NFT collectibles “VeeFriends” and “Moonbirds” are both involved in the project.
As a result, the Potatoz project was a force to be reckoned with since its release to July 31. The floor price of the series exceeded 1.25 ETH, a 123% increase. As of September 21, the floor price remains at around 1 ETH.
Potatoz Price
Potatoz introduces additional incentives for those looking for long-term returns. On July 30, it announced its NFT staking feature, which enables players to earn rewards for staking Potatoz NFTs. Additionally, on August 5th, Potatoz’s “ grow-to-win” website went live, through which users can link their wallets and sell Potatoz NFTs. Once again, the floor price of Potatoz was pushed up to an all-time high of 1.51 ETH on August 5, which has increased by 170 times compared to the initial minting floor price.
However, the series also experienced a 2-day drop below the 0 ETH floor after no sustained incentives during this period. However, with a steady amount of users, it quickly returned to a stable floor price of 1 ETH.
Over the past 30 days, users have been trading Potatoz NFTs at 1 to 2 ETH.
Potatoz Trading Volume
The project’s trading volume peaked only three days after launch and on July 30 when the NFT staking feature was announced. The rest of the time, like many NFT projects, saw overall sales rise and fall, with daily trading volumes between $100,000 and $200,000.
Summary
While it has a stable floor price, Potatoz still struggles to maintain sales volume without continuous marketing. All in all, this project is still in its early stages.
This piece is contributed by Footprint Analytics community.
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