The sheer variety of NFT projects and NFT collections has been revolutionary. One of the significant projects which have been making a lot of noise in the web3 space recently is the memeland NFT collection. The graphical representation of Memelands shows what they offer, such as treasure islands, broken seas, sea monsters, pirate crews, a Treasure Island, and particularly, memes. Each element in memelands appears in the shape of trendy and visually appealing images.

However, the memeland is more than just a cool JPEG file and brings the potatoz NFT into the web3 domain. What are potatoz? You can think of them as the predecessors to the planned project ‘Memeland Captains.’ Why are people worried about memeland and potatoz? The following discussion will try to offer some answers to these questions with a detailed guide on potatoz non-fungible token collection.

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Why Are You Interested in Potatoz?

The interest in new NFT projects is valid to a certain extent as they are generally associated with promising value. However, potatoz memeland is something different, especially based on practical performance. The non-fungible token was minted in July 2022 on the Ethereum blockchain and has become one of the most-traded NFT collections. The total trading volume for potatoz non-fungible token collection surpassed $15 million as of August 2022. The meteoric growth of Potatoz strengthens the assumptions about the collection, making a significant influence on the web3 space. 

Where are the Roots of Potatoz?

Before you try to find out “what is potatoz NFT,” you must have a clear impression of its roots, i.e., the place where it comes from. The actual ground where the potatoz found their roots is Memeland. Have you heard of 9GAG? You must have come across their posts on Twitter, Facebook, Instagram, or other social media channels. The Hong Kong-based social media startup has almost 58 million followers on Instagram and has planned on introducing Memeland as their web3 ecosystem. 

9GAG has envisioned Memeland as a metaverse with the facility of participation through ownership of NFTs. While potatoz is an obvious candidate, the other NFTs providing entry to memeland include ‘YOU THE REAL MVP’ and the planned ‘Memeland Captains’ collection. The vision behind Memeland can offer a valid rationale for developing projects like Potatoz collection and its potential growth. Let us take a look at the two other NFT collections planned with Potatoz in the Memeland metaverse. 

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Memeland Captains

Memeland Captains is the primary NFT collection for the Memeland metaverse. The Memeland Captains include a total of 9999 utility-based NFTs. Rather than holding on to Memeland Captains in your wallet like lonely NFTs, you can extract value from them. Each Memeland NFT or “Captain” would help you unlock different utilities and specific benefits. 

The distinct benefits of the Memeland PFPs include membership in a private club, i.e., Memeland, alongside exclusive access to the marketplace for NFT creators. Furthermore, Memeland Captains collection serves as the ticket for entering the new 9GAG metaverse. As the predecessors of The Potatoz, you can also explore many other functionalities with Memeland Captains. Starting from In Real Life or IRL events to upcoming 9GAG projects and airdrops, Memeland Captains have a lot in store for the 9GAG metaverse users. 

  • Distribution of Memeland Captains

The discussion on Memeland NFT collections would also draw attention to the approach followed for distributing the PFP NFTs. The distribution mechanism for PFP NFTs for Memeland can help in obtaining a clearer impression of the background for Potatoz. First of all, you must note that distribution is extremely flexible with Memeland Captains PFP collection. On top of it, Memeland does not have a specific roadmap and follows a dynamic plan. 

As of now, the launch of Memeland Captains is under wraps, and existing plans suggest the distribution of 9,999 NFTs. According to the existing plan of Memeland, the project would allocate 6,900 NFTs to 9GAG and partners allowlist winners. The collection would be distributed around 3000 NFTs to the public allowlist raffle winners. The remaining 99 NFTs would go to the Memeland Treasury for facilitating future collaborations, marketing, hiring and other activities.   

9GAG has created an interesting potatoz memeland equation with potatoz as an integral part of the emerging memeland metaverse. 9GAG has entered into a collaboration with Hong Kong Times Square to introduce the first digital playground based in Memeland. The memeland PFP owners enjoy complete commercial art rights over their assets. 

Another important highlight in the distribution of memeland PFP tokens would refer to the rights of memeland itself. It would receive around 6.9% of secondary sales of the PFPs, which would serve useful for purchasing private jets, Lamborghinis and yachts. Well, the team behind Memeland does have some unparalleled sense of humor when they claim such uses for their money. On the contrary, memeland plans on using the money from secondary sales of Memeland Captains and other NFT collections for hiring full-time team members. It also plans on using the money to deliver more value to the community and provide funding for new operations. 

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The Memeland community has not only come up with Potatoz NFT as a tool for entering their metaverse but also with a rewarding collection. With the “YOU THE REAL MVP” collection, Memeland aims to serve an innovative approach for expressing gratitude and offering rewards to the passionate team and community. 

The “YOU THE REAL MVP” is a limited group of around 420 notable MVPs from the Memeland ecosystem. You can define MVPs as a token of premium membership within the world of Memeland. Interestingly, the spirit behind “YOU THE REAL MVP” comes from the famous and inspiring speech by professional NBA player Kevin Durant. 

According to Memeland’s website, YOU THE REAL MVP is the first collection offered on the metaverse space. How is the Potatoz non-fungible token collection related to YOU THE REAL MVP? The answer points to their role in facilitating access to Memeland. The MVP points at entitled access for premium membership within the Memeland landscape. 

As the website claims, it serves as a productive approach for rewarding the community behind memeland. What can you gain from the “YOU THE REAL MVP” collection? A memeland MVP could earn two free mints for the Memeland Captains NFTs, alongside eligibility for the allowlist of all the future of memeland NFT and 9GAG NFT collections. The collection also guarantees the facility of MVP role and MVP lounge in Discord. You can also come across many other surprises of similar nature with the “YOU THE REAL MVP” collection in the future. 

  • Distribution of YOU THE REAL MVP

Your search for a detailed explanation about “what is potatoz NFT” would also take you towards discussions on the distribution of MVP membership benefits. The allocation of YOU THE REAL MVP involves 300 MVPs distributed through a blind auction. 100 MVPs are rewarded to the contributors, such as investors, moderators, advisors, and teammates. Finally, the reserve amount of 20 MVPs makes up the total collection. 

In addition to the distribution details, you need to take note of many other critical factors of the MVP collection. The blind auction ends within 48 hours and does not feature any mint facility, thereby calling for safety against scams. The winners would receive airdrops of MVP, and you would not find any links or collections for MVPs on the different NFT marketplaces. With the blind auction, the reserve price for the MVPs amounted to almost 0.69 ETH. The top 300 bids scored the winning amount, with only one bid allowed for each account. 

The Memeland community deployed a blind auction for “YOU THE REAL MVP” to help the community itself determine the price. As the final price reached around 5.3 ETH, the collection asked people to send the same amount to their wallets. 

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Potatoz NFT

The main point of attention in discussions regarding the Memeland NFT collection would be Potatoz. It is a new free-to-mint NFT collection that offers access to the memeland ecosystem. Most important of all, the NFT collection can ensure seamless access to the Memeland metaverse of 9GAG, a popular social media website. 9GAG has garnered many followers for offering unique content in the form of user-generated memes from different users worldwide. The varied user base of 9GAG includes cosplayers, gamers, manga enthusiasts, and many young people from different parts of the world. 

9GAG introduced the free mint for Potatoz NFT on July 20, 2022. In the initial stage, the collection featured “potato sprouts” made of pixel art, which would gradually change into unique potato-like figures. The NFT collection stores metadata on an IPFS or InterPlanetary File System without the conventional on-chain storage. 

However, the IPFS storage creates prominent trouble for visually distinctive NFT collections due to the isolated storage of metadata and smart contracts. Apart from the unprecedented release of the new non-fungible token collection, Memeland has entered into a partnership with an NFT creator studio, Refinable. The collaboration with Refinable helped Memeland conduct an eight-week art display at Time Square in Hong Kong from July 30.  

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Diving Deeper into Potatoz Basics

The introduction of a new NFT collection like Potatoz is one of the important highlights in the web3 ecosystem. With the launch of Potatoz collection, the floor price has witnessed a formidable amount of growth. The collection has registered secondary marketplace transactions amounting to more than 9,700 ETH. If you own an MVP from the YOU THE REAL MVP collection, then you can find eligibility for all the future projects of 9GAG and Memeland. It would also entitle users to three free mint spots for Potatoz through airdrops. 

In general, potato is a common starchy tuber almost everyone loves to add to their diet. However, Potatoz is a bit different- they are a utility-based NFT collection. The primary use of Potatoz is to work as entry tickets for the Memeland ecosystem designed by 9GAG. In addition, Potatoz also allows buyers to participate in the ‘stake-to-win’ mechanism. Well, potatoes have to grow, don’t they? The new ‘stake-to-win’ mechanism, also referred to as ‘GROW-TO-WIN,’ offers the same benefits of staking with a unique twist. 

When you try staking the Potatoz, you can find an instant evolution to the first stage. The “Growing” function in the memeland ecosystem is more or less familiar to the ‘Nesting’ feature in the Moonbirds NFT project. Another important highlight about potatoz reflects on their possible relations with Memelist, MVP, and the $MEME governance token. What purpose does Potatoz serve in the memeland ecosystem? It has some additional utilities integrated within it for a better user experience. 

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Utility of Potatoz NFT Collection

The discussion about Potatoz would be incomplete without referring to their utility. The development team has incorporated a ‘Grow-to-win’ mechanism, just like a staking mechanism, in Potatoz. You can use Potatoz NFT for something more than accessing the memeland ecosystem. Growing your potatoz could help in generating unique artwork, which can guarantee promising financial returns. 

The ‘Growing’ function on Potatoz was enabled recently in August alongside the launch of the ‘grow-to-win’ website. Users can stake their potatoz and earn rewards with the new mechanism alongside expanding the memeland ecosystem. Most important of all, Potatoz focuses profoundly on community ownership of the token to ensure future benefits. Therefore, many traders do not opt for exchanging potatoz to garner short-term profits. 

Who Are Involved in Potatoz Collection?

The interest in Potatoz memeland non-fungible token collection has been growing by huge margins in recent times. Do you know why memeland or potatoz gained so much popularity within little time? The answer points to the team behind the vision for potatoz, i.e., 9GAG. It is a popular social media website with almost 4 million daily visitors and over 150 million monthly visitors across different platforms. 

With a formidable social media giant at the helm of affairs, Potatoz Collection garnered credibility within no time. Furthermore, Memeland has a massive user base on Twitter as well as on Instagram. The project also has many prominent investors and advisors with many popular names, such as Gary Vee and many other startups.

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Bottom Line

The planned web3 ecosystem of 9GAG has the potential to deliver a shared playground for accessing many services and exclusive offerings. From the surface, the Potatoz non-fungible token appears as a regular NFT collection tailored for utility within a game’s environment. However, it has been developed with a ‘Grow-to-Win’ mechanism, similar to a staking approach.

Therefore, it is only a matter of time before potatoz grows into some unique artwork. Can potatoz set the stage for dynamic NFTs in the 9GAG memetaverse ecosystem? Because potatoz came to the market in July and announced the staking mechanism in August, they have a long way to go. Stay updated with the latest news on memeland and potatoz to learn more.

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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!