FinTech news in Avalanche category

Amazon Web Services (AWS) has partnered with Ava Labs, the company building out layer-1 blockchain Avalanche, to help scale blockchain adoption across enterprises, institutions and governments, the two firms exclusively told journalist. Ava Labs has also become a member of the AWS Partner Network (APN), giving the firm access to deploy offerings on AWS with more than 100,000 partners in over 150 countries, Wright said. The two companies are also collaborating on events for entrepreneurs and developers through Avalanche Summit, Avalanche Creates and hackathons to help builders build on the blockchain. Ava Labs plans to add its Subnet deployment as a managed service to the AWS marketplace, so both individuals and institutions can launch their own custom Subnets easily.

Joepegs, an NFT marketplace on the Avalanche blockchain, raised $5 million in a seed round led by now-defunct FTX Ventures and the Avalanche Foundation, its co-founders who go by the pseudonyms Cryptofish and 0xMurloc, exclusively told journalist. The marketplace launched in May and has grown rapidly to the largest NFT marketplace on Avalanche with over $3.4 million in secondary NFT sales and 12,000 users. Earlier this year, Avalanche dove further into the NFT space after partnering with the largest NFT marketplace, OpenSea, which now operates on the blockchain alongside other platforms like Joepegs and Kalao. It also has an in-house production unit, Joe Studios, as well as an NFT Launchpad, which has on boarded over 50 projects to the Avalanche ecosystem, the company said.

OpenSea, the world’s largest NFT marketplace, will operate on the blockchain alongside existing platforms like NFTrade and other Avalanche-focused NFT marketplaces, including Joepegs and Kalao. Even though the NFT market has slowed down in recent months, over the past 30 days, Avalanche’s NFT sales volume rose 38.52% to $2.1 million in sales, per CryptoSlam data. With Avalanche, OpenSea users will be able to settle NFT transactions in under a second with low transaction fees, the company said. With about $404.6 million in sales, Avalanche is the seventh-largest blockchain by NFT sales volume, CryptoSlam data shows.