FinTech news in NFT market category

The growth in January marked a stark difference from the trend of the past few months, — October saw trading volumes dip to a low of $662 million — but in November, the market halted the downward trend to stay at $662 million, per the report. While Ethereum accounts for the lion share of trading volumes, with more than 78% of all trades on the blockchain, Polygon had the biggest influx of traders in January, the report showed. Trading volumes rose for two months straight, with January scoring the highest volumes since June last year, according to the Dapp Industry Report: January 2023. A number of blockchains allow traders to buy and sell NFTs, but Ethereum has held the leading position with over $36 billion in all-time sales, data from NFT aggregator CryptoSlam showed.

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.