Avalanche-Based NFT Marketplace Joepegs Closes $5 Million Seed Round Led by FTX Ventures and Avalanche Foundation

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. The Joepegs team said, "The funding from FTX Ventures was completed in June, and have since been transferred out of FTX prior to recent bankruptcy events." 

Joepegs launched in May of this year and includes an in-house production unit, Joe Studios, as well as an NFT Launchpad. Its co-founder 0xMurloc founded and remain involved in the operations of Trader Joe, a decentralized exchange on Avalanche.