Joepegs NFT Marketplace Announces Funding Round Co-Led By FTX Ventures

Avalanche NFT marketplace Joepegs announced a $5M seed round co-funded by FTX Ventures and Avalanche, the platform announced on Monday.

CryptoFish, the anonymous co-founder of Trader Joe (a decentralized exchange on Avalanche) and Joepegs, acknowledged the odd timing of the announcement given the controversy still unfolding around FTX.

“The funding from FTX Ventures was completed in June, and have since been transferred out of FTX prior to recent bankruptcy events,”, the founder said in a statement to TechCrunch.

CryptoFish released additional information via Twitter, including details on the funding and how the bankruptcy proceedings may impact the platform.

What does this mean if FTX is filing for bankruptcy?

• Hard to say right now, but likely the entire FTX Ventures portfolio may be sold in the liquidation process. So their shares will goto the future buyer.

We will share when we have more details in due time.
— fish 🔺 | 🌊📘 Joe V2 coming Nov 15/16 (@cryptofishx) November 14, 2022

Author Bio

Ghost

Ghost is an NFT Analyst at Lucky Trader. He has been in crypto since 2017, and entered the NFT space via NBA Top Shot in January of 2021 before minting Bored Apes and degenning into the broader market.

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