New Era on Avalanche: JOEPEGS
Recently, the popularity of non-fungible tokens (NFTs) has surged, and this trend has not gone unnoticed on Avalanche. In fact, after the New Year, Avalanche's NFT market experienced massive growth in terms of the number of users and volume. To gain insight into this growth, we will be delving into one of the most popular marketplaces on Avalanche - JOEPEGS.
Our analysis will encompass six crucial parameters that will help us understand the impact of this growth on Joepegs Marketplace.
- Sales
- Buyers and Sellers
- Volume
- NFT Prices
- Users Behavior
- Collections
Joepegs, an NFT marketplace built on the Avalanche blockchain, has successfully raised $5 million in a seed funding round. The now-defunct FTX Ventures and the Avalanche Foundation led the funding. Joepegs has established itself as a leading NFT marketplace on the Avalanche blockchain, providing a platform for users to buy and sell NFTs.
The Avalanche Foundation has recently launched an incentive program to boost the adoption and growth of its novel Subnets, a scalable solution for Web3 dApps. This initiative aims to promote the usage of Subnets by providing incentives to developers and users who interact with them. The foundation has also launched the "Avalanche Multiverse" program, which includes collaborations with notable entities such as DeFi Kingdoms, Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie, and Securitize. This initiative aims to foster innovation and growth in the Avalanche ecosystem.
Having prior experience using Joepegs, I used my knowledge to delve deeper into the platform's inner workings. First, I retrieved my transaction hashes and examined the EZ Decoded Event Logs. This allowed me to locate Joepegs' contract address, which is 0xae079eda901f7727d0715aff8f82ba8295719977.
I then narrowed my focus to two specific event names, 'TakerBid' and 'TakerAsk,' which pertained to the platform's sales.
By examining the decoded_log column, I could extract vital information such as the buyers, sellers, collections, and sales amount in Avax. Armed with this data, I thoroughly analyzed these parameters and drew insightful conclusions about Joepegs' performance on the Avalanche blockchain.

