Thread by @avaxholic

JOEPEGS: THE NEW NFT MARKETPLACE FOR THE NFT ON AVALANCHE

Before the #Subnet was released, the #Avalanche ecosystem had mainly focused on the #DeFi market with the substantial rise of prominent projects such as @traderjoe_xyz (DEX), @BenqiFinance (Lending),...

A thread🧵👇

1/ Meanwhile, the term #NFT is also a topic that seems to be hot again with solid development on the @solana and @ethereum ecosystems.

In this article, we will share our perspective on the @joepegsnft project - a new NFT Marketplace platform for the #Avalanche NFT market.

The article consists of 3 main parts:
- Market opportunity of NFT Marketplace on #Avalanche
- What are @joepegsnft? The next piece completes the @traderjoe_xyz ecosystem
- Forecast for Joepegs with current NFT market

2. NFT MARKET OPPORTUNITY ON AVALANCHE

The #NFT market on #Avalanche is just in its early stages compared to #NFT trading volume of ecosystems such as @ethereum with a value of $1B (more than 100 times), or @solana with $171M (more than 10 times) according to @cryptoslamio.

NFT LAYERS ON AVALANCHE

The chart below shows you the structure of #NFT on #Avalanche.

#AvaxholicAnalytics #AVAXDT #CSSADT #NFTCommunity #nftart #DeFi #Crypto

TRADING VOLUME AND UNIQUE USERS (30D)

Below is a comparison table of trading volume and number of traders on the leading DEX and NFT Marketplace platforms.

#AvaxholicAnalytics #AVAXDT #CSSADT #NFTCommunity #nftart #DeFi #Crypto

As we can see:
- The total volume of the #DeFi market is many times larger than the total volume of the NFT market. DEX like Uniswap = Opensea *70 times or Raydium = Magic Eden *6
- But the number of users on #NFT platforms is much more dominant, even double the number of DEX.

With the position of the DEX leader on #Avalanche with the 4th most extensive user base in the entire DEX market, the opportunity for @traderjoe_xyz to open #NFT market access is immense. Users' number on Trader Joe's DEX is more than 130K/30 days on pair with @RaydiumProtocol.

In the #DeFi of Avalanche sector, there is currently only TVL after Ethereum, BNB Chain, so it is possible that in the #NFT space, a market leader protocol could trade with lower or equal volume than the equivalent ecosystem like @solana.

https://twitter.com/joepegsnft/status/1532404100079538176?s=20&t=tWRGb4WHzOeHWhytC2rXHA

3. THE POTENTIAL OPPORTUNITY FOR GROWTH IS STILL GREAT. LET'S FIND OUT WHAT JOEPEGS IS!

@joepegsnft is an NFT trading marketplace that offers a wide range of core features, allowing users to list, trade, and mint #NFTs from collectibles.

Current highlights on @joepegsnft:

1/ LaunchPEG: is the feature that makes Joepegs an NFT Launchpad capable of minting collections by multiple Dutch auctions (selling #NFTs at a high price and decreasing over time until the minimum price is reached or sold out).

The advantage Dutch Auctions offers to creators is a fair pricing marketplace, the discovery of initial prices, fair distribution to owners, and a guarantee of ownership.

https://twitter.com/joepegsnft/status/1516818282929692682?s=20&t=tWRGb4WHzOeHWhytC2rXHA

2/ The Batch Reveal: NFT projects will have the ability to delay collection reveals until a time of their choosing.

3/ Collection Tiers: There are three tiers Unverified (unverified), Verified (verified), and Gold Tier (passed performance benchmarks).

4/ Artist Support: @joepegsnft will also launch a contract creation service to assist creators who are unfamiliar with #Web3 to help increase NFT adoption and promote creative advertising

https://twitter.com/joepegsnft/status/1526232742169567233?s=20&t=tWRGb4WHzOeHWhytC2rXHA

5/ Permissionless: @JoePegs is currently only deploying collections on Avalanche (signing contract add for sale)
6/ Off-Chain: The list price of NFT will be stored off-chain, so users do not have to send transactions when listing NFT.

7/ Filters: All collections will be searchable by category based on their characteristics, making it easier to find the exact NFT you're looking for.

Moreover, features like Rarity Stas, Club Joepegs, and Community Incubators,... will be introduced soon. @joepegsnft is still applying a 0% fee policy for all trading listing activities for the partner and unverified projects.

Since May 2 with Beta, @joepegsnft also recorded 61 listed collections with more than 50 verified projects, a series of partners such as Firat, Eternity, Owloper, Castle Crush, or The Person (17/06).

You should follow Joepegs on Twitter or discord not to miss your favorite collections. discord.gg/TraderJoe

Take a look at a few prominent projects below by total transaction volume: @taptapkaboom @apa_nft @RaptOriginZ @Collectparticle @MadSkullz_NFT

4. FORECAST FOR JOEPEGS

Currently on the Avalanche ecosystem, we have names developing NFT Marketplace, such as @NFTradeOfficial, @GetKalao, @tofuNFT, etc... The total number of users of NFT Marketplace projects has not yet reached 10,000 users.

However, @joepegsnft's current position is excellent to be able to develop and exploit this array.

Sharing June plans for the NFT season on #Avalanche, @CryptoFish -cofounder of TraderJoe, tweeted:
• Launchpad goes live
• @joepegsnft full release (no more beta)
• Joe Combinator

https://twitter.com/cryptofishx/status/1531993314639155200?s=20&t=tWRGb4WHzOeHWhytC2rXHA

@CryptoFish @joepegsnft 👉 Join Avaxholic Discussion Group to discuss more: t.me/avaxholic_chat