KuCoin Labs Enriches NFT Ecosystem by Incubating NFT Liquidity Solution BidShop.io

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VICTORIA, Sey­chelles–()–KuCoin Labs, the invest­ment and incu­ba­tion arm of the KuCoin ecosys­tem, has offi­cial­ly announced its co-incu­ba­tion with Repub­lic Cap­i­tal in BidShop.io, a start­up that cre­ates addi­tion­al liq­uid­i­ty streams for NFT holders. 

BidShop.io intro­duces game the­o­ry fac­tors into the tra­di­tion­al NFT auc­tion process, which has the effect of cre­at­ing addi­tion­al liq­uid­i­ty streams above floor price for hold­ers of non-fun­gi­ble tokens. On the buy­er side of the equa­tion, the solu­tion also allows bid­ders to acquire rare NFTs at a frac­tion of the price. 

The start­up uses an inno­va­tion known as reverse auc­tions to put more pow­er into the hands of NFT own­ers and fur­nish buy­ers with greater prospects of suc­cess. With reverse auc­tions, all bid val­ues are encrypt­ed and invis­i­ble to oth­er bid­ders. This is a big tech­no­log­i­cal chal­lenge when imple­ment­ing encryp­tion on EVM blockchain and keep­ing the process com­plete­ly trustless. 

“The rea­son why we love BidShop.io is not only the unique tech­nol­o­gy but the true gam­i­fi­ca­tion of the NFT space, adding more liq­uid­i­ty and pro­vid­ing more peo­ple with a chance of acquir­ing NFTs with true val­ue. KuCoin Labs is advis­ing Bidshop.io from var­i­ous aspects, such as busi­ness strat­e­gy, fundrais­ing, mar­ket­ing ori­en­ta­tions as well as go-to-mar­ket strate­gies, etc.” stat­ed Lou Yu, Head of KuCoin Labs. 

In the future, KuCoin Labs will fur­ther explore poten­tial and diver­si­fied col­lab­o­ra­tions with BidShop.io to vast­ly improve the NFT ecosystem. 

About KuCoin

Launched in Sep­tem­ber 2017, KuCoin is a glob­al cryp­tocur­ren­cy exchange with its oper­a­tional head­quar­ters in Sey­chelles. As a user-ori­ent­ed plat­form focused on inclu­sive­ness and com­mu­ni­ty action reach, it offers over 700 dig­i­tal assets. Cur­rent­ly, it pro­vides Spot trad­ing, Mar­gin trad­ing, P2P fiat trad­ing, Futures trad­ing, stak­ing, and lend­ing to its 20 mil­lion users in 207 coun­tries and regions. 

In 2022, KuCoin raised over $150 mil­lion in invest­ments through a pre-Series B Round, bring­ing total invest­ments to $170 mil­lion with Round A com­bined, at a total val­u­a­tion of $10 bil­lion. KuCoin is cur­rent­ly one of the top 5 cryp­to exchanges, accord­ing to Coin­Mar­ket­Cap. In 2021 Forbes named KuCoin one of the Best Cryp­to Exchanges. In 2022, The Ascent named KuCoin the Best Cryp­to App for enthu­si­asts. For more infor­ma­tion, please, vis­it https://www.kucoin.com.

About KuCoin Labs

Since its launch in May 2018, the KuCoin invest­ment and incu­ba­tion pro­gram has brought togeth­er a group of cryp­to experts for in-depth mar­ket research, analy­sis, invest­ment, and incu­ba­tion in the cryp­to indus­try. KuCoin Labs has diver­si­fied invest­ments into ear­ly-stage projects to help project own­ers achieve sus­tain­able growth and suc­cess in the decen­tral­ized world. 

For more infor­ma­tion, please vis­it https://www.kucoin.com/land/kucoinlabs

About BidShop.io

BidShop.io is the first NFT mar­ket­place built on a reverse auc­tion mech­a­nism that pro­vides a gam­i­fied expe­ri­ence for users while address­ing mar­ket fail­ures in the NFT space. 

Buy­ers can pur­chase valu­able NFTs for a frac­tion of the price while sell­ers can cre­ate addi­tion­al liq­uid­i­ty streams above the floor price of their NFTs. 

Bid­Shop’s auc­tion mech­a­nism is ful­ly decen­tral­ized and built on one-of-a-kind tech­nol­o­gy, encrypt­ing bid­ding val­ues on EVM net­works while remain­ing com­plete­ly trustless. 

Bid Small, Win Big with BidShop. 

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