KuCoin Labs enriches NFT ecosystem by incubating BidShop.io NFT liquidity solution

KuCoin Labs enriches NFT ecosystem by incubating BidShop.io NFT liquidity solution

Victoria, Seychelles – (work wire) –KuCoin . LabsThe investment and incubation arm of the KuCoin ecosystem has officially announced its joint incubation with Republic Capital at BidShop.io, a startup that creates additional liquidity streams for NFT pregnant women.

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

The startup is using an innovation known as reverse auctions to put more power in the hands of NFT owners and provide buyers with greater chances of success. With reverse auctions, all bid values ​​are encrypted and not visible to other bidders. This is a major technical challenge when implementing cryptography on the EVM blockchain and keeping the process completely trustless.

“The reason we love BidShop.io is not only for the unique technology, but also for the real stimulation of the NFT space, adding more liquidity and allowing more people to acquire real value NFTs. KuCoin Labs advises Bidshop.io from various aspects, Such as business strategy, fundraising, marketing guidance, as well as market entry strategies, etc.” stated Lu Yu, Head of KuCoin Labs.

In the future, KuCoin Labs will explore various potential collaborations with BidShop.io to significantly improve the NFT ecosystem.

About KuCoin

KuCoin was launched in September 2017, and it is global Cryptocurrency exchange With its operational headquarters in Seychelles. As a user-oriented platform focused on inclusivity and access to community action, it offers over 700 digital assets. Currently, it provides spot trading, margin trading, P2P cash trading, futures trading, betting, and lending to 20 million users in 207 countries and regions.

In 2022, KuCoin raised over $150 million in investments through the Pre-Series B round, bringing the total investment to $170 million with the first round combined, with a total value of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021, Forbes ranked KuCoin as one of the best cryptocurrency exchanges. In 2022, The Ascent called KuCoin the Best encryption app for amateurs. For more information, please visit the website https://www.kucoin.com.

About KuCoin Labs

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

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

About BidShop.io

BidShop.io is the first NFT marketplace built on the reverse auction mechanism that provides an endearing 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 flows above the minimum price of their NFTs.

The BidShop auction mechanism is fully decentralized and built on a unique technology, that encrypts bid values ​​on EVM networks while maintaining complete trust.

Small bid, win big with BidShop.

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