BidShop.io boosts KuCoin Labs' NFT ecosystem
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The non-fungible token (NFT) marketplace Bidshop.io has successfully been integrated with KuCoin Labs, the investment venture and incubator arm of the KuCoin ecosystem, to strengthen its NFT ecosystem.
KuCoin Labs announced its co-incubation integration with Republic Capital in BidShop.io to enhance its NFT ecosystem in a press release on September 19. An NFT marketplace called BidShop.io offers new liquidity sources to NFT holders.
BidShop.io NFT Marketplace Explained
An NFT marketplace called BidShop.io was built on a completely decentralized reverse auction process that offers customers a gamified experience while tackling market inefficiencies in the NFT industry.
Customers may acquire priceless digital treasures for a tiny portion of the cost on the NFT market. Additionally, it enables sellers to generate extra liquidity streams beyond their NFTs' floor price.
The typical NFT auction process is modified by game theory considerations on the BidShop.io NFT marketplace, giving holders of NFTs access to extra liquidity beyond the floor price. It makes it possible for customers to purchase uncommon NFTs for comparatively less money.
BidShop.io And KuCoin Lab Integration
The KuCoin ecosystem's investment and incubator initiative, KuCoin Labs, was introduced in May 2018. A team of well-known industry professionals, KuCoin Labs, provides in-depth market research, analysis, and the incubation of different digital assets for the cryptocurrency market.
KuCoin Labs expects exploiting BisShop.io's NFT marketplace capabilities under the new integration to strengthen its NFT ecosystem. KuCoin Labs CEO Luo Yu made the following observation on the new alliance:
“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 will benefit from Bidshop.io in various aspects, including business strategies, fundraising, marketing orientations and market strategies.”
In order to significantly enhance its NFT ecosystem, KuCoin Labs will investigate future possible and more varied partnerships with BidShop.io NFT marketplace.
Thanks to Dominic Kimani at Business 2 Community whose reporting provided the original basis for this story.
