KuCoin Labs, the investment venture and incubation arm of the KuCoin ecosystem, has announced successful integration with non-fungible token (NFT) marketplace, Bidshop.io to boost its NFT ecosystem.
In a September 19 press release, KuCoin Labs confirmed its co-incubation integration with Republic Capital in BidShop.io to enrich its NFT ecosystem. BidShop.io is an NFT marketplace that creates additional liquidity streams for NFT holders.
BidShop.io NFT Marketplace Explained
BidShop.io is an NFT marketplace established on a fully decentralized reverse auction mechanism that provides a gamified experience for users while addressing market failures in the NFT space.
The NFT marketplace allows buyers to purchase valuable digital collectibles for a small fraction of the price. Moreover, it allows sellers to create additional liquidity streams above the floor price of their NFTs.
BidShop.io NFT marketplace introduces game theory factors into the traditional NFT auction process, thus creating additional liquidity streams above floor price for NFT holders. It allows buyers to acquire rare NFTs at relatively lower prices.
BidShop.io And KuCoin Lab Integration
Launched in May 2018, KuCoin Labs is an investment venture and incubation arm of the KuCoin ecosystem. KuCoin Labs incorporates a group of high-profile industry experts that offers in-depth market research, analysis, and an incubation of various digital assets in the crypto industry.
Under the new integration, KuCoin Labs anticipates leveraging BisShop.io NFT marketplace capabilities to boost its NFT ecosystem. While commenting about the new partnership, Luo Yu, the head of KuCoin Labs, remarked:
“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 the future, KuCoin Labs will further explore potential and more diversified collaborations with BidShop.io NFT marketplace to vastly improve its NFT ecosystem.
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