VICTORIA, Seychelles–(BUSINESS WIRE)–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 flows above the 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 in the hands of NFT owners and give buyers a greater prospect of success. With reverse auctions, all bid values are encrypted and invisible to other bidders. This is a major technological challenge when you implement encryption on the EVM blockchain and keep the process completely trustless.
“The reason we love BidShop.io is not only the unique technology, but the true gamification of the NFT space, adding more liquidity and giving more people a chance to acquire NFTs with true value. KuCoin Labs advises Bidshop.io from various aspects, such as business strategy, fundraising, market orientation as well as go-to-market strategies, etc. stated Lou Yu, head of KuCoin Labs.
In the future, KuCoin Labs will explore potential and diversified collaborations with BidShop.io to significantly improve the NFT ecosystem.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in the Seychelles. As a user-oriented platform with a focus on the inclusion and reach of community actions, it offers over 700 digital assets. It currently offers 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 investment through a pre-series B round, bringing total investments to $170 million with round A combined, for a total value 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
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
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 buy valuable NFTs for a fraction of the price, while sellers can create additional liquidity flows above the minimum price of their NFTs.
BidShop’s auction mechanism is fully decentralized and built on unique technology, which encrypts bid values on the EVM network while remaining completely trustless.
Bid small, win big with BidShop.
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