LiquidFactory.io to launch privacy network auction-style NFT marketplace
KuCoin Labs, the investment and incubation arm of the KuCoin ecosystem, has announced a joint lead investment in LiquidFactory.io, a startup building a privacy network using native cryptographic cross-chain communication.
The $1.25 million funding also attracted support from VC firms such as IDG Capital, CDH VGC, Lapin.Digital, Ascensive Assets and Acheron Trading.
Aviv Farhi, COO of LiquidFactory.io said:
“LiquidFactory.io will use this investment to launch its first product, BIDSHOP.io.”
LiquidFactory.io’s first product, BIDSHOP.io, is an NFT auction-style marketplace that introduces elements of game theory to the traditional NFT auction process.
Bidders on the platform can use the platform’s encryption layer to hide their bids from others in a decentralized and trustless manner, enabling an additional liquidity stream for NFTs. Bidders can also get her rare NFT at a discounted price off the list price.
The BIDSHOP testnet platform is scheduled to launch on December 7th and will include giveaways and prizes to attract users and testers. KuCoin Labs advises his LiquidFactory.io on various aspects including business strategy, fundraising, marketing and go-to-market strategy.
Post LiquidFactory.io, which launches a privacy network auction-style NFT marketplace, first appeared on CryptoSlate.
