KuCoin Labs, the funding and incubation arm of the KuCoin ecosystem, has introduced its co-lead funding in LiquidFactory.io, a startup that’s constructing a privateness community with native encrypted cross-chain communication.
The $1.25 million fund increase additionally attracted backing from VC corporations together with IDG capital, CDH VGC, Lapin.Digital, Ascensive Belongings, and Acheron Buying and selling.
Aviv Farhi, COO of LiquidFactory.io stated:
“LiquidFactory.io can be utilizing this funding to launch its first product BIDSHOP.io,”
LiquidFactory.io’s first product, BIDSHOP.io, is an NFT auction-style market that introduces recreation idea components into the standard NFT public sale course of.
Bidders on the platform will be capable of cover their bids from others in a decentralized and trustless method utilizing the platform’s encryption layer — permitting for extra liquidity streams for NFTs. Bidders will even be capable of purchase uncommon NFTs at a reduction from their itemizing value.
The BIDSHOP testnet platform is scheduled to launch on Dec. 7 and can embody giveaways and prizes to draw customers and testers. KuCoin Labs can be advising LiquidFactory.io on varied elements similar to enterprise technique, fundraising, advertising, and go-to-market methods.
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