We will have more surprises soon, as we are planning to keep opening the scope... to become a gamification center... but can't reveal anything yet!

MaticNews x Bidshop AMA Recap and Transcript

MaticNews: Let’s start with an introduction of you and your team for our community!
Bidshop: We are BIDSHOP, creators of the first gamified, competitive NFT marketplace. Our team consists of over 20 members from more than 10 countries across the world. We have several blockchain devs who boast more than 5 years of experience, as well as a number of experts who have worked with some well-known and established NFT marketplaces in the past.

Our team has also previously launched projects on a number of high-profile exchanges.

Behind our team is the backing of some major players in the crypto/web3 space, including KuCoin and Republic Capital and I'm Heads from Bidshop Marketing team, happy to explain more things about us!
MaticNews: Tell us about your project "BIDSHOP". Initial thoughts and motives behind the project?
Bidshop: BIDSHOP was born from our desire to contribute to the NFT community, and innovate upon the current marketplace standards to address some shortcomings inherent in that model. We aim to provide unique and fair mechanisms which offer benefits to all participants in the market.

Beyond generating liquidity to NFT sellers through our one-of-a-kind bidding mechanism, our platform also gives buyers the opportunity to acquire NFTs for a fraction of the price.


We will also offer revenue sharing with all holders of our native token, to give back to the participants who make the platform work. On top of all of this, we wanted to make it fun.

You can visit https://bidshop.io to take a look, and also join https://bidshop.io/nft-raffle to take advantage of our current free raffle!

We organized all this to celebrate our upcoming launch, we will run the raffle during our opening week, we expect it for Mid December.

MaticNews: I would love to know some of the features that make BIDSHOP unique and better in the NFT industry.
Bidshop: Thanks. At its core, BIDSHOP is based on an auction-style marketplace - however, instead of the classic highest-offer-wins model, BIDSHOP introduces game theory elements to the process.
Our platform allows players to compete to hold the highest unique bid at the end of each auction; strategy and clever bidding is the key to winning. At the end of each auction, the player who took out the competition and held the highest unique bid is the winner.

BIDSHOP’s model provides benefits to both buyers and sellers alike; for sellers, liquidity is generated through small bid fees collected from players to participate, which guarantees the seller receives 100% of their listing price

This liquidity pool also accumulates through each auction, and allows bidders the opportunity to acquire NFTs for a 90% discount or higher. Beyond these obvious benefits, sellers will receive listing rewards just for offering their NFTs on our platform, generating income even if their NFT isn’t immediately sold. So as you can see in the picture, you place bids (shall be smaller than 10% of the NFT price) and there is ranking where you can see your position.

Behind the scenes, BIDSHOP has created an unprecedented encryption method to secure our platform. By coupling the Polygon platform with the Secret network’s privacy protocols, BIDSHOP is able to harness the liquidity from EVM chains, while encrypting bids using Secret’s customizable contracts.

This ensures that all players’ bids are kept private during each auction, and prevents any malicious entities from accessing our bid data, and manipulating the auctions on our platform.
MaticNews: How are you planning to promote your project, any initial success?
Bidshop: We’re proud to say that we are running the biggest free NFT raffle ever to promote our platform! Among other Blue Chip NFTs available, we’re offering a Bored Ape, a Mutant Ape, and an Azuki NFT as prizes.

Anyone can enter the raffle, and details for how to participate can be found in the link i shared before.

We’ve partnered with a number of major platforms and influencers to make this an unforgettable introduction to the NFT space, and we’ve already reached close to 10,000 participants.

Some of our raffle partners, including Kucoin, and different top platforms.

We’ve also got several smart campaigns running on the Quest3 platform to reward those who join our community before we launch.

We’re trying to build a genuine, engaged community, so using Web3 marketing tools helps to eliminate bots while incentivizing people to participate while we grow. We’re also running a number of promotional events leading up to our launch - for those interested, join our Discord Server to stay up to date on all current and future promotions.

MaticNews: When are you going to launch your product, and the tokenomics around it?
Bidshop: In about two weeks we’re going to be launching our Testnet to allow the community to try out the platform, learn how it works, and develop some bidding strategies for the full launch.

Our grand opening will be in mid December of this year, with a Creation Week event featuring increased platform rewards for our community members who took part in the events leading up to launch.

We’re also offering rewards for all participants on the platform during Creation Week - this includes multipliers for platform tokens earned by bidding, higher Listing Rewards for sellers who offer their NFTs to populate the platform at launch, and a number of other participation bonuses to generate volume and boost engagement.

MaticNews: Everything sounds great. What are your goals for the next 2 years according to your roadmap?
Bidshop: Our ultimate goal is to become the most vibrant marketplace in the NFT space. As we grow, we will adapt and revolutionize the gamified elements of our platform, creating even more fun and interesting aspects to our auctions. We want to fill the void present within the current marketplace platforms, and to do so, we will continue to develop new features and incentives to use our platform.

We want to ensure that BIDSHOP becomes the standard for buying and selling NFTs.

We will have more surprises soon, as we are planning to keep opening the scope... to become a gamification center... but can't reveal anything yet!

Community Question: How does Bidshop gain from allowing NFT purchased at a minimum of a 90% discount? Wouldn't this plunge a risk to the project?
Bidshop: Bidshop is a decentralized marketplace. A small % of every bid will go to a revenue pool, shared by tokenholders.

Community Question: In this opportunity I would like to know more about the seller-side mechanism and the benefits of listing NFT on the BIDSHOP platform. Can you explain in more detail how sellers take advantage of the BIDSHOP platform? Is there a price limit set by BIDSHOP? And does BIDSHOP offer an incentive reward system for sellers who list their NFT on the platform?
Bidshop: Sellers list their blue chip NFT on our platform. They choose the listing price. And benefit from the liquidity we are providing thanks to our gamified auction mechanism.
Sellers have 0 risk. If there isn't enough bidders for an auction, then they can unlist the item.
Buyers, just pay a small fee in every bid, to bring that liquidity.

MaticNews: What a great AMA thank you for joining us!
Bidshop: The pleasure was mine!

Written By

Petrache Ionut

Nov 12, 2022