Solana-based decentralized auction platform MonkeyBids scores partnersip with illiquid asset valuation tool Lithium Finance
MonkeyBids, a first-ever platform for on-chain auctions on Solana (SOL) blockchain, shares the details of its collaboration with Lithium Finance protocol.
MonkeyBids inks strategic partnership with Lithium Finance
According to the official statement shared by the MonkeyBids‘ team, it has scored an agreement with Lithium Finance, an instrument that makes the valuation of illiquid assets possible.
MKB’s first strategic partnership agreement is OUT.❤️🔥❤️🔥❤️🔥With the help of collective intelligence👥🧠, we will redefine the value of collectibles.💣 @LithiumFinance #Degens #NFT #bids #monkeykingdom
THE PERFECT COMBO OF VALUATION AND AUCTION EXPERIENCEhttps://t.co/zj6CiBVEV4
— MonkeyBids (@monkeybids_) November 3, 2022
Largely, the collaboration will cover the next NFT offerings on MonkeyBirds. However, Lithium Finance’s instruments allow clients to evaluate Web2 economic assets as well.
Unlike traditional valuation instruments, Lithium Finance collects data from social media to check out the sentiment of traders, commissioners, enthusiasts and analysts.
This information is analyzed by AI-powered tools to estimate the real attitude of people prior to the release of this or that NFT collection.
More accurate valuation for decentralized auctions
MonkeyBids CEO and co-founder Kelvin Ho is excited by the amazing opportunities the new partnership unlocks for his product and its customers:
Lithium is aggregating the community sentiment before every auction starts. This gives us and our collectors the confidence to understand how much does the community desire the auction item.
As a result of the collaboration, participants in decentralized auctions on Solana (SOL) organized by Lithium Finance can enjoy more accurate pricing for available assets.
Also, the two teams are going to organize joint events for Web3 enthusiasts, including games and quizzes with cryptocurrency rewards.