MonkeyBids, a decentralized auction platform based on Solana, announced on Thursday, November 3rd, that it had entered a strategic partnership with Lithium Finance, an illiquid asset valuation tool.The partnership is designed to provide consumers with more transparent and reliable valuations of both digital and physical collectibles.According to the press release shared with Cryptowisser, the team said Lithium uses collective intelligence and machine learning to value assets. Lithium incentivizes and aggregates opinions from the community to reveal the market’s anticipation of illiquid assets such as rare NFT through cryptoeconomics.By partnering with Lithium, MonkeyBids will bring consumers a decentralized auction experience through a new valuation method, helping them to quickly grasp the market conditions and the value of their collections in the ever-changing Web3 world.MonkeyBids CEO &amp; Co-Founder, Kelvin Ho commented that;“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.”MonkeyBids added that the two companies might hold events in the future to allow the public to participate in the valuation and bidding of auction items. The one with the closest guessing result and the final transaction amount will win a huge prize.MonkeyBids is a Solana-based decentralized auction platform combining Web2 and Web3, the purpose is to promote the &#34;collector&#39;s economic circle,&#34; where every commodity is a collectible, and everyone can become a unique collector.Meanwhile, Lithium Finance is the first decentralized NFT valuation protocol powered by collective intelligence and machine learning. The protocol aims to redefine how NFTs are being valued by incentivizing the community to provide honest assessments to reveal market sentiments.

MonkeyBids And Lithium Finance Announce A Strategic Partnership

Cryptowisser

Other articles published on Nov 3, 2022

Why Non-Fungible Tokens (NFTs) Could Be the Next Big Thing In Blockchain

Monthly Development Report | October 2022

🛸 Star Trek Week 🛸

PayBito to Provide Crypto Proficiency to Advance the Prominent DeFi Companies in El Salvador

MetaVerse Green Exchange Partners with Chainlink to Connect Web2 and Web3 Carbon Markets

Buy SaTT on PancakeSwap

Join our free newsletter for daily crypto updates!