Summary
- Profile Type
- Business Offer
- POD Reference
- BOGR20230511018
- Term of Validity
- 16 May 2023 - 15 May 2025
- Company's Country
- Greece
- Type of partnership
- Investment agreement
- Targeted Countries
- All countries
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General information
- Short Summary
- A gamified reverse auction platform where users bid on items, with the price dropping with every bid. The auction is fair, accessible, and fast-paced, with users buying tickets to participate and the cost of the item covered by ticket sales. The winner is not the highest bidder, making it an innovative and exciting approach to the traditional auction model.
- Full Description
-
The platform is a reverse auction game that has revolutionized the traditional auction model. Unlike regular auctions where prices increase with each bid, the platform auctions start low and decrease with every bid, providing an engaging and exciting experience for users.
To ensure fairness, the platform uses a ticket system to prevent bots and scams, and the cost of the item sold is covered by the bought tickets. The ticket price is kept low to ensure affordability and accessibility for everyone, and the auction usually starts at 10% of the retail price of the item.
The winner of the auction is determined by a 10-second timer that starts after the last bid is placed. If no new bids are placed during this time, the last bidder will be the winner. This adds an extra layer of excitement to the auction process, as users need to keep an eye on the timer and be ready to bid at the last moment if they want to win.
The platform's innovative approach to auctions makes it a fast, fun, and exciting way for users to purchase items at lower prices. With its fair ticket system, affordable pricing, and unique reverse auction model, the platform has created an engaging and accessible auction platform that provides a new and exciting way to purchase items online. - Advantages and Innovations
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The platform's innovative reverse auction model offers several advantages over traditional auction models:
Exciting and engaging: The platform's reverse auction model creates an engaging and exciting bidding experience for users. As the price drops with every bid, users are incentivized to place bids quickly, adding a sense of urgency and competition to the process.
Fair and transparent: The use of a ticket system ensures that the auction is fair and transparent for all participants. Users need to purchase tickets to participate, and the cost of the item sold is covered by the tickets bought. This system helps to prevent bots and scams and ensures that the auction is accessible to everyone.
Affordable: With its low ticket prices and starting prices set at 10% of the retail price of the item, The platform makes auctions affordable for everyone. Most auctions end at a price lower than €10, making them accessible to a wide range of users.
10-second timer: The platform's unique approach to selecting a winner with a 10-second timer adds an extra layer of excitement to the auction process, making it more engaging for users.
Gamified auction: The platform has gamified the auction process, creating a fun and exciting way for users to purchase items at lower prices. This innovative approach to auctions has made the platform a popular one for users looking for an engaging and affordable way to purchase items online.
Overall, the platform's reverse auction model and use of a ticket system have created a fair, affordable, and engaging auction platform that offers a new and exciting way to purchase items online. - Technical Specification or Expertise Sought
- Partner for the technological development or for funding needed
- Stage of Development
- Available for demonstration
- Sustainable Development Goals
- Not relevant
- IPR status
- Secret know-how
Partner Sought
- Expected Role of a Partner
- Partner for the technological development or for funding needed
- Type and Size of Partner
- SME 11-49
- Big company
- R&D Institution
- Type of partnership
- Investment agreement
Dissemination
- Technology keywords
- 01003011 - Electronic Commerce, Electronic Payment & Signature
- Market keywords
- 09003007 - Other services (not elsewhere classified)
- Sector Groups Involved
- Retail
- Targeted countries
- All countries