About

The selling process is binary and deterministic. You can either afford or not to buy an item. The auction process is boring and long lasting especially in online implementations where it does not require user interaction a lot. Also the auctions and all auction schemes are for those who can afford and the auction winner is always the biggest spender. Poor or low income people just do not have a fair chance.

Solution & Product

We disrupt the bidding and e-commerce industry by introducing the first real reverse auction game in the world. A new process where the price of the item auctioned starts low (10% of its original value) and drops with each bid. Moreover the process is fast and more imprtantly fair, meaning that the outcome of the game does not depend on the financial status of the player as in most modern games (pay to win games) or auction schemes that exist. Users have to use strategy and observation in order to maximize their chances of winning. The end result is a fun process that enables the user to buy high cost items at a sale of up to 99,99% through playing, at a minimal cost.

Innovation & Scalability

New auction process, easy to understand hard to master. Our added value comes from the process so we can have extra profit that is much better than a simple selling online process. The process can work with minor modifications both as an auction store (where we act as the sellers) or as an auction platform (where the seller is a third person). Our model also provides better results for the seller which can make it directly competitive to ebay or other classic auction platforms. Acting as a platform needs no explanation on scalability. Acting as a store we still are scalable because of the business model and the fact that the customer pays us for the process and not for the item meaning that for the same gross revenue we deliver less items with less shipping and more profit. Also we have a more than 5 years plan on updates and add-ons which can make the game better, more strategic and add more functions which will create an ecosystem around the initial idea.

Traction & achievements

So far we have developed an MVP through outsourcing. Although the MVP is bad and not what we wanted or hoped for, however we went live and tested it with real audience. Our single advertising brought us more than 300 customers in one day along with some partnership proposals. That was when we decided that we should redevelop before going full scale on advertisement, in order to ensure that the product would not harm the brand name and will help us reduce the Customer Acquisition Cost. We started looking for investors and we got accepted by FasterCapital at their tech co-Founder program. On March of 2021 we got accepted at VentureGarden and on July of 2021 we were awarded as one of the 5 winners of the John and Mary Pappajohn Innovation Competition of Anatolia College of Thessaloniki. Currently we are incubated by the Athens Stratup Incubation Program and most recently we are semi-finalists at the Financial Times FTxSDG contest where we got picked among 4500+ participants.

Team & Why Us

Me as a founder and Athanasios as a co-founder have devoted the last 2 years of our lives to this project to ensure that we can make it something huge. We are passionate and hard working and we started our journey with only 2000€ and faith in our porject. Our tech co-founder, FasterCapital, can ensure the best possible result for the final product as well as the lowest possible cost. We continuously come up with new ideas about this project and we have the needed experience and knowledge to make it even bigger.

Funding Needs

Currently we are in search of 100.000€ to 200.000€, which will be spent on development of the final product and after that, advertising so that the public is aware of the innovative solution we offer.