Real-time, dynamic auctions versus time-based bids.
Netverse's auction system will operate differently from fixed-duration auctions.
- Dynamic and instant: Netverse's patented, real-time bidding functionality will allow for auctions to occur instantly in response to market conditions or specific seller needs. For example, a retailer can use Netverse to automatically auction off a small batch of an in-demand product to interested users, or sell overstocked inventory, with the entire process potentially taking minutes instead of days.
- Automated pricing: AI can drive the bidding process by analyzing real-time sales data. Businesses can set rules for automated auctions, such as starting a sale on overstocked inventory. This contrasts with big auctions, where sellers must manually set up auction listings and wait for them to conclude.
Unlike current big auction platforms, which are a standalone marketplace, Netverse's auctions will be deeply integrated into its broader ecosystem, offering seamless customer experiences and new ways to leverage rewards.
- Rewards integration: Phinge's universal rewards system, can be used to bid and pay in Netverse auctions. This creates a valuable new function for user rewards and adds a financial incentive for engagement within the ecosystem.
- Cross-platform engagement: A user could earn rewards from a social media post, use them to bid on an item in a Netverse auction, and then redeem further rewards at a Netverse-affiliated merchant even in the real-world. This connected experience creates a cohesive ecosystem that will be far stickier than a single-purpose auction site.
Current auction platforms C2C (customer-to-customer) model has long faced challenges with fraudulent listings and transactions due to anonymous users and limited verification. Netverse's approach will mitigate this.
- High-trust environment: Netverse requires users to be verified through its proprietary hardware. For auctions, this means that bidders' identities are tied to a verifiable device and profile.
- Reduced fraud: This verification builds a high-trust environment, which could significantly reduce the risk of fake bidders, scam listings, and non-paying buyers—common issues that plague big auction platforms format.
- Accountability: Because users are verified, they are more accountable for their bids and actions, ensuring a fairer and more reliable auction process for both sellers and buyers.
- Real sellers: Because sellers are verified, they are more accountable for their items, sales and actions, including delivery of goods, ensuring a more verifiable and honest auction process for both sellers and buyers.
Instead of relying solely on listing fees and seller commissions, Netverse generates revenue through a 10% fee on all sales within its ecosystem, including successful auctions.
- Risk-free for sellers: With Netverse, individual sellers and businesses don't pay any fees upfront for listing an item in an auction. They are only charged a commission if the item sells. This model eliminates the risk sellers face on current auction platforms if an item fails to sell through an auction.
- Customer-centric approach: The rewards-based system and transaction fee are designed to benefit users and businesses, challenging current auction platforms long-standing reliance on a fee structure that is often perceived as unfavorable to sellers.
The predominate auction platforms began as auction-centric models popular with collectors, but they have since shifted to a more general "Buy It Now" model. Netverse will enable real-time auctions to be a dynamic feature of everyday retail, not just a niche for collectibles.
- Automated inventory management: Businesses can use Netverse to put a batch of excess inventory up for a rapid, real-time auction, turning what would normally be a static fire sale into an engaging bidding event. They can even advertise the auction across all platforms on Netverse.
- Dynamic pricing: For mainstream products, real-time bidding could help sellers optimize prices and manage inventory automatically through a free centralized dashboard, creating a more efficient market than current auction platforms manual, time-bound listings
In the way users can sell items, they may also list their services for bid in real-auctions.
- On-demand services: Services like snow removal, car washing, lawn care, baby sitting and more can be offered by real-time auctions. Service providers can list a service auction at any time based on day, date, time availability and more. This is great way to make extra money and fill any gaps in scheduling or making up for last minute cancellations.
First the third-party auction platforms would join Netverse and be verified. Then whenever any of their users, join and are verified on Netverse, the auction platform will earn 1% of the gross dollars they spend through their auction platform on Netverse.
Summary of Netverse disruption
Netverse's strategy is not to build a better version of today's App-based auction platforms but to re-architect the entire auctions ecosystem and experience to benefit its users, buyers and sellers. By giving sellers total control and monetization of their auctions and free tools to advertise and sell their items in real-time, this will benefit them financially. It will challenge the core commission structure, revenue model of today's big auction platforms and companies. Combined with hardware-level security and a unified rewards system, Netverse aims to create a more transparent, secure, and financially rewarding auction and online environment for both buyers and sellers.
You may learn more about Netverse and its patented, magnetically attachable smartphones and devices by visiting Phinge's websites at
https://www.phinge.com
To get on a contact list please fill out the online form here
https://www.phinge.com/netverseai.html
About Phinge Corporation
Phinge was founded and through Netverse® is being developed to disrupt today's outdated App technologies, including the App-store duopoly, by partnering with and giving its users and businesses ownership and control of their data, enhanced privacy and a better overall mobile experience including their ability to monetize it.
Phinge through its upcoming patented Netverse App-less technology platform with proprietary AI, will be a better, safer, verified and rewarding alternative platform and technology for users and third party businesses and developers to today's App stores, operating systems and ecosystems of Apple, Google and Android.
Netverse will not be an App or Super App that resides on the major technology platforms of today.
Instead, it will be a standalone, all-in-one, app-less platform, accessible only through Phinge's revolutionary, patented, Mobile Hardware which includes Magnetically Attachable/Detachable Phones, Tablets, Mobile Gaming Systems and peripherals like the stylish, wireless earbuds with interchangeable batteries and built-in sensor screens for continuous usage without recharging. Smart Watches that never need to be physically charged as they come with stylish external, interchangeable bezels with built-in rechargeable batteries and come in a variety of colors, patterns and finishes.
Netverse will be a verified, centralized-decentralized platform.
Centralized in the way it provides universal safeguards through verification of all users, businesses, organizations, entities and IP through Phinge's patented Netverse technologies and hardware.
Centralized because Phinge and Netverse will be compliant with all government regulations regarding data and privacy.
Decentralized because all third party platforms will be compliant with all government regulations regarding data and privacy as soon as they are verified and join Netverse.
Decentralized because its users, businesses, organizations and entities will have the power to live, work and thrive in a verified world.
Netverse will benefit all verified users and approved, verified third party businesses, developers and platforms on Netverse in ways not possible with today's technology including total verification of all users, businesses, organizations, platforms and entities.
Photos: (Click photo to enlarge)
Source: Phinge Corporation
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