Is crowdfunding the right word to use for our idea?
Posted: Thu Jan 08, 2015 8:27 pm
Hi, we have always referred to our idea as a kind of crowdfunding idea. However I would just like to run it by some people to make sure.
Our idea is rather simple, the site is designed to allow people to buy and sell. However instead of selling for a certain price, sellers sell tickets to win the item. So if the seller wants £200 they would sell 200 £1 tickets, and one lucky person would win. This means the seller gets the price they wanted for the item. However one person gets a £200 item for just £1.
We have always considered this a crowdfunding style of selling, as a large number of small amounts, are collected to form one main goal amount.
A key word in this is style, we always refer to the platform as a crowdfunding style platform and this makes sense from the dictionary definition of crowdfunding. However would you agree that this is a good or fair term to use to describe our idea?
Thank you any help appreciate positive or negative.
Our idea is rather simple, the site is designed to allow people to buy and sell. However instead of selling for a certain price, sellers sell tickets to win the item. So if the seller wants £200 they would sell 200 £1 tickets, and one lucky person would win. This means the seller gets the price they wanted for the item. However one person gets a £200 item for just £1.
We have always considered this a crowdfunding style of selling, as a large number of small amounts, are collected to form one main goal amount.
A key word in this is style, we always refer to the platform as a crowdfunding style platform and this makes sense from the dictionary definition of crowdfunding. However would you agree that this is a good or fair term to use to describe our idea?
Thank you any help appreciate positive or negative.