Issuing a token in the crypto-world is like going public at the stock market. A company issues tokens (or shares). Balázs first met the concept of the reverse auction at Raiden Token auction. A simplified version of this became the basis for ReverseTicket's dynamic pricing.
Because of the huge demand, they used a very sophisticated reverse auction system.
After understanding the system, Balázs realized how ingenious it was. This is the fairest way to sell virtual money (or tickets) in case of huge over-demand. But, unlike Balázs, most people do not interact with the world of cryptocurrencies. The general public miss out on such innovations, Balázs decided to bring it to them.
That is how the concept of ReverseTicket was born. We decided to make it easy for everyone to understand, and replace the crypto money with the well-known MasterCard and Visa Cards.
With the idea in mind, we participated in a startup incubation program. During those 5 weeks, we sophisticated the idea and created our business model too. Thanks to Hiventures' investment, the system is ready to make ticketing fairer for everyone.