June 27, 2022
A site where teams bid to either save or destroy a piece of history
How much would you pay to save a piece of history from being destroyed?
How much would you pay to watch something you hate be burned?
The two competing forces above create the concept of (one of) this week's ideas. It's called Burn It.
And the premise is that two competing teams bid to either save or destroy some piece of history.
It's called Burn It.
Here's how it works.
Let's say I have a jersey from my favorite football team. I could put it up on eBay, where it might get $100.
Or, I could put it up on Burn It. Rather than people paying what it's actually worth, they're paying to save or destroy it.
So I could bid $5 to destroy it, and then in order to save it, you (or other people on your "side") would need to bid $6 to save it.
Once the bidding ends, it either gets destroyed or not depending on which side has the highest sum.
The bidding mechanism is more like Kickstarter than eBay. Everyone who bids puts money in, rather than just the high bidder. Crowdsourced destruction.
If it gets destroyed, we send it to an incinerator with great cameras and lighting so that anyone who bid can watch the livestream of it getting destroyed.
If it gets saved, the item gets randomly sent to one person who bid to save it. This way people are still encouraged to make sure that the bidding gets up to the market price, even if they aren't bidding against anyone.
But, if there are two active sides, you amplify the idea of a bidding war by actually pitting them against each other. Monetize by taking a cut of the proceeds.