Online Auction “2” Earns New Patent

A new patent on dynamic pricing business method is issued by the United States Patent and Trademark Office today as Patent 6,978,253. It took the US Patent Office and the Patent Board of Appeal and Interference a total of 6.5 years to examine and issue the patent. Dynamic pricing such as online auction has created successful businesses like ebay.com and priceline.com. The newly issued patent proves that Ebay is not the end of online auction.



“Buyer’s purchase price of a product or service is scaled to the buyer’s performance during a price-determining-activity such as an online game.”

The business method creates a dynamic price scheme that integrates ecommerce, online games, and dynamic pricing. Sellers will be able to utilize “priceplay” to dynamically price their products and services, and at the same time attract buyers to revisit or stick to their web sites. Companies use similar schemes include Dell.com, eprize.com, iwin.com, Hawaiin Airlines, and numerous online game sites. According to the www.priceplay.com web site, the application is not limited to wired internet, but can be extended to the wireless world of mobile phone users.



“This is the next generation of internet business model. The internet provided the opportunity to inventions like this. A buyer sees his price changes simultaneously as he engages in an online activity such as an online game, and the price is scaled to the performance during the game. The better your performance, the lower the price.” Neal Benka of priceplay.com believes the business model creates win-win situations for all participants. In which it provides entertainment, bargain, and transactions for consumers. At the heart of it, “Most etailers’ nightmare is the high marketing cost of attracting and converting visitors into customers; priceplay is the solution.” Neal Benka at priceplay says.



“For the online game portals, the priceplay model can be the answer on how to generate revenues from their booming traffics.”



According to sources from priceplay.com, “acquisition talk from at least one major internet powerhouse is underway.” Although PricePlay.com intents to license its patent to etailers and online portals.



For additional information regarding this news, please contact Mike Holler at mikeholler@priceplay.com or go to www.priceplay.com.

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