GiveAway
GiveAway is a community-driven marketplace based in San Francisco, CA, USA; Minsk, Belarus; and remotely, facilitating the exchange of items through a unique auction system using a virtual currency called Karma to promote sustainability and reduce consumerism.
Services
GiveAway provides a community-driven marketplace that facilitates the exchange of used items. Users can list items for giveaway and participate in a fair bidding process to obtain items. The platform uses a virtual currency called Karma for bidding, which users can earn by giving away items, inviting new participants, and supporting the project. The mobile app is available on Google Play, Apple App Store, and Huawei AppGallery.
Locations
GiveAway operates from multiple locations, including San Francisco, CA, USA; Minsk, Minsk Region, Belarus; and also offers remote participation. The service is aimed at users in regions such as the United States of America, Belarus, America/Canada, Europe, and globally through fully remote operations.
Auction System
GiveAway features a unique auction system where users can bid on items using Karma. The winner is determined by who offers the most Karma before the timer expires. The timer starts when the first person taps 'Want it' and dynamically calculates its duration. If a bid is placed within the last 10 minutes, the countdown restarts from 9 minutes 59 seconds. This ensures fairness by freezing the Karma offered until the end of the timer.
Sustainability Mission
GiveAway's mission is to decrease consumerism and increase sustainability. The platform encourages users to give away items they no longer need and only keep items that bring joy. This helps reduce waste and promotes a sharing economy. With the potential for over ten thousand items being available if one in ten people in a city installs the app, GiveAway aims to make it easy and fulfilling to give away or acquire items, contributing to a more sustainable environment.
History
GiveAway was launched in January 2020 and is part of the Y Combinator W20 batch. Since its inception, the company has been dedicated to providing a platform for the exchange of used items to promote sustainability and reduce consumerism. The project is continually expanding to new cities globally and encourages feedback and participation from users to further develop and improve the app.
How Karma Works
In GiveAway, Karma is the virtual currency used for bidding on items. Users can raise their Karma by giving away items, inviting new participants to the platform, and supporting the project through crowdfunding. If a winner or giver fails to discuss pickup within 48 hours, the transaction is canceled, and the non-responsive party is fined 2 Karma. This system ensures that the bidding process is fair and efficient.