The DROPIT app runs live interactive 60-second drop auctions on stadium and arena scoreboards that fans bid on from their seats. (Photo Credit: Kelsey Grant)

It took just three seconds for the inaugural Dropit auction at Talking Stick Resort Arena, Phoenix, to finish. A record for the young app, said Dropit COO Brendan Howell.

The engagement-based app allows sports teams and venues to generate user interest by promoting 60-second in-venue auctions that see the price drop, rather than ...

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