GBM has announced the launch of its first Auction Festival in partnership with leading Web3 projects. The festival will showcase a new auction model aimed at changing the distribution of value in the blockchain space.
Launch of the Auction Festival
The GBM Auction Festival will take place from late June to early September and aims to bring communities together around auctions and rewards. Projects such as The Sandbox, Aavegotchi, and Unstoppable Domains are participating.
Win-Win Model
Unlike traditional auctions that reward only winners, GBM's Win-Win model allows all outbid participants to receive their full bid back. This creates a dynamic environment where competition leads to true market discovery without manipulation.
Festival Details
The festival will feature live partner auctions, rewards for all bidders, not just winners, community quests, and various competitions. Participants can earn points for their activities and gain access to GBM tokens upon launch.
The Auction Festival represents a significant step in the protocol’s evolution, offering innovations in value distribution. The participation of all auction players will set a new standard for Web3.
