Breaking: GBM Drops First-Ever Auction Festival – Web3 Heavyweights Rally for Historic Event
GBM just flipped the script on digital asset auctions. Their inaugural festival kicks off with a who's-who of Web3—think top protocols, NFT whales, and DeFi degens colliding in a bid-fueled frenzy.
Why this matters
This isn't your grandma's Christie's auction. GBM's gamified mechanics could rewrite price discovery rules—assuming anyone actually reads the whitepaper before aping in.
The cynical take
Another 'exclusive' crypto event where the real auction is for VC attention. Bonus points if the afterparty has more liquidity than the actual trading pairs.
GBM, an auction protocol committed to redefining how value is distributed onchain, announced today that it has launched its inaugural Auction Festival with top web3 leaders.
The Auction Festival marks the first phase of GBM’s full protocol launch and upcoming token release. It also stands as GBM’s multi-month celebration of auctions, rewards, and community participation.
While it seeks to showcase the power of GBM’s proprietary Win-Win auction model, where every bidder gets rewarded, not just the winner, the event will kick off in partnership with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more.
GBM will not only offer exclusive access to the auctions but also allow participants to engage in quests, earn incentives, and unlock exclusive rewards. This is designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
GBM auction introduces a Win-Win model that allows outbid participants to receive their full bid back and an incentive, turning participation into a rewarding act.
This model operates differently from traditional auctions. It seeks to create a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Notably, GBM boasts of adoption from several leading Web3 projects as they have embraced its Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics.
Sandy Carter, the COO of Unstoppable Domains, expressed delight on the upcoming event, saying;
“We’re thrilled to join the upcoming Auction Festival and bring our Web3 domains to the GBM auction platform. This innovative Win-Win auction model makes Web3 domains more accessible and engaging for everyone, from first-time buyers to seasoned collectors.’’
Sébastien Borget, the Co-Founder & COO at The Sandbox, also commented;
“GBM auctions have introduced a new layer of excitement and strategy to LAND sales in The Sandbox Metaverse. Our community is more engaged than ever, bidding on prized virtual LAND near their favourite brands and celebrities. Even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience. Bidding has become thrilling, fair, and a new way to earn $SAND along the way.”
While the Auction Festival is scheduled to run from late June through early September, it seeks to bring together partner-led auctions, community quests, and protocol-wide incentives.
Hugo McDonaugh, Co-Founder & CEO, GBM, further highlighted the significance of the development, saying;
“The GBM Auction Festival is our way of showing people what a modern auction should feel like – fun, fair, and built around rewarding participation. Bidders get rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.”
