GBM Launches Auction Festival with Web3 Partners

GBM, an auction protocol that is redefining the distribution of value on the blockchain, has announced the launch of its inaugural Auction Festival. This multi-month celebration, set to run from late June through early September, focuses on auctions, rewards, and community participation. The event is in partnership with leading Web3 projects, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more. These collaborations aim to highlight the power of GBM’s proprietary Win-Win auction model, where every bidder is rewarded, not just the winner.

This Festival marks the first phase of GBM’s full protocol launch and upcoming token release. Participants can engage in various activities, including quests, earning incentives, and unlocking exclusive rewards. These activities are designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch. The traditional auction model, which rewards only the highest bidder, often leads to friction, sniping, and a lack of genuine price discovery. GBM’s Win-Win model addresses these issues by rewarding outbid participants with their full bid back along with an incentive. This approach creates a dynamic, trustless, high-engagement environment where competition drives true market discovery.

Several leading Web3 projects have already embraced GBM’s Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics. Sandy Carter, COO of Unstoppable Domains, expressed enthusiasm about the partnership, stating that the innovative Win-Win auction model makes Web3 domains more accessible and engaging for everyone. Sébastien Borget, Co-Founder & COO of The Sandbox, also highlighted the increased engagement and excitement in LAND sales within The Sandbox Metaverse, noting that even those who don’t win walk away rewarded, turning every bid into a fun and rewarding experience.

For GBM, the Auction Festival is a significant milestone in the protocol’s evolution. Hugo McDonaugh, Co-Founder & CEO of GBM, emphasized that the Festival aims to show people what a modern auction should feel like—fun, fair, and built around rewarding participation. Bidders are rewarded for their role in discovering the true market value of the seller’s assets, resulting in an outcome where everybody wins.

The Festival will feature live partner auctions, including but not limited to Aavegotchi, Unstoppable Domains, The Sandbox, and Freename. All bidders, not just winners, will receive participation incentives. Additionally, there will be community quests and tiered engagement rewards, giveaways, competitions, and community events. The Festival also serves as a gateway to deeper protocol participation. Through the Festival and the GBM Community Programme, users can earn points for bidding, selling, completing quests, collecting trophies, badges, NFTs, and other rewards. These incentives ultimately lead to a share of the GBM token when it’s launched. The Auction Festival officially begins on the 30th June 2025.