GBM Launches Auction Festival with Win-Win Model, $200M in Bidding Volume

GBM, an auction protocol dedicated to redefining value distribution onchain, has launched its inaugural Auction Festival in collaboration with top Web3 leaders. This event marks the first phase of GBM’s full protocol launch and upcoming token release, serving as a multi-month celebration of auctions, rewards, and community participation.

The Auction Festival introduces GBM’s proprietary Win-Win auction model, where every bidder is rewarded, not just the winner. This model aims to create a dynamic, trustless, high-engagement environment that fosters genuine price discovery. The event features partnerships with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, and Vision.io, among others. These collaborations highlight the transparency, flexibility, and community engagement that GBM’s auction model offers.

GBM’s Win-Win model operates differently from traditional auctions. It rewards all participants, turning participation into a rewarding act. This approach has been embraced by several leading Web3 projects, which appreciate the model’s 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.”

The Auction Festival is scheduled to run from late June through early September. It will feature live partner auctions, community quests, and protocol-wide incentives. Highlights include participation incentives for all bidders, tiered engagement rewards, giveaways, competitions, and community events. Through the Festival and the GBM Community Programme, users can earn points for various activities, ultimately leading to a share of the GBM token when it is launched.

Hugo McDonaugh, Co-Founder & CEO of 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.”

The Festival is not just an event but also a gateway to deeper protocol participation. Users can learn more about the Festival and the GBM protocol through the official documentation, join the community on Discord, and follow updates on social media. GBM aims to redefine how value is distributed onchain, setting a new standard for price discovery and value alignment across Web3. The protocol has already powered over $200 million in bidding volume and distributed over $6 million in rewards to bidders, proving its model at scale. Trusted by top Web3 ecosystems, GBM is poised to become the next-generation auction layer for crypto-native platforms, making auctions more transparent, engaging, and fair for everyone.