Catenaa, Friday, July 11, 2025- Auction protocol GBM has kicked off its first-ever Auction Festival, a multi-month Web3 event featuring prominent partners including The Sandbox, Aavegotchi, and Unstoppable Domains.
The Auction Festival is a multi-month Web3 event focused on auctions, rewards, and community participation, running from late June through early September.
The event highlights GBM’s Win-Win model, where all participants, not just the highest bidder—receive incentives.
The festival, which began on June 30, marks a major milestone in GBM’s full protocol rollout and upcoming token release. Alongside live auctions, the event includes quests, giveaways, and community rewards designed to increase engagement across the decentralized auction space.
GBM’s model is designed to replace traditional winner-takes-all formats by compensating outbid participants with their full bid plus a bonus. The structure encourages wider participation, eliminates sniping, and enhances genuine price discovery.
Sébastien Borget, co-founder of The Sandbox, said the model added strategy and excitement to virtual land auctions. Sandy Carter of Unstoppable Domains praised the system’s ability to make domain ownership more accessible for new users.
GBM has already powered over $200 million in bidding volume and distributed more than $6 million in rewards across its platform.
The protocol has become a preferred auction partner for leading Web3 projects due to its transparency and community-first approach.
The Auction Festival will run through early September, with users earning points for bidding, completing quests, and engaging in community events. These points will be redeemable for a share of the GBM token upon launch, reinforcing the platform’s commitment to fair and incentivized participation in the Web3 economy.
