London, UK, 26th June 2025, Chainwire – GBM, the auction protocol reinventing how value is distributed onchain, has announced the launch of its inaugural Auction Festival, a multi-month celebration of auctions, rewards, and community participation.
The Festival kicks off in partnership with leading Web3 names, including The Sandbox, Aavegotchi, Unstoppable Domains, Song a Day, Vision.io, and more, all showcasing the power of GBM’s proprietary Win-Win auction model, where every bidder gets rewarded, not just the winner.
This event marks the first phase of GBM’s full protocol launch and upcoming token release. Alongside the auctions, participants can engage in quests, earn incentives, and unlock exclusive rewards, all designed to showcase GBM’s next-generation auction mechanics ahead of its full protocol launch.
A New Standard for Onchain Auctions
Traditional auctions reward only the highest bidder, leaving everyone else with nothing, despite shared exertion in their time, capital, and interest. This is a zero-sum model that creates friction, fosters sniping, and kills genuine price discovery, often leading to both sides being disenfranchised. This winner-takes-all model is broken, and GBM introduces a paradigm shift with its Win-Win model.
With the GBM auction, outbid participants receive their full bid back along with an incentive, turning participation into a rewarding act. This flips the traditional format on its head, creating a dynamic, trustless, high-engagement environment where competition drives true market discovery, not manipulation or luck.
Already, several leading Web3 projects have embraced GBM’s Win-Win model for its transparency, flexibility, and ability to engage communities without extractive mechanics.
“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.” – Sandy Carter, COO, Unstoppable Domains
“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.” – Sébastien Borget, Co-Founder & COO, The Sandbox
For GBM, The Auction Festival is a milestone in the protocol’s evolution.
“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.” – Hugo McDonaugh, Co-Founder & CEO, GBM
A Festival That Rewards Participation
The Auction Festival will run from late June through to early September, bringing together partner-led auctions, community quests, and protocol-wide incentives. Highlights include:
The Festival is also 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.
To learn more about the GBM Protocol and the Auction Festival
The Auction Festival officially begins on the 30th June 2025.
GBM is the auction protocol redefining how value is distributed onchain. At the heart of GBM is its innovative Win-Win auction model, which rewards every participant, not just the winner. This sets a new standard for price discovery and value alignment across Web3.
To date, GBM has powered $200M+ in bidding volume and distributed over $6M in rewards to bidders, proving its model at scale.
Trusted by top Web3 ecosystems including The Sandbox, Aavegotchi, and Unstoppable Domains, GBM is the next-generation auction layer for crypto-native platforms – making auctions more transparent, engaging, and fair for everyone.
