The inaugural Auction Festival by GBM is set to transform onchain auctions through its Win-Win model, which rewards all bidders rather than just the winner. By collaborating with prominent Web3 partners, the festival aims to demonstrate innovative auction mechanics while allowing participants to earn rewards and unlock incentives. This event showcases a departure from traditional zero-sum auction models that often disenfranchise bidders. The Win-Win approach redefines market dynamics, enabling better price discovery and increased community involvement in auctions, marking a significant step ahead of GBM's protocol launch.
"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."
"This is a zero-sum model that creates friction, fosters sniping, and kills genuine price discovery, often leading to both sides being disenfranchised."
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