GBM™ is a proprietary auction system where bidders make money when they are outbid.Watch Video
In a typical auction there is only one winner and everyone else loses. Many auctions don’t attract enough bidders and some get none at all. GBM™ turns any auction into a great experience where you either win or you make money.
You place a bid, and if someone outbids you, you get your bid back, plus a share from the pot called an incentive.
When a new bid is placed, a formula calculates how much money the bidder will earn as an incentive if they are outbid. This is customisable depending on how much you want bidders to earn. Every bidder that gets outbid earns an incentive, and the highest bidder at the end of the auction wins, with the seller receiving what is left in the pot.Watch Video
The GBM™ auction is suitable for selling almost anything that uses a traditional English auction. Our library works with both centralised databases and blockchain applications.
Beyond generating more activity and better prices, GBM™ auctions also remove the advantage of bots by eliminating the emphasis on speed, creating a fairer system for selling assets on your platform.
First used in 2020 by Cryptograph selling NFT digital artwork by icons such as Adrien Brody, Paris Hilton, Ashton Kutcher and Ethereum creator Vitalik Buterin. GBM™ has now been implemented into the blockchain game giant Aavegotchi and the upcoming myNFT marketplace.
Previously using a fixed price, first-come-first-serve solution, which gave an advantage to bots and left users frustrated, Aavegotchi has now implemented GBM™ auctions to release their new in-game assets. Now, every participant in an Aavegotchi sale either makes money or wins the auction, making the drop a fun and exciting experience for everyone!
Advice from global experts on implementing the GBM™ auction system with your product or service
Help with implementation and communication of the GBM™ auction system to your audience
Access to new features and insights on how to further improve your system with GBM™
A competitive advantage for your business that unlocks more value from the assets sold on your platform
To talk to our experts about a license to power your business with a GBM™ auction.