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Built for web3, GBM™ is the auction where bidders make money when they are outbid.
Built for web3, GBM™ is the auction where bidders make money when they are outbid.
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, the GBM™ formula calculates how much money that bidder will earn 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 VideoThe GBM™ auction is suitable for selling almost anything that traditionally uses an English auction, Dutch auction or even a fixed-price sale. 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 Aavegotchi and the upcoming myNFT marketplace.
Previously using a fixed price, first-come-first-serve solution, which gave an unfair advantage to bots and left their community frustrated, Aavegotchi has now implemented GBM™ auctions for all their NFT releases.
Advice from global experts on the best way to implement the GBM™ auction system into your product or service
Direct line with our team to help you with the implementation and communication to your audience
Data analytics for every drop, insights and access to new GBM™ features as they come out
A competitive advantage for your business that unlocks more value for you and your platform
Talk to our experts about getting a license to power your business with GBM™.
