A New Way to Bid on LAND: Introducing GBM’s Bid-to-Earn Model
We’re always looking for better ways to optimize our platform to help you get the LAND of your dreams.
LAND has always been a cornerstone of our platform, empowering users to stake their claim in The Sandbox Metaverse. LAND Owners enjoy more rewards and airdrops and can build games, self-publish experiences, and own a piece of a scarce resource (only 166,464 LANDs will ever be available). Plus, LAND Owners get early access to events, partnerships with 400+ brands, and VIP gatherings.
As the ecosystem continues to grow and new neighborhoods are unveiled, we’re always iterating our process to ensure everyone has a fair shot at securing their ideal plot of LAND.
Today, we’re excited to announce that we’re testing a new way to optimize the LAND auction experience. Through a partnership with GBM, a groundbreaking protocol designed to reward participants even when outbid, we’re attempting to alleviate some of the challenges with conventional auction systems.
Why Try a New Auction System?
Over the years, we’ve tried different auction models, continually iterating and improving upon the format as we receive feedback from the community. We hope to offer a fair, transparent auction system that provides a seamless user experience. That’s why we’re exploring a new partnership with GBM, an auction system that reimagines traditional bidding.
GBM: “Win, Even When You Lose”
GBM is a Bid-to-Earn platform where even when a participant is outbid, they still make money!
Unlike the English Auction model (traditional ascending auctions), where bids can be sniped at the last second, or Dutch auctions (descending price auctions) where bots can identify when a bid is coming and place one before you’re able, the Bid-to-Earn system allows for only two possibilities: Win the auction, or get outbid — but still walk away with a reward!
That’s the magic of a GBM auction, even when you lose the bid, you still earn a reward. Here’s how it works:
- When you place a bid, a formula calculates the incentive you’ll earn if you’re outbid.
- If someone outbids you, you get your full bid back plus the incentive, sent directly to your wallet in real-time.
- You can decide whether to place another bid or keep the reward, the choice is yours!
This system doesn’t just incentivize participation; it ensures that every bidder walks away with something, whether they win the LAND or not.
Ready to Bid?
Owning LAND is about more than just staking your claim in The Sandbox Metaverse; it’s a gateway to endless possibilities. Join a vibrant ecosystem, monetize your creations, and connect with fellow creators today!
From February 12 at 9 a.m. UTC to February 14 at 5 p.m. UTC, a special LAND Sale is taking place, giving users the chance to acquire premium plots. Attendees at NFT Paris can also place bids directly at our booth!
This auction is the only way to secure 3x3 and 6x6 LANDs, which cannot be purchased otherwise:
- 1x1 LAND: View on the map
- 3x3 LAND: View on the map
- 6x6 LAND: View on the map
These premium LANDs come with some incredible neighbors, including Lionsgate, Playboy, Warner Music Group, and The Walking Dead.
The LAND of your dreams is just a few bids away, and with GBM, you’re sure to walk away happy no matter the outcome. Check out the latest auctions and place your bid!
Note: GBM implemented a feature called Hammer Time to prevent bots from sniping in the last seconds and give everyone a fair chance. With Hammer Time, any bids placed in the final 10 minutes of the auction will reset the auction timer to 10 minutes, so there will always be at least 10 minutes between a new bid and the end of the auction.
We’re committed to optimizing the auction system and making it as fair and rewarding as possible for our community. Your feedback on this new system will be invaluable, so don’t hesitate to share your thoughts. Let’s continue building The Sandbox Metaverse together, one LAND at a time.
