According to ChainCatcher, citing Cointelegraph, the metaverse platform The Sandbox announced a partnership with GBM Auctions to launch its largest LAND auction to date. The auction includes 110 virtual land parcels (including 4 exclusive estate plots) and 220 virtual avatars from 22 IP brands, with all assets to be distributed through GBM's "win-win" auction protocol.
This auction adopts an innovative model where unsuccessful bidders can receive incentive rewards, aiming to change the traditional Non-Fungible Token sales model. The auction will start on July 15 and continue until July 22. This marks the first time The Sandbox has conducted an auction before a public platform sale, signifying a significant shift in its asset distribution strategy.
