The Sandbox Launches Largest-Ever LAND Auction

ChainCatcher reports, according to Cointelegraph, that the metaverse platform The Sandbox has announced a partnership with GBM Auctions to launch its largest LAND auction to date. This auction includes 110 virtual land parcels (including 4 exclusive estate plots) and 220 avatars from 22 IP brands, with all assets to be distributed through GBM’s “win-win” auction protocol.

This auction adopts an innovative model in which unsuccessful bidders receive incentive rewards, aiming to transform the traditional NFT sales model. The auction starts on July 15 and runs until July 22. This marks the first time The Sandbox has held an auction prior to a public sale on the platform, signifying a major shift in its asset distribution strategy.