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Add GBM Auctions dApp as a stand-alone Decentraland auction house

PassedDraft

Proposal Details

Author0x89a1…99a9
PublishedFeb 01, 2024 20:58
Voting beginsFeb 01, 2024 20:58
Voting endsFeb 08, 2024 20:58
Snapshot#0811e7e

Description

The Decentraland marketplace currently does not offer any type of auctioning. Auctions are a great price discovery tool for rarer items, ensuring sellers get the best market price. GBM Auctions is an incentivized auction mechanism where bidders make money when they are outbid- it’s a battle-tested product with over 70,000 auctions completed and over $200m in bidding volume. We believe the outcome of adding GBM will mean more activity on the marketplace, both in terms of listing items and people bidding and also better sales prices – all while members get a more rewarding experience earning $MANA.

7 Comments

daoFeb 08, 2024

Add GBM Auctions dApp as a stand-alone Decentraland auction house This proposal is now in status: PASSED. Voting Results: * Yes 99% 5,668,858 VP (55 votes) * No 0% 0 VP (1 votes) * Abstain 1% 2 VP (2 votes)

szjankoFeb 05, 2024

@DedHeadJ The original plan was to do a poll proposal and then post it to Canny, but I spoke with the Facilitation Squad and was informed to do the 3 stage governance process for this since it has to do with the marketplace. I am aware that this is not a proposal that the DAO Committee enacts, but I guess it falls into a gray area since it has to do with the marketplace (a gray area in terms of if the foundation will implement it). Will go through the last stage of the governance proposal at this point, and we can also post it to Canny if the foundation will require that before considering implementing this.

DedHeadJFeb 04, 2024

Reminds me that maybe we can have a poll that goes direct to Canny for foundation review when it passes? Not sure how it would work but I think a poll to collect community sentiment and if that passes it goes to Canny for Foundation review. Still unsure why we need a governance process for such requests? @HPrivakos

CameronGBMFeb 03, 2024

Being hosted on a DCL domain has always been part of this proposal, was in the stage 1 poll and written in the above stage 2 proposal too, as well as being mentioned during the demo video link. We were advised to go through the formal governance procedure by them- but happy to have a conversation with the Foundation if there is a better way to speak to them.

HPrivakosFeb 03, 2024

[quote="CameronGBM, post:3, topic:21841"] The foundation would host it under an official Decentraland domain for more credibility and reach e.g. [auction.decentraland.org](http://auction.decentraland.org) and it would also be DCL branded. [/quote] Did you ask and get approval from the Foundation for that? The DAO has no power over this.

CameronGBMFeb 03, 2024

Hey @HPrivakos There's a few reasons here When we say stand-alone we mean it's part of the Decentraland ecosystem, just not fully integrated within the marketplace itself. A deeper whitelabel integration can be looked at later as that also had good support in the original poll- the standalone dApp could be the first step and prove out the model. Setting it up this way for now means DCL and the foundation remains in control, we are not having to rely on a third party marketplace (and first get that third party to integrate GBM themselves). The foundation would host it under an official Decentraland domain for more credibility and reach e.g. auction.decentraland.org and it would also be DCL branded. Since DCL is setting this up within their ecosystem, they can also add in their own transaction fee so the DAO unlocks a revenue stream rather then giving it to a third party. They can also use it for Primary issuances if they wish to auction new drops. Finally by being controlled, hosted and set up by DCL (even though the set up should be fairly straightforward) they can promote and the use of bidding/earning in $MANA, again something they would not have control over on other marketplaces.

HPrivakosFeb 02, 2024

Why is this proposal needed if this is done as a stand-alone? You don't need DAO permission to do a marketplace auctioning DCL assets.