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DomainSherpa – Down The Rabbit Hole – July 18, 2024: Passport to Earn

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CHAPTER

Revolutionizing Domain Auctions with Crypto and Web3 Technology

Hugo McDonald, founder and CEO of GBM auctions, discusses the launch of the GBM domains platform that leverages Coinbase's network for tokenizing domains. The chapter explores the use of crypto in auctions to prevent fraud, the benefits of blockchain for auction systems, and the transition from NFT auction systems to entering the domain industry. It delves into the concept of bid to earn dynamics in live auctions, incentivized bidding markets, and the importance of integrating Web3 technology to enhance traditional domain markets.

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