Are you raring to nab some games on Steam but unwilling to wait for the upcoming Steam sale? Well, perhaps the Steam Holiday Auction is just what you need. This intriguing event, which just launched this afternoon, allows Steam users to get rid of their mostly useless backgrounds, emotes, and Trading Cards to turn them into gems.
What do gems do? They act as a new fake form of currency which you then use to place bids on one of 200,000 game auctions. These auctions are live right now and you can bid until the 15th at 7:45 AM PST. At that point the winning bidders will receive their game and new auctions will continue to turn over every 45 minutes.
It's an interesting concept, but it's already seeing many high gem bids placed which cuts out the fun for most average users. However, at this time there's still a lot of cheap auctions so keep an eye out! You can also spend gems on the Booster Pack Creator if that's more up your alley.