You searched for: “potlatch
potlatch
1. Among Indians of the Pacific Northwest, in the United States, a ceremony in which a host destroys or gives away his property to guests, who are expected to reciprocate later with a similar or greater display.
2. A ceremonial feast among certain Native American people of the northwest Pacific coast, for the celebration of a marriage or accession, at which the host distributes gifts according to each guest's rank or status.

Between rival groups, the potlatch could involve extravagant or competitive giving and destruction by the host of valued items as a display of superior wealth.

3. Etymology: from Chinook jargon (1845), "a gift", from Wakashan (Nootka) patshatl, "giving, gift".