Blockchains are a new settlement and ownership layer, one that’s programmable, open, and global by default, unlocking new forms of entrepreneurship, creativity, and infrastructure. Growth in monthly active crypto addresses is generally tracking the
Prediction markets are a hot topic again — even cartoon characters are talking about them (cf South Park). But beyond the buzz, what is a prediction market, exactly? How do they work, how are they designed, and what makes them work?
We answer all
Auctions – ubiquitous in web3, from mining pools to NFTs marketplaces – answer critical questions about pricing, liquidity, and allocation of scarce resources in web3 and beyond. In this two-part talk, Scott Duke Kominers (a16z crypto, Harvard Business School) starts by defining key terms and outlining auction types and the problems they are designed to solve. a16z crypto research engineer Michael Zhu then bridges the gap between theory and practice by digging into the unique constraints and opportunities of fully permissionless blockchain auctions.