# The theory and practice of web3 auctions

> 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 outlin...

- URL: https://a16zcrypto.com/posts/videos/the-theory-and-practice-of-web3-auctions
- Authors: [Michael Zhu](https://a16zcrypto.com/team/michael-zhu), [Scott Duke Kominers](https://a16zcrypto.com/team/scott-kominers)
- Published: 2023-06-02
- Updated: 2025-01-29
- Focus areas: company building, research
- Tags: auction design, crypto basics, CSX 2023, video
- Format: videos

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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.

[Embedded media](https://www.youtube.com/embed/eK3IvkJqckY?feature=oembed)

**More from:**

-   [Crypto Startup School ‘23](https://www.youtube.com/playlist?list=PLjQ9HCQMu_8ywq3VUso7i_-TOx6RKXQeQ)
-   [Crypto Startup School ‘20](https://www.youtube.com/playlist?list=PLjQ9HCQMu_8wCvA0s9yW2dXg1jkFlPs7Z)
-   Michael: [https://twitter.com/moodlezoup](https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbjNydFhaeC1LWmtfekdJeGpNeGJmWFFZalhZQXxBQ3Jtc0ttTnFZQWhTQWk3R2J4U0psUmIteUNmWXhOS0pNR1E2bGxtYXBVaGtIcHRQdU1JeGw3ZHVsSVNFN3lhNGR0RDdjQUVKZHJBa2tTTW9DS3p3eFdia3lXdXZob21FUTIyYW5ZTzBocnM3NllJYkdkUWVrQQ&q=https%3A%2F%2Ftwitter.com%2Fmoodlezoup&v=eK3IvkJqckY)
-   Scott: [https://twitter.com/skominers](https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbEI3MDNQc0hWdFlXQm1sQVRIME9DZGFoNTFBZ3xBQ3Jtc0tsRGFLeTExbU01LXJFc3g0eGFUSHUwV2c2NjROaWJWRFBBbXl0d05QUGNDelJjYlM3VVVtOHBGSzVfOGczS2ZTb3c1WUs0cTFpUXhablQzTmpOcEE1N1U1Y1M4cjVfcFJMdUdYeFZvbjlZMXJQRm1UQQ&q=https%3A%2F%2Ftwitter.com%2Fskominers&v=eK3IvkJqckY)

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Source: [The theory and practice of web3 auctions](https://a16zcrypto.com/posts/videos/the-theory-and-practice-of-web3-auctions) — a16z crypto. Full archive: https://a16zcrypto.com/posts