Welcome to Web 3 with A6 and Z, a show about the next internet from the team at A6 and

Z. That includes me, your host, Sonal Chaxi.

This show is for anyone, whether developer, artist, community leader, or other builder,

seeking to understand and go deeper on all things crypto and web 3.

In this episode, we go into all things auctions, which broadly

defined are simply ways of selling and allocating scarce things, which applies in

web 3 context to everything from NFT mints to Blockchains, which we'll go into in this episode,

including an overview of the technical challenges specific to mechanism design in a permission

list context.

We also provide a quick overview of auction types and

incentive design and how it works in both theory and practice, including the nuances of

market clearing prices, gas wars, and more, sharing trade-offs, choices, and principals

for builders designing these systems throughout.

Our expert guests are Scott Commoners, a six-and-cinct-and-Z crypto research partner, and professor at Harvard Business School

who specializes in market, marketplace, and incentive design, and Tim Ruff Garden, head of research

at A6 and Z crypto and professor at Columbia who led the development of the

field of algorithmic game theory which brings together computer science and

economics to solve real world computing problems. Among other things both are

experts in market designs and auction theory and are also advisors to several crypto projects and protocols.

Before we begin, this conversation includes a brief mention of lotteries which are sometimes used in conjunction with auctions,

and which we kept for educational purposes only.

Note there are some questions about the legality of such mechanisms like sweepstakes that

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