In the context of Web3 and blockchain technology, bidding typically refers to the process employed in various digital marketplaces, primarily for NFTs (Non-Fungible Tokens) or decentralized finance (DeFi). Bidders submit their offers, which may be in the form of cryptocurrencies or tokens, with the aim of acquiring specific digital assets. The bidding process can follow different structures, including English auctions (where bids incrementally increase) and Dutch auctions (where the starting price decreases until someone accepts it). Each bid is recorded on the blockchain, ensuring transparency and immutability.