The Dubai Multi Commodities Centre (DMCC) and cryptocurrency exchange Bybit have opened applications for their third annual Web3 hackathon, Web3 Unleashed #3. The competition offers a $140,000 prize pool and aims to foster innovation in the Web3 space.
This year’s event expands on previous successes by adding two new tracks: DeFAI, combining decentralized finance and artificial intelligence, and DeSci, concentrating on decentralized science and research. These additions join existing tracks focused on DeFi, Web3 gaming, SocialFi, infrastructure, and tokenization.
DMCC and Bybit collaborated with several industry partners, including DWF Labs, Hacken, Cointelegraph, The Open Platform, Blockchain for Good Alliance (BGA), Verse8, CROSS, Blockchain Game Alliance (BGA), and CV Labs. This partnership provides a robust platform connecting developers, entrepreneurs, and investors.
Ahmed Bin Sulayem, CEO of DMCC, highlighted the growing Web3 market and Dubai‘s role in driving innovation. He emphasized DMCC‘s thriving tech ecosystem, which includes numerous companies specializing in crypto and AI. The hackathon, he suggested, solidifies Dubai‘s position as a hub for Web3 development.
Ben Zhou, co-founder and CEO of Bybit, expressed enthusiasm for the hackathon’s continued growth. He noted the event’s importance as a platform for showcasing innovative Web3 ideas. The focus on diverse tracks reflects the dynamic nature of the Web3 ecosystem.
Applications opened on September 1st and will close on October 5th. The top five teams, selected after a remote evaluation process, will participate in a live demo day in Dubai on November 26th at S/O Uptown Dubai. Finalists will present their projects to investors and industry experts.
The DMCC Crypto Centre, with over 700 members, plays a significant role in supporting Web3 development. It offers resources such as licensing, co-working spaces, and regulatory support. DMCC‘s broader tech ecosystem hosts over 3,300 companies, making it a prominent innovation hub in the MENA region.
The hackathon timeline includes application submission, remote screening, announcement of top projects, and the final demo day and celebration. Interested participants can submit applications through the designated online portal.
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