Bybit and DMCC Announce $1M Hackathon to Drive Web3 Innovation in Dubai
Crypto exchange Bybit and the Dubai Multi Commodity Centre (DMCC) have joined forces to host a hackathon aimed at driving Web3 innovation in Dubai. The event, called “Web3 Unleashed: Crypto Innovation Challenge,” was announced on September 27 and is set to take place on November 22. It will focus on key areas such as artificial intelligence (AI), gaming, and blockchain security.
Bybit’s Bryan Aaron and Daniel Basharimov are scheduled to serve as adjudicators at the hackathon, according to a press release from Invezz. Bybit and DMCC established a partnership in June of this year, with Bybit becoming the official ecosystem partner for the Dubai trade zone. The DMCC Crypto Centre, a leading destination for Web3 in the MENA region, is also a part of this collaboration.
As part of their partnership, Bybit and DMCC have committed to supporting the overall growth of the crypto community in the region. Bybit has already backed 15 crypto startups within the DMCC with a total of AED 500,000 in financial support. In addition, startups benefit from Bybit’s role as the DMCC crypto listing partner, gaining access to the exchange’s market expertise and mentorship. This collaboration has helped many projects bootstrap their growth.
Bybit co-founder and CEO Ben Zhou emphasized the exchange’s commitment to supporting the members of the DMCC Crypto Centre in Dubai’s evolving crypto landscape. He described the hackathon as an important initiative that fosters a supportive environment for young talent to emerge and grow. Zhou compared Bybit to a “Crypto Ark” that provides a safe space for the development of the crypto industry.
Participants interested in taking part in the hackathon can register between September 26 and October 26, 2023. Accepted projects will include those focused on blockchain infrastructure, decentralized finance (DeFi), non-fungible tokens (NFTs), the metaverse, AI, sustainable blockchain solutions, and crypto gaming.
The announcement of the hackathon reflects Bybit and DMCC’s shared commitment to driving innovation and advancement in the Web3 ecosystem in Dubai. By providing a platform for collaboration and competition, the event aims to spur the development of groundbreaking ideas and projects in the crypto space. It presents an exciting opportunity for entrepreneurs, developers, and innovators to showcase their skills and contribute to the growth of Dubai’s crypto community.
For more information and to register for the hackathon, interested individuals can visit the official Bybit website. The event promises to be a significant milestone in the ongoing evolution of Dubai as a leading hub for Web3 innovation and crypto development.
