In a groundbreaking move to promote innovation in the world of Web3 and cryptocurrency, global crypto exchange Bybit and the Dubai Multi Commodity Centre (DMCC) have jointly announced the “Web3 Unleashed: Crypto Innovation Challenge” hackathon, featuring an impressive prize pool of $100,000. This exciting development follows the recent partnership between the two entities, which has already seen Bybit contribute AED 500,000 to support 15 promising crypto startups within the DMCC crypto ecosystem.
Scheduled to take place on November 22, 2023, this eagerly awaited hackathon will be overseen by Bybit’s distinguished thought leaders, Bryan Aaron and Daniel Basharimov. The event will revolve around three key themes: artificial intelligence, gaming, and blockchain security, making it a pioneering initiative set to become the largest of its kind in the Middle East and North Africa (MENA) region, both in terms of prize money and participation.
The collaboration between Bybit and DMCC, which was officially initiated in June 2023, represents a strategic alliance aimed at accelerating the widespread adoption of cryptocurrencies within the vibrant heart of Dubai. Bybit, a global force in the crypto space with 16 million users worldwide, is deeply committed to fostering the growth of the crypto industry within the emirate.
This partnership saw Bybit being designated as an official Ecosystem Partner for the DMCC Crypto Centre, a thriving hub for crypto and Web3 businesses. The center serves as a dynamic breeding ground for innovation and provides crucial support for startups. Beyond just financial backing, Bybit has also stepped in as DMCC’s crypto listing partner, extending its support to help startups initiate their growth journeys while offering mentorship opportunities.
Prospective participants have the opportunity to register for the hackathon from September 26, 2023, to October 26, 2023, with the main event slated for November 22, 2023. The competition welcomes a diverse range of projects spanning Blockchain Infrastructure, Artificial Intelligence (AI), DeFi, NFTs, Metaverse, Crypto Gaming, Sustainable Blockchain Solutions, and much more.
In the rapidly evolving crypto landscape of Dubai, Bybit has positioned itself as the “Crypto Ark,” ready to guide and empower companies associated with the DMCC Crypto Centre in realizing their dreams. Ben Zhou, co-founder and CEO of Bybit, commented on the importance of this hackathon, saying, “This hackathon is just one of the many projects we are collaborating on with DMCC, and it is of utmost significance as it provides a nurturing environment for emerging young talent to flourish.”
With its unwavering commitment to fostering innovation, Bybit, in partnership with DMCC, aims to propel Dubai to the forefront of the global Web3 and cryptocurrency ecosystem. The “Web3 Unleashed: Crypto Innovation Challenge” hackathon promises to be a landmark event that will catalyze groundbreaking advancements and support the growth of the crypto community in the region.
