DMCC And Bybit Celebrate Winners Of Third Web3 Hackathon With US$140,000 Prize Pool

DMCC, a prominent international business hub in Dubai, and Bybit, a leading global crypto exchange, recently concluded their third Web3 hackathon. This event awarded US$140,000 to the region's most promising decentralised projects. Held at S/O Uptown Dubai, it brought together innovators and industry leaders under the theme of driving the future of decentralisation.

The hackathon introduced new tracks this year: DeFAI and DeSci. These additions expanded the competition to six focus areas, including DeFi, Web3 Gaming, SocialFi, Infrastructure, and Tokenisation. Ten finalist teams showcased their projects to a panel of experts, competing for a share of the prize pool.

Ahmed Bin Sulayem, DMCC's Executive Chairman and CEO, highlighted Dubai's role as a global centre for next-gen technologies. He stated that the hackathon has evolved from a regional concept into a global reference point for Web3 innovation. The introduction of DeFAI and DeSci reflects DMCC's commitment to shaping the future of decentralised innovation.

Helen Liu, Co-CEO of Bybit, noted the rapid advancement of the Web3 ecosystem in the UAE. She emphasised that each year sees an increase in technical depth and global calibre among participating teams. Liu remarked on Bitcoin’s pullback as a reminder that blockchain progress requires patience from founders and builders.

The hackathon was co-organised with Bybit and supported by partners like DWF Labs, CROSS, Verse8, The Open Platform, Blockchain for Good Alliance (BGA), CV Labs, Hacken, Cointelegraph and Blockchain Gaming Alliance (BGA). These partners provided mentorship and resources to participating teams throughout the competition.

The DMCC Crypto Centre is home to over 700 member companies developing Web3 technologies. It offers everything crypto businesses need to establish and grow their operations. This makes it the largest concentration of crypto firms in the region.

Winners Announced

The five winning teams were Yumi Finance, Glint Analytics, Sorachain AI, Aurayale and Spout Finance. Their projects stood out among ten finalists who presented their ideas to industry experts.

Bybit is headquartered in Dubai and ranks as the world's second-largest crypto exchange by trading volume. It serves over 50 million users globally. Bybit remains committed to supporting innovators focused on real utility and sustainable impact within the blockchain industry.

This year's hackathon demonstrated Dubai's growing influence in digital economies through collaboration between DMCC and Bybit. The event highlighted how Dubai continues to be a leading force in technological advancements by fostering an environment where world-class talent can thrive.

With inputs from WAM