DMCC And Bybit Conclude Successful Second Edition Of Web3 Hackathon With US$160,000 Prize Pool

DMCC and Bybit have successfully wrapped up the second edition of the Middle East's largest Web3 hackathon. This event, held in Dubai, focused on advancing innovations in the Web3 space. With a prize pool increased to US$160,000, 15 innovative startups participated, tackling challenges in tokenisation, AI, and more.

The hackathon aimed to foster practical solutions with real-world applications. Projects were selected for their potential to create significant industry impact. Judges assessed entries based on creativity, technical execution, practicality, business viability, and overall impact.

Five standout projects were recognised for their technical excellence. KelpMe offered a blockchain-based solution for recovering lost private keys and misdirected transactions. Trepa developed a Telegram app using the TON blockchain for secure prediction pools. Mavryk Network introduced a Layer 1 blockchain for asset tokenisation and DeFi applications.

Hive presented a platform that utilises home GPUs for compute-sharing to democratise technology access. Poppin created a browser extension that turns webpages into social hubs for real-time interactions. These projects exemplify the innovative spirit driving Web3 advancements.

Ahmed bin Sulayem, DMCC's Executive Chairman and CEO, highlighted Dubai's leadership in Web3 innovation. He stated that the hackathon showcases why Dubai remains at the forefront of this sector by encouraging practical applications with global talent.

Ben Zhou, Co-founder and CEO of Bybit, expressed pride in collaborating with DMCC to advance Web3 globally. He noted the abundance of talent in Dubai and anticipated that participants would significantly impact the Web3 landscape.

DMCC Crypto Centre Ecosystem

The DMCC Crypto Centre supports over 600 members developing Web3 technologies and related services. It provides essential resources for crypto businesses to establish and expand operations. This makes it the largest hub for crypto and Web3 firms in the region.

This comprehensive ecosystem offers everything entrepreneurs need to thrive in the rapidly evolving crypto landscape. The centre's growth underscores its pivotal role in fostering innovation within the industry.

The hackathon's success highlights Dubai's commitment to being a leader in technological advancements. By nurturing talent and promoting practical solutions, Dubai continues to attract global attention as a hub for innovation in Web3 technologies.

With inputs from WAM