Bybit and DMCC launch $100k hackathon to fuel Web3 innovation in Dubai

• Bybit and DMCC have unveiled a $100,000 “Web3 Unleashed” hackathon.
• The hackathon focuses on AI, gaming, and blockchain security.
• The partnership aims to boost crypto adoption in Dubai and includes Bybit’s AED 500,000 investment in 15 DMCC crypto startups.

In a move set to ignite Dubai’s crypto landscape, global crypto exchange Bybit and the Dubai Multi Commodity Centre (DMCC) have joined forces to launch the “Web3 Unleashed: Crypto Innovation Challenge” hackathon.

This exciting hackathon boasts a substantial $100,000 prize pool and comes as part of their ongoing partnership to accelerate crypto adoption in Dubai.

Fostering Web3 innovation in Dubai

Bybit, which entered Dubai in 2022, and DMCC have been making waves since forming a strategic partnership in June 2023. Bybit’s commitment to the cause is evident through its contribution of AED 500,000 to 15 crypto startups within the DMCC crypto ecosystem.

Their collaboration symbolizes a milestone as Bybit takes its place as the official Ecosystem Partner for the DMCC Crypto Centre, a vibrant hub for crypto and Web3 businesses to thrive and innovate.

The Web3 Unleashed: Crypto Innovation Challenge hackathon

Scheduled for November 22, 2023, the “Web3 Unleashed: Crypto Innovation Challenge” is set to become the largest of its kind in the MENA region.

With a laser focus on artificial intelligence, gaming, and blockchain security, the hackathon aims to inspire and empower the next generation of crypto innovators.

Registration for the event was open from September 26 to October 26, 2023, welcoming projects from diverse domains, including Blockchain Infrastructure, AI, DeFi, NFTs, Metaverse, Crypto Gaming, Sustainable Blockchain Solutions, and more.

Ben Zhou, co-founder and CEO of Bybit, emphasized the significance of the hackathon in Dubai’s evolving crypto landscape, dubbing Bybit the “Crypto Ark” ready to support DMCC Crypto Centre members in realizing their dreams. This initiative is not just about financial support; it goes beyond offering mentorship and fostering an atmosphere for young talent to flourish.