DMCC, Dubai’s flagship free zone and commodities trade authority, in partnership with global crypto exchange Bybit, has announced the launch of their second joint hackathon, offering a $100,000 prize for the most innovative Web3 businesses.
This event follows the success of their first hackathon in November 2023, which spotlighted innovations across Web3, including AI, gaming, and information security.
Scheduled for 20 November 2024 at DMCC’s Uptown Tower headquarters, the hackathon invites up to 10 teams to compete in developing cutting-edge solutions in tokenization, AI, Web3 infrastructure, zero-knowledge protocols, digital identity, and decentralized physical infrastructure networks (DePIN).
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasized the significance of this event, stating,
"Our collaboration with Bybit for this hackathon underscores our commitment to advancing the digital economy. This event not only offers $100,000 for the top Web3 innovations but also drives the next wave of technological advancements from DMCC’s tech ecosystem."
Bybit’s Co-founder and CEO, Ben Zhou, highlighted the importance of nurturing Dubai’s Web3 community, noting,
"Hackathons are a fantastic way to tap into and grow the thriving Web3 ecosystem in Dubai, aligning with our global expansion strategy."
The hackathon is supported by partners including DWF Labs, Meezan Ventures, Injective, and Hacken, with Cointelegraph serving as the media partner.
DMCC Crypto Centre, with over 600 members, is the largest concentration of crypto and Web3 firms in the region, providing a comprehensive ecosystem for businesses to scale their operations. Bybit, headquartered in Dubai, is the world’s second-largest crypto exchange by trading volume, serving over 40 million users globally.
News Source: Dubai Media Office
