DMCC and Bybit’s Web3 Unleashed #2 hackathon ends with five projects winning the grand prize of $160,000.
Hackathons are opportunities for brilliant minds to come together and innovate, and Dubai provides an enabling environment for Web3 innovation to thrive. The city’s forward-thinking policies, strategic partnerships and investment in cutting-edge technologies have attracted top talent and industry leaders from around the world.
Central to this movement is the efforts of the Dubai Multi Commodities Centre (DMCC) and global crypto exchange Bybit, who recently concluded the second edition of the Web3 Unleashed hackathon.
Held on Nov. 20 in Dubai, Web3 Unleashed #2 witnessed 15 finalists competing to develop a unique and creative solution to a real-world challenge. Eventually, five projects emerged as winners to get their share in the $160,000 prize pool.
Five projects climb to the top
During the hackathon, contestants showcased cutting-edge solutions in varying fields, including artificial intelligence, Web3 infrastructure, decentralized physical infrastructure networks (DePIN), digital identity and zero-knowledge protocols. A panel that included industry experts like Gerik Wang from Bybit, Mathias Ruch from CV VC, Dyma Budorin of Hacken, Daniel Zou from the Blockchain for Good Alliance, Zaher El Orm from the DMCC Crypto Centre and Alessia Baumgartner from DWF Labs reviewed projects, taking business potential, creativity and impact into account.
Source: DMCC/X
Among dozens of entrants and 15 finalists, here are the five projects that managed to be top picks:
- KelpMe provides a relieving solution for those who get shivers when reading stories about lost wallet keys or transaction errors. The project developed a mechanism named KELP (Key-Loss Protection), which helps users recover assets in case they lose access to their private keys, eliminating the need for backup measures.
- Trepa is a Telegram-based app operating on the TON blockchain. Trepa offers a blockchain-based prediction market that lets stakers predict the consensus on anything through prediction pools and receive rewards.
- Mavryk Network is a comprehensive blockchain that facilitates enhanced access to real-world assets (RWAs).
- Hive allows users to contribute their computing power to a network with a GPU. This decentralized approach offers a way to curb the influence of Big Tech in computing services.
- Poppin is a browser extension that enables users surfing the same page to interact through live chat and comments.
Source: DMCC/X
Supported by prominent names like DWF Labs, Injective, 1inch and CV VC with Cointelegraph as the media partner, the hackathon was a unique opportunity for innovative projects to gain visibility while contributing meaningfully to blockchain space and Web3.
Contributing to Dubai’s innovative landscape
The event concluded with an afterparty, bringing participants and a crowd of attendees that included investors and industry leaders together. It allowed for a networking space for ideas to be exchanged and partnerships to flourish.
Ahmed Bin Sulayem, CEO of DMCC, believes the hackathon organized by the DMCC-Bybit partnership is both a testament and a valuable contribution to Dubai’s innovative landscape. The CEO said:
“By pioneering new solutions in tokenization, artificial intelligence and zero-knowledge protocols, the DMCC-Bybit hackathon continues to show why Dubai remains at the forefront of Web3 innovation.”
Web3 Unleashed #2 established a platform for fostering collaboration and innovation in the Web3 space. By bringing creative talents with industry leaders together in an opportune city, the event presented a precious opportunity for projects to develop solutions that can take Web3 to the next level.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.