Bybit and the Dubai Multi Commodities Centre (DMCC) Crypto Centre are hosting the largest Web3 and blockchain hackathon in the MENA region, with a prize pool of 100,000 USDT. Participants will develop solutions for real-world problems using Web3, AI, zero-knowledge protocols, digital identity, and more. Applications are open from September 1 to October 5, 2024, with the top ten teams pitching on Demo Day on November 20. Supported by partners like Hacken, DWF Labs, and Cointelegraph, the hackathon aims to drive innovation and democratize technology in the Web3 space, following a successful inaugural event last year.
Accelerating the Rise of Web3 in MENA
The hackathon is part of Bybit and DMCC’s broader initiatives to bring Web3 opportunities within reach to changemakers and entrepreneurs in the region. Through collaborations including the annual hackathon and an upcoming flagship conference in the making, Bybit joins the DMCC crypto ecosystem to foster the next generation of talent and next phase of growth.
The strategic partnership saw renewed energy this year between Bybit, DMCC, and the wider crypto community as Dubai morphs into a regional hub for Web3 opportunities. The transformative power of the digital economy beckons, and the golden city is well placed to lead in blockchain innovation and transform the digital asset space.
Helen Liu, Chief Operating Officer at Bybit, said: “Imagination is crucial in the Web3 space, and we look forward to big ideas coming out of this year’s Bybit-DMCC Hackathon. Bybit and DMCC are renewing our young traditions of uplifting creative minds and entrepreneurship. Bybit is headquartered in Dubai and it is truly an honor for us to support the brilliant talent coming out of MENA here at home.”
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said: “DMCC Crypto Centre’s collaboration with Bybit for this latest hackathon underscores our commitment to furthering the development and adoption of cutting-edge solutions that will shape the future of the digital economy As our second edition with Bybit in less than 12 months, this event will not only provide USD 100,000 for the most successful Web3 firms, but also incentivise and drive the next wave of Web3 innovation from the heart of DMCC’s integrated tech ecosystem. It is yet another testament to Dubai’s unmatched position as the epicentre of next-gen technological advancements.”
The synergy put Bybit and DMCC’s Web3 push on the fast track with a focus on catalyzing growth for the industry in the city of gold. In August, Bybit was recognised as the first organization to take on an advisory role at the DMCC Crypto Centre. From financial incentives to ecosystem support, Bybit platforms MENA-based entrepreneurs and champions their success in the Web3 space.
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