MENA’s Flagship Web3 Hackathon Takes Place in Dubai
Nov. 25, 2024, DUBAI, United Arab Emirates — In collaboration with DMCC (Dubai Multi Commodities Centre) Crypto Centre, Bybit, the second-largest cryptocurrency exchange globally in terms of trading volume, successfully wrapped off MENA’s top Web3 hackathon in Dubai on November 20. The event, which captivated a live audience and over 30,000 online spectators, saw 15 creative project teams showcase their ground-breaking concepts to a prestigious panel of Web3 experts and leaders in the crypto business.
The Grand Finale: Honoring Creativity
After a full day of events, including an interesting panel discussion on the future of Web3 technology and its revolutionary applications, the Web3 Unleashed hackathon came to an end. The occasion demonstrated blockchain’s enormous potential to transform sectors and propel social advancement.
“As an Ecosystem and Advisory Partner of DMCC, I thank DMCC and all of our partners for embarking on this journey with Bybit in advancing blockchain technology as a force for good,” said Helen Liu, Chief Operating Officer of Bybit. These teams’ tales and inventions show how deeply optimistic they are about the future. We have the honor of seeing these global influencers in action right here in Dubai.
Developing Blockchain Technology for the Future
The hackathon demonstrated Bybit’s dedication to using blockchain technology for creative and useful solutions, as well as the BUIDL philosophy of the cryptocurrency community. Bybit continues to give priority to initiatives that seek to address societal and economic issues through collaborations such as those with DMCC.
Highlighting Five Innovative Initiatives
By using blockchain technology to solve practical issues, Web3 Unleashed has solidified its position as the area’s top Web3 hackathon. Among the noteworthy initiatives honored this year were:
KelpMe: A blockchain-based solution that provides a reactive recovery mechanism for assets without proactive backups, including misdirected transactions and private key loss. (USA, Greece, UAE)
Trepa: A TON-powered Telegram app that lets users stake tokens, anticipate majority views, and get incentives. (South Korea, Singapore)
Mavryk Network: A Layer 1 blockchain that uses DeFi apps, RWA, and strong infrastructure to revolutionize asset ownership and tokenization. (Dubai, Singapore, Paris, Kiev, Gibraltar, and Tel Aviv)
Hive: A system that democratizes access to technology by enabling people to share hardware resources like GPUs. (Bengal, Abu Dhabi)
Poppin: A browser add-on that turns any website into a social media center complete with audio feeds, chats, and comments. (Turkey)
Advancing the Web3 Ecosystem in Dubai
In his keynote speech, Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasized Dubai’s position as a global center for Web3 innovation. “With its innovative solutions in tokenization, artificial intelligence, Web3 infrastructure, and digital identity, the DMCC-Bybit Hackathon places Dubai at the forefront of Web3 innovation,” he said. The DMCC Crypto Center’s dedication to promoting meaningful innovation is demonstrated by this event.
Acknowledging Talent and Innovation
With a combined prize fund of more than 160,000 USDT, the five winning teams have the means to advance their endeavors. These teams also had the chance to network with prominent figures in the area and received priceless exposure to Dubai’s flourishing cryptocurrency sector.
A Collective Attempt
Along with community and media partners like Superteam UAE, Web3 TV, College DAO, and Cointelegraph, the event was supported by a number of sponsors and partners, including DWF Labs, Meezan Ventures, Injective, 1inch, CVVC, Blockchain for Good Alliance, and Hacken.
Concerning Bybit
With more than 50 million members, Bybit, which was founded in 2018, is the second-largest cryptocurrency exchange globally in terms of trading volume. Bybit provides a professional platform with a multilingual community, a lightning-fast matching engine, and round-the-clock customer assistance. Additionally, Bybit is a proud partner of the Oracle Red Bull Racing team, the current Constructors’ and Drivers’ champions in Formula One.
By empowering entrepreneurs and laying the groundwork for revolutionary worldwide developments in Web3 technology, Web3 Unleashed #2 has reinforced Dubai’s leadership in blockchain innovation.
