30s Summary
The Web3 Unleashed #2 hackathon hosted by DMCC and Bybit in Dubai saw five projects each secure a share of the $160,000 prize. The event involved 15 finalists competing in the creation of tech solutions to significant challenges. Winners included KelpMe, offering a feature for retrieving lost wallet keys, Trepa, a blockchain-integrated prediction market app, Mavryk Network, facilitating asset access via blockchain, Hive, a decentralised computing network, and Poppin, a browser extension for live page chats. The event demonstrated Dubai’s continued interest in fostering Web3 innovation.
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The Web3 Unleashed #2 hackathon hosted by DMCC and Bybit has wrapped up with five incredible projects nailing the grand prize of $160,000. Let’s face it, hackathons are super exciting opportunities where genius brains assemble and whip up something revolutionary. And Dubai, with its progressive attitude and investment in crazy advanced tech, is the perfect playground for these innovative minds.
A major player behind this tech revolution in Dubai is Dubai Multi Commodities Centre (DMCC) alongside the global crypto hotspot Bybit. They recently partnered up for the second round of the Web3 Unleashed hackathon which took place on 20th November. The competition was fierce, with 15 finalists battling it out to create an extraordinary solution for a genuine problem. In the end, five projects stood tall and shared the $160,000 prize pool.
What did these top projects bring to the table, you ask? Some whipped up solutions in areas like artificial intelligence, Web3 infrastructure, decentralised physical infrastructure networks, digital identity and zero knowledge protocols. A board made up of industry hot-shots like Gerik Wang from Bybit, Mathias Ruch from CV VC and lots more evaluated these projects for business potential, creativity, and impact.
Out of heaps of projects and 15 finalists, here’s a low-down on the five that caught everyone’s attention:
1) KelpMe: Ever had your stomach churn while reading about lost wallet keys or transaction errors? No worries, KelpMe is here with their Key-Loss Protection (KELP) feature which helps you retrieve your assets if you lose access to your private keys. No more stress about backups.
2) Trepa: A Telegram app that runs on TON blockchain, Trepa’s all about a blockchain integrated prediction market where you place your bets on consensus on anything through prediction pools and earn rewards.
3) Mavryk Network: Mavryk’s function is to facilitate better access to real-world assets via blockchain. Easy peasy!
4) Hive: Hive lets you share your computing power with a network through a GPU. It’s all about decentralisation and sidelining Big Tech in computing services.
5) Poppin: Poppin is a browser extension that lets users on the same page chat live and comment.
The hackathon was brought to you by big names like DWF Labs, Injective, 1inch and CV VC (with Cointelegraph as the media partner). It was a great opportunity for new projects to get some spotlight and make a real contribution to the blockchain and Web3 world.
But it wasn’t all work and no play. After the event, everyone let their hair down at an afterparty where attendees, including investors and industry leaders, mingled and exchanged ideas.
Ahmed Bin Sulayem, the top dog at DMCC, believes the hackathon is solid proof of Dubai’s innovative spirit. He 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.”
Overall, the Web3 Unleashed #2 set up a great stage for collaboration and innovation in the Web3 world. By gathering creative talents with industry leaders, the event opened up great opportunities for developing solutions that could take Web3 to higher grounds.