Dubai, UAE – September 3, 2024: Following the success of their inaugural hackathon in November 2023, the Dubai Multi Commodities Centre (DMCC) and global crypto exchange Bybit have announced the launch of their second joint hackathon. Set to take place on November 20, 2024, at DMCC’s Uptown Tower headquarters, the event offers a prize pool of $100,000, positioning it as the largest Web3-focused hackathon in the region.
This latest hackathon marks a significant milestone in the ongoing strategic partnership between DMCC and Bybit, aimed at accelerating the mass adoption of crypto and Web3 technologies in Dubai. With applications now open, the event will feature up to 10 teams competing to develop innovative solutions in key areas of the Web3 ecosystem. These include tokenization, artificial intelligence (AI), Web3 infrastructure, zero-knowledge protocols, digital identity, and decentralized physical infrastructure networks (DePIN).
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, highlighted the significance of the event, stating: “Our collaboration with Bybit for this hackathon underscores DMCC Crypto Centre’s commitment to advancing cutting-edge solutions that will shape the future of the digital economy. As our second edition with Bybit within a year, this event not only offers $100,000 to the most innovative Web3 firms but also drives the next wave of Web3 innovation from the heart of DMCC’s integrated tech ecosystem. This is yet another testament to Dubai’s unmatched position as the epicentre of next-gen technological advancements.”
Ben Zhou, Co-founder and CEO of Bybit, emphasized the importance of the event for the Web3 community: “Hackathons are a fantastic way to tap into and nurture Dubai’s thriving Web3 community, especially as we expand our global offerings. Working closely with DMCC is a key pillar of our strategy, and we look forward to seeing Dubai’s Web3 firms rise to the challenge.”
The hackathon is also supported by several key partners, including DWF Labs, Meezan Ventures, Injective, and Hacken, each contributing to the event’s success. Cointelegraph has joined as the media partner, with Solana Superteam UAE, Hackquest, BeWater, and Web3TV as community partners.
The DMCC Crypto Centre, which now hosts over 600 members, is a comprehensive ecosystem designed for companies developing Web3 and blockchain technologies. The Centre has rapidly become the largest concentration of crypto and Web3 firms in the region, providing the necessary infrastructure and support for businesses to set up and scale their operations.
Bybit, headquartered in Dubai, is the world’s second-largest crypto exchange by trading volume, serving over 40 million users globally.
Applications for the DMCC Crypto Centre-Bybit Hackathon are now open and can be submitted through this link.
