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DMCC Crypto Centre, Bybit announce Web3 hackathon; here’s how to apply

The final round will see 10 teams compete for a total prize pool of $100,000 to develop creative technical solutions within the fields of artificial intelligence, gaming and information security

by Gulf Business

September 28, 2023

Image: Bybit

DMCC Crypto Centre and Dubai-based global crypto exchange Bybit have announced the launch of a hackathon to boost the development of Dubai’s Web3 ecosystem.

With a prize pool worth $100,000, the hackathon is aimed at enabling crypto innovation in Web3 and will be the first of this scale in the MENA region.

During the final stage, up to 10 teams will compete to develop creative technical solutions related to artificial intelligence (AI), gaming and information security.

DMCC-Bybit hackathon to take place in November

The hackathon will take place in Dubai on November 22 and is a key initiative between both sides after they announced a strategic partnership in June to accelerate the mass adoption of crypto and Web3 in Dubai.

Ahmed Bin Sulayem, executive chairman and CEO, DMCC said: “Dubai is fast consolidating its position as the most important Web3 hub in the region, and the hackathon is the perfect testament of this in action. As Dubai continues its transition into an innovation-driven and knowledge-based economy, furthering the development of Web3 technologies is vital.

“This will be the largest hackathon of its kind in the region, pioneering the latest technical innovation in areas such as AI and gaming.”

Ben Zhou, co-founder and CEO of Bybit, added: “Tapping into the high levels of Web3 innovation taking place in Dubai is a key pillar of our strategy as we continue growing our global market share. This partnership with DMCC is enabling us to do exactly that, so we are excited to host the largest hackathons that this region has seen and further build our symbiotic relationship with the DMCC Crypto Centre.”

This year in June, DMCC partnered with the crypto exchange to provide financial support totalling Dhs500,000 ($136,000) for new crypto businesses looking to set up at DMCC Crypto Centre.

In turn, the crypto exchange became the listing partner for DMCC Crypto Centre, with the company providing dedicated support for crypto firms looking to list digital assets on one of the top global exchanges.

People interested can now apply for the hackathon.