Bybit and DMCC Brings Back MENA's Flagship Web3 Hackathon

Bybit and DMCC Brings Back MENA’s Flagship Web3 Hackathon

Dubai, UAE - Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has joined forces with the Dubai Multi Commodities Centre (DMCC) Crypto Centre to bring back the MENA region’s flagship Web3 hackathon. This partnership aims to foster innovation and creativity in the blockchain and web3 space, providing a platform for developers, entrepreneurs, and startups to showcase their skills and ideas.

The hackathon, which took place on September 3, 2024, was the largest of its kind in the MENA region, bringing together over 1,000 participants from more than 50 countries. The event provided a unique opportunity for participants to collaborate, network, and learn from each other, as well as compete for prizes and recognition.

Bybit’s involvement in the hackathon is a testament to the company’s commitment to driving innovation and adoption of blockchain technology. As a leading cryptocurrency exchange, Bybit has been at the forefront of the Web3 revolution, providing users with a secure, reliable, and user-friendly platform for trading digital assets.

The DMCC Crypto Centre, on the other hand, has played a crucial role in promoting Dubai as a global hub for blockchain and cryptocurrency innovation. The centre offers a range of services, including incubation, acceleration, and co-working spaces, to support startups and entrepreneurs in the sector.

The hackathon featured a range of challenges and activities, including coding competitions, workshops, and panel discussions. Participants were tasked with developing innovative solutions using blockchain technology, focusing on areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and social impact projects.

Judges for the hackathon included prominent figures from the blockchain and Web3 community, including Bybit’s CEO, Ben Zhou, and DMCC’s Executive Chairman, Ahmed bin Sulayem. Prizes were awarded to the winners in various categories, with the grand prize winner receiving a cash prize of $10,000.

The MENA region has seen significant growth in the adoption of blockchain technology and cryptocurrencies in recent years. The hackathon is expected to further accelerate this trend, providing a boost to the local ecosystem and inspiring new ideas and innovations.

In conclusion, the partnership between Bybit and DMCC Crypto Centre has brought back the MENA region’s flagship Web3 hackathon, providing a platform for innovation, collaboration, and learning in the blockchain and web3 space. The event has demonstrated the growing interest and potential of the sector in the region and is expected to have a positive impact on the local ecosystem.