Dubai’s DMCC and global cryptocurrency exchange Bybit have officially opened applications for their third annual Web3 hackathon, titled Web3 Unleashed #3, which aims to shape the future of Web3 and boasts a substantial prize pool of USD 140,000.
Following the success of its previous iterations, this year’s hackathon expands to include two new tracks: DeFAI, which seeks to bridge decentralized finance and artificial intelligence, and DeSci, focusing on decentralized science and research innovation. These tracks are in addition to the existing categories, which include DeFi, Web3 Gaming, SocialFi, Infrastructure, and Tokenization. The diversification of topics ensures that participants will engage with some of the most innovative paths within the Web3 space.
In its commitment to providing a robust platform, DMCC has collaborated with a range of prominent industry players, including DWF Labs, Hacken, Cointelegraph, and the Blockchain for Good Alliance. The initiative aims to connect global developers, entrepreneurs, and investors, fostering an environment conducive to the development of early-stage Web3 ventures.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, emphasized the potential of the Web3 market, predicting it will grow to USD 40 billion by 2030. He noted that the conversation has shifted from whether decentralized technologies will disrupt existing systems to who will lead that disruption. Bin Sulayem highlighted DMCC’s extensive network of over 3,400 tech companies, including more than 700 focused on cryptocurrency and 110 in artificial intelligence, as a key factor in positioning Dubai as a leading hub for Web3 innovation.
Building on the momentum of the previous year’s hackathon, which drew high-potential startups from around the world, this year’s event anticipates a similarly competitive field. The last edition awarded a combined prize pool of USD 160,000 to five standout projects focusing on advanced solutions in areas like AI and zero-knowledge protocols.
Ben Zhou, Co-founder and CEO of Bybit, expressed excitement about the partnership with DMCC and the hackathon’s growth. He noted that the initiative has evolved into a vibrant platform where innovators can bring their ideas to fruition. Zhou’s enthusiasm reflects the hackathon’s emphasis on collaborative innovation across diverse segments of the Web3 ecosystem, spanning DeFi, DeFAI, Web3 Gaming, DeSci, SocialFi, Infrastructure, and Tokenization.
Applications for this year’s hackathon opened on September 1 and will close on October 5. Following a remote evaluation period from October 6 to October 20, the top 10 projects will be announced on October 22. The final five teams will then be invited to participate in a live demo day in Dubai on November 26, where they will present their solutions to a curated audience of industry specialists, investors, and advisors.
The DMCC Crypto Centre serves as a cornerstone of innovation in the region, featuring more than 700 members and representing the largest ecosystem of its kind. The center provides tailored licensing, co-working spaces, and accelerator access, fostering a supportive regulatory environment crucial for Web3 and blockchain development. With over 140 firms focused on Web3 gaming and more than 110 in AI, DMCC’s tech ecosystem is one of the most concentrated innovation clusters in the MENA region.
Interested participants can submit their applications through the designated online form. The hackathon presents an opportunity for innovators to gain recognition and jumpstart their projects within the rapidly evolving landscape of Web3 technologies.
