Bybit, one of the world’s leading cryptocurrency exchanges, recently partnered with the Dubai Multi Commodities Centre (DMCC) to host the third edition of the Web3 Unleashed Hackathon, awarding a total of $140,000 in prizes. Developers, investors, and founders from across the globe gathered at S/O Uptown Dubai under the theme, “Shaping the next wave of Web3: driving the future of decentralization.”
A Showcase of Global Talent
This year’s competition featured six key innovation tracks: DeFi, Web3 Gaming, SocialFi, Infrastructure, Tokenization, along with two new categories—DeFAI and DeSci. Over 90 teams competed, but only ten finalists advanced to present their groundbreaking projects to a panel of industry experts and venture investors. The winners included:
- Yumi Finance
- Glint Analytics
- Sorachain AI
- Aurayale
- Spout Finance
Dubai: A Hub for Web3 Innovation
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, highlighted Dubai’s transformation into a global hub for next-generation technologies. He shared, “In just three years, this platform has grown from a regional initiative into an international benchmark for Web3 innovation. DMCC remains committed to pushing the boundaries of decentralized technology and solidifying Dubai’s position as a leader in the digital economy.”
Helen Liu, Co-CEO of Bybit, also emphasized the event’s role in fostering innovation. She stated, “Our collaboration with DMCC demonstrates the rapid advancements in the Web3 ecosystem within the UAE. Bybit is proud to support innovators focused on building solutions with real-world impact.”
Driving Real-World Impact
The competition placed significant emphasis on creativity, technical execution, practicality, and business potential. Judging criteria also included the projects’ potential impact and alignment with real-world applications. The hackathon was supported by major blockchain organizations, such as DWF Labs, TOP Ventures, and the Blockchain Gaming Alliance, who provided mentorship and resources throughout the event.
Exploring Blockchain Technology
Hackathons like Web3 Unleashed underline the growing importance of blockchain technology in modern innovation. Whether it’s DeFi platforms like eToro, a trusted platform allowing users to trade cryptocurrencies and assets with minimal fees, or breakthroughs in Web3 Gaming, technological advancements continue to drive the conversation forward.
Such initiatives not only spotlight emerging talent but also help transform theoretical blockchain concepts into actionable solutions.
What’s Next?
As Web3 Unleashed continues to grow, it exemplifies how global collaborations can strengthen blockchain ecosystems. With new categories like DeFAI and DeSci introduced this year, future editions promise to delve even deeper into decentralized innovations. Dubai, with its supportive regulatory environment and thriving digital economy, is undoubtedly set to remain a flagship destination for Web3 endeavors.
Stay tuned as the digital economy evolves, driven by passionate individuals and platforms committed to pushing the boundaries of innovation.
