DUBAI, United Arab Emirates, Nov. 25, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with DMCC (Dubai Multi Commodities Centre) Crypto Centre, successfully concluded MENA’s flagship Web3 hackathon on Nov. 20 in Dubai. Fifteen project teams presented their groundbreaking ideas to a panel of Web3 experts and prominent figures from the crypto industry, captivating both a live audience and over 30,000 livestream viewers.

The grand finale of Web3 Unleashed this year featured a full day of events and an afterparty, including a thought-provoking panel discussion on the future of Web3 technology and its applications. The event highlighted the transformative power of blockchain technology and its potential to revolutionize various industries.

“As an Ecosystem and Advisory Partner of DMCC, I thank DMCC and all of our partners for embarking on this journey with Bybit in advancing blockchain technology as a force for good. We were able to hear compelling stories and witness the contestants radiate their hope for the future on stage. I have no doubt all fifteen teams will go on to shape the world in big and small ways with their expertise and imagination, and we are privileged to be at the epicenter of change, right here in Dubai,” said Helen Liu, Chief Operating Officer of Bybit.

The hackathon underscores the BUIDL ethos of the crypto community and Bybit’s commitment to amplifying the potential of blockchain technology in everyday life. With innovation and inclusivity in its DNA, the crypto industry is fast emerging as a vital source of future solutions for societal and economic challenges. Through the strategic partnership with DMCC and other philanthropic and research initiatives, Bybit has prioritized programs and contributions with potential for future-forward solutions.

Now in its second year, Web3 Unleashed has solidified its reputation as the region’s premier Web3 hackathon. Focused on solving real-world problems through emerging technologies, Bybit and DMCC, alongside a diverse network of partners, identified five groundbreaking projects from all corners of the world: 

1. KelpMe – KELP (Key-Loss Protection) is a blockchain-based solution designed to address the loss of private keys and misdirected transactions, offering a fully reactive recovery mechanism to recover assets even after key loss, without needing preemptive backup measures. (USA, UAE, Greece)
2. Trepa – Powered by TON, Trepa is a Telegram-based app that lets users predict majority opinions on any topic through easy prediction pools, stake tokens, align with the consensus, and potentially earn rewards. (South Korea, Singapore)
3. Mavryk Network – Mavryk Network is a Layer 1 blockchain designed to revolutionize asset ownership and asset tokenization. By leveraging RWA tokenization, DeFi applications, and robust infrastructure, Mavryk aims to transform how individuals interact with and leverage tokenized assets. (Dubai, Gibraltar, Singapore, Paris, Kiev, Tel Aviv)
4. Hive – Hive is building a solution for the computer sharing economy with every home’s GPU. By empowering individuals to share their hardware resources, Hive can democratize access to technology, putting the power back into the hands of everyday people. (Abu Dhabi, Belgium)
5. Poppin – Poppin is a browser extension that turns any webpage into a social hub, allowing users to connect and interact with others on the same webpage through comments, real-time chats, and voice streams. (Turkey)
   

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC delivered a keynote address at the Pitch Day event. “The DMCC-Bybit Hackathon continues to position Dubai at the forefront of Web3 innovation with groundbreaking solutions in tokenisation, AI, Web3 infrastructure, zero-knowledge protocols, digital identity and DePIN. The event attracted top talent to Dubai, fostering practical applications and impactful innovation. This is another example of the DMCC Crypto Centre’s role, supported by Bybit and ecosystem partners, in showcasing Dubai’s Web3 potential for the industry,” he said. 

The five winning project teams will share a prize pool of over 160,000 USDT to propel their next entrepreneurial ventures at the heart of MENA. In addition, the teams have gained invaluable exposure in the emerging crypto capital of the world and opportunities to exchange insights with leading voices in the industry.

Web3 Unleashed #2 was made possible by the generous contributions from Official Sponsors DWF Labs, Meezan Ventures, Injective, 1inch, CVVC, Blockchain for Good Alliance and Hacken, as well as the support from Community and Media Partners Superteam UAE, Web3 TV, College DAO, Hackquest, BeWater, Bloc Soc IITD, KEY Difference and Cointelegraph. 

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press 

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Contact

Head of PR
Tony Au
Bybit
tony.au@bybit.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc83e0d7-7bc9-4d72-bff6-ea3373d2c4af

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