The Dubai Multi Commodities Centre (DMCC), a central pillar of Dubai’s economic diversification and a leading free zone, in partnership with cryptocurrency exchange Bybit, has successfully concluded the third edition of the Web3 Unleashed Hackathon. The global competition, which attracted 90 teams, awarded a combined prize pool of $140,000 to five winning projects that showcased cutting-edge solutions across various tracks of decentralized technology. The event reinforces Dubai’s strategic position as a global hub for Web3 development and next-generation technologies.
Expanding the Frontiers of Decentralization
Hosted at S/O Uptown Dubai, the hackathon centered on the theme “Shaping the next wave of Web3: driving the future of decentralisation.” This year marked a significant expansion in scope, introducing two new categories: Decentralized Finance for Artificial Intelligence (DeFAI) and Decentralized Science (DeSci). These new tracks accompanied existing categories, including DeFi, Web3 Gaming, SocialFi, Infrastructure, and Tokenisation, demonstrating the growing maturity and diversity of the Web3 landscape. This broader structure highlights an industry commitment to solutions that address real-world challenges through decentralization.
Recognizing Top Web3 Talent
Ten finalist teams were selected to present their concepts before a panel of industry specialists and venture leaders. Five projects were ultimately recognized for their innovation, technical execution, and potential impact on the decentralized ecosystem:
- Yumi Finance
- Glint Analytics
- Sorachain AI
- Aurayale
- Spout Finance
The judging criteria were comprehensive, focusing on creativity, practical business potential, and the quality of technical execution.
Dubai’s Role as a Global Web3 Benchmark
The continued success of the Web3 Unleashed series underscores Dubai’s transformation into a world-class center for technological innovation. Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, highlighted the platform’s evolution from a regional initiative to an international benchmark for Web3 innovation, drawing participants and investors from around the globe. He affirmed that through such initiatives, DMCC is helping to define the future of decentralized innovation and ensuring Dubai remains at the forefront of the digital economy.
The hackathon received substantial support from major industry partners, including DWF Labs, TOP Ventures, CROSS, Verse8, The Open Platform, CV Labs, Hacken, Cointelegraph, the Blockchain for Good Alliance (BGA), and the Blockchain Gaming Alliance, who provided essential mentorship, resources, and visibility to the participating teams.
About DMCC and Bybit
The DMCC (Dubai Multi Commodities Centre) is the world’s leading Free Zone and Government of Dubai Authority on commodity trade and enterprise. It provides an advanced business ecosystem to over 25,000 member companies ranging from dynamic startups to multinational corporations, actively driving global trade flow through Dubai.
Bybit is a prominent global cryptocurrency exchange by trading volume, founded in 2018. The platform serves a global community and is focused on building a secure, open, and equitable ecosystem for the decentralized world, with a strong focus on Web3 development.
Source: Bybit and DMCC Revealed Winners of Third Web3 Unleashed Hackathon with USD 140,000 Awarded
