The Dubai Multi Commodities Centre (DMCC), a leading global business district and significant contributor to driving international trade flows through Dubai, has announced, in collaboration with the global cryptocurrency exchange platform Bybit, the opening of registration for the third edition of the International Web 3 Hackathon, themed “Web 3 Unleashed: Shaping the Next Wave of Web 3 Technologies.” Participants will have access to a total prize pool of up to $140,000.
This new edition of the “Web 3 Unleashed” hackathon builds on the notable success of previous installments and will return in 2025 with a broader focus and a more comprehensive vision. It will introduce two innovative tracks: the DeFi Enhanced by AI (DeFAI) track, aiming to create strong bridges between decentralized finance and AI technologies, and the Decentralized Science (DeSci) track, which focuses on supporting innovation in the realms of decentralized science and research.
These two new additions complement the existing tracks, which cover decentralized finance, Web 3 gaming, social finance, infrastructure, and tokenization. This ensures that the hackathon aligns with the most promising horizons in the Web 3 tech sector, reinforcing its position as a premier destination for innovators in this dynamic field.
The DMCC is organizing this event in a strategic partnership with Bybit and a number of leading industry players, such as DWF Labs, Hacken, Cointelegraph, Open Platform, the Blockchain for Good Alliance, Vers 8, Cross, the Blockchain Gaming Alliance, and CV Labs, aiming to provide a significant global platform that connects developers, founders, and entrepreneurs from around the world with investors and tech ecosystem leaders.
The goal of the competition is once again to highlight practical solutions capable of addressing real-world challenges while accelerating the growth of early-stage projects within the Web 3 landscape, contributing to turning innovative ideas into viable real-world applications.
Transformational Change
Ahmad bin Sulaim, CEO and Executive Chairman of DMCC, stated: “Forecasts indicate that the Web 3 technology market will grow to $40 billion by 2030. Thus, the question is not whether decentralized technologies will bring about a transformational change in global systems, but rather who will lead this transformation. With over 3,400 tech companies now based in our free zone—more than 700 of which specialize in cryptocurrency and over 110 in AI—DMCC is fostering a complete ecosystem poised to witness the emergence of groundbreaking achievements. Through the “Web 3 Unleashed” hackathon, we aim to reinforce Dubai’s leading position as a primary launchpad for large-scale innovations in the Web 3 domain.”
AI Solutions
The 2024 edition of the “Web 3 Unleashed” hackathon attracted promising startups from around the globe. The finalist teams worked on developing innovative decentralized solutions across AI, zero-knowledge protocols, identity systems, and digital infrastructure. The total prize value awarded to five exceptional projects in that year was $160,000, enabling these projects to accelerate their growth and development in the marketplace.
Empowering Innovators
Ben Zhou, co-founder and CEO of Bybit, remarked: “We are excited to launch the third edition of the “Web 3 Unleashed” hackathon in collaboration with our trusted partner, DMCC. Over the years, this initiative has evolved into one of the most dynamic and interactive platforms empowering innovators to bring their boldest ideas in the Web 3 realm to life. Our focus this year on areas like decentralized finance, AI-enhanced DeFi, Web 3 gaming, decentralized science, social finance, infrastructure, and tokenization reflects the vastness and vibrancy of the ecosystem we are building together. I eagerly look forward to meeting the brilliant minds behind the best projects this November and witnessing how their creativity will shape the future of our sector.”
Pitches
Applications will be accepted starting September 1, closing on October 5. Following a round of remote evaluations, the top five teams will be invited to a live pitch day, taking place on November 26, 2025, at the SO Uptown Dubai, a premier commercial tower of DMCC. The finalists will present their projects to a specialized audience that includes a select group of investors, advisors, and industry experts, competing for an array of awards designed specifically to provide a substantial boost to their project development and increase their chances of attracting investment.
Timeline
The timeline for the hackathon includes the opening of applications on September 1 and their closure on October 5, with the selection and evaluation phase occurring between October 6 and 20. The top ten qualifying projects will be announced on October 22. The live pitch day and closing ceremony will be held on November 26.
The DMCC Crypto Centre, currently home to over 700 registered companies, is the largest hub of its kind in the region. It offers a comprehensive platform for companies specializing in the development of Web 3 and blockchain technologies, providing them with licenses tailored to their needs, co-working spaces, and opportunities to engage in growth acceleration programs, all within an environment conducive to innovation.
The broader tech ecosystem at DMCC now encompasses over 3,300 companies, including more than 110 focused on AI and over 140 within the Web 3 gaming sector, making the centre one of the most concentrated innovation hubs in the Middle East and North Africa.