Bybit, in collaboration with the Dubai Multi Commodities Centre (DMCC) Crypto Centre, has revealed the top ten finalists for the hackathon: “Web3 Unleashed: Crypto Innovation Challenge. This showcases innovative Web3 startups and aspiring businesses in the UAE, showcasing their contributions to the digital asset market. 

From the 100 teams who applied, ten have been selected for their groundbreaking work across various sectors of the blockchain industry, including GameFi, decentralized finance (DeFi), NFTs, and sustainable blockchain solutions. These teams will present their entries at the event showcase on Nov. 22.

Team EVA.IO is pioneering a decentralized Supervised Machine Learning rating system for Crypto, DeFi, and NFTs, while Cyborg Network redefines cloud computing within the Polkadot Ecosystem. Copin empowers users to leverage insights from top on-chain traders, and Pravica pioneers peer-to-peer Web3 messaging and value transfer infrastructure.

Top Ledger introduces an enterprise-level blockchain analytics solution, as Edu3Labs merges education with blockchain for a more rewarding learning experience, and iTeller is a profitable fintech/crypto OTC business. Meanwhile, Timeswap breaks new ground with its fully decentralized lending and borrowing protocol.

Akka brings AI-powered efficiency to cross-chain asset movement, and DRIFE, dubbed “Taxi 3.0,” aims to overhaul the traditional ride-hailing industry. These ten teams stand to win from a prize pool of up to 100,000 USDT, including a cash prize equivalent to 50,000 USDT and additional prizes worth 50,000 USDT, such as access to Brinc’s accelerator, a complementary DMCC license, and a Hacken smart contract audit.

“The ‘Web3 Unleashed: Crypto Innovation Challenge’ is more than a competition; it’s a testament to the transformative power of collaboration in the era of blockchain technology,” said Ben Zhou, co-founder and CEO. “Fostering an environment where innovation thrives is one of our top priorities on our mission to become the world’s Crypto Ark.”