Bybit, the world’s second-largest cryptocurrency exchanges by trading volume, has concluded the third edition of its Web3 Unleashed Hackathon, held in partnership with the Dubai Multi Commodities Centre (DMCC).
The competition recognized five standout projects from 90 global teams, awarding a total of $140,000 in prizes.
Shaping the next wave of Web3
Hosted at S/O Uptown Dubai under the theme “Shaping the next wave of Web3: driving the future of decentralisation,” the event brought together developers, founders, and investors from around the world.
This year’s hackathon featured six innovation tracks: DeFi, Web3 Gaming, SocialFi, Infrastructure, Tokenisation, and two new categories, DeFAI and DeSci.
Judging criteria focused on creativity, technical execution, practicality, business potential, impact, and team experience, with a strong emphasis on real-world applications.
Ten finalists presented their projects to a panel of industry experts and venture investors with the following teams named winners: Yumi Finance, Glint Analytics, Sorachain AI, Aurayale, and Spout Finance.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said:
“The continued success of Web3 Unleashed reflects how Dubai has evolved into a truly global hub for next-generation technologies. In just three years, this platform has grown from a regional initiative into an international benchmark for Web3 innovation – drawing participants, investors and partners from every corner of the world. Each edition builds on the last, and the introduction of DeFAI and DeSci this year demonstrates our commitment to staying ahead of technological change. Through initiatives like this, DMCC is helping define what the future of decentralised innovation looks like, ensuring that Dubai remains at the forefront of the digital economy and continues to empower those shaping it.”
UAE’s growing Web3 ecosystem
According to organizers, the Web3 Unleashed series has become a consistent showcase of new blockchain innovation, further strengthening Dubai’s position as a rising Web3 powerhouse.
Helen Liu, Co-CEO of Bybit, commented on the series:
“Our collaboration with DMCC continues to demonstrate how rapidly the Web3 ecosystem in the UAE is advancing. Each year, we see a notable rise in the technical depth and global calibre of the teams joining Web3 Unleashed. Bitcoin’s pullback from its historical high serves as an important reminder that this industry is built for the long term. Real progress in blockchain requires patience from founders and builders, especially during moments when the market tests conviction. Bybit remains committed to supporting innovators who focus on real utility and sustainable impact, and we are proud to help cultivate an environment where world-class talent can continue to grow in Dubai.”
The hackathon was supported by partners including DWF Labs, TOP Ventures, CROSS, Verse8, The Open Platform, CV Labs, Hacken, Cointelegraph, Blockchain for Good Alliance (BGA), and the Blockchain Gaming Alliance. Partners contributed mentorship, resources, and visibility throughout the event.
Featured image via Shutterstock.
