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Huobi Incubator will be one of the co-organizers of the Hackathon to promote the development of Web3

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Huobi Incubator will be one of the co-organizers of the Hackathon to promote the development of Web3

Web3 Scholarship, a funding platform launched by Huobi Incubator, the project incubation arm of Huobi Group, just collaborated with FBG Capital, Asia Blockchain Gaming Alliance (ABGA), Sanctor Capital and Spark Digital Capital to  organize the Web 3.0 Hackathon later this year.

Huobi has recently announced the launch Avalanche Asia Hackathon for developers and early stage projects from around the world looking to grow in or out of Asia. The hackathon aims to support all kinds of dApps and projects including DeFi, Web3, Metaverse, NFT, Gamefi and Infrastructure & tooling in building the Web3 technology. 

Web3- A Dream To Reality

Huobi Incubator will be one of the co-organizers of the Hackathon to promote the development of Web3

According to the report, the registration for the hackathon will start from 1 February to 15 March 2022. The hackathon will feature a total prize pool of US$92,000, with the top winner winning US$25,000Alibaba Cloud will also be one of the evaluators, and reward the winners with coupons on its services. Winners may have the opportunity to receive funding from Web3 Scholarship in the future as well. Jewel Chen, Head of Huobi Incubator, said that the primary motive of the hackathon is to partner with a diverse set of developers to make the Web3 dream a reality. He went on to add,

“We aim to discover talented developers that have the potential to drive Web3 developments and transform the industry.” 

Web3 Scholarship is a funding platform jointly launched by Huobi Incubator and a group of blockchain veterans, venture capitalists, universities and crypto platforms. It will commit to funding builders in the area of ​​Web 3.0 and providing support in generating funds, acting as an incubator mentorship program, and token listing opportunities for early-stage projects.

Huobi Incubator- Supporting Web3

Huobi Incubator will be one of the co-organizers of the Hackathon to promote the development of Web3

Yolo Zhang, senior manager of Huobi Incubator who seemed optimistic about the collaboration said that the move will boost Web3 developments and help transform the entire Web3 ecosystem. He further said,

“Interest in Web3 has skyrocketed over the past year, and new projects are emerging left and right. We hope to provide professional support for these fledgling projects and help them supercharge their business growth.”

Earlier this year, Huobi Incubator partnered with five blockchain companies and academic associations to establish the Web3 Scholarship. The companies include, leading crypto data tracker CoinMarketCap, permissionless DEX built for cross-chain token pools and auctions, Polkastarter, decentralized fundraising and cross-chain launchpad, Poolz, technology provider growing crypto startups, DAO Maker and a society for educating on blockchain technology, Cambridge Blockchain Society. Huobi Incubator has allocated an initial amount of $10 million to fund the platform.

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