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Foresight Ventures Sponsoring DFINITY Supernova Hackathon to Bring Next Generation of Web3 Projects to Life

More than $765,000 in cash prizes up for grabs at first global Web3 hackathon using the Internet Computer blockchain

SHANGHAI, CHINA / ACCESSWIRE / May 18, 2022 / As part of its ongoing mission to further boost the Web3 ecosystem and create pathways to bring new innovative Web3 teams into the space, Foresight Ventures is sponsoring the DFINITY Supernova Hackathon.

The global event kicked off on May 10, but project submissions are being accepted until June 20. The hackathon will culminate with a demo day and grand prize ceremony on June 30, with $765,000 in cash prizes to be distributed to winning teams. Winners will also be eligible for $765,000 in grants, and up to $4.47 million in seed funding opportunities offered by the DFINITY Foundation (see terms and conditions here.)

Just last month, Foresight Ventures was a sponsor of Bitcoin 2022 in Miami, the industry’s flagship annual conference attended by more than 30,000 die-hard crypto enthusiasts and innovators. In sponsoring the DFINITY Supernova Hackathon, Foresight Ventures is helping boost early-stage Web3 teams working in the Internet Computer (ICP) ecosystem, Foresight’s partner Tony Chen will join as main judge at June 30th, providing key advice to successful fundraising and hosting a community-focused workshop.

The Internet Computer is a new blockchain developed by The DFINITY Foundation which has already garnered significant developer interest. It’s one of the most advanced Web3 platforms in existence today, capable of hosting “mass market” social media services along with all of its data and computation directly on the blockchain.

This innovation will allow developers to build truly decentralized online services using smart contracts and programming languages like Rust and Motoko. During the hackathon, decentralized services on Internet Computer will work to create an advanced type of DAO called a “Service Nervous System,” to which control of their services will be assigned. This will allow developers to position themselves, and their projects, at the vanguard of Web3.

All projects using Internet Computer are welcome to compete in the hackathon. It includes six separate tracks for projects spanning SocialFi, GameFi, Metaverse & NFTs, Asynchronous DeFi, Public Good/Social Impact, and even Blue Sky for those which are difficult to fit into one of the previous categories.

After the Supernova Hackathon Team reviews project submissions’ eligibility, those approved will face a panel of judges and the winners will be determined based on criteria like X Factor and Potential, Technical Competence, Social Impact, Progression, and IC Factor (how effectively a team uses the Internet Computer blockchain to bring their project to life.)

The hackathon is a rare opportunity for some of the best and brightest teams developing for the ICP ecosystem to pool their collective brainpower and creativity with the common goal of advancing the Web3 ecosystem. Teams looking for inspiration can view some of the projects already built on Internet Computer here.

About Foresight Ventures

Foresight Ventures believes crypto will define the next few decades of innovation. The firm invests early and makes decisions quickly, providing wide-ranging support for projects from its robust ecosystem that includes major market players crypto exchange Bitget and crypto wallet BitKeep. Its founding and partnership team includes veterans of some of the top financial and technology firms on the planet who are dedicated to finding and supporting the next generation of disruptive players across Web3.

Email: fv (at) foresightventures.com

SOURCE: Foresight Ventures

View source version on accesswire.com:
https://www.accesswire.com/701908/Foresight-Ventures-Sponsoring-DFINITY-Supernova-Hackathon-to-Bring-Next-Generation-of-Web3-Projects-to-Life

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