Neo and Industry Pioneers Jointly Host Neo X Grind Hackathon with Prizes and Funding of Up to $22 Million

Original source: Neo

Neo, the community-driven open-source blockchain platform, together with IOSG Kickstarter, Web3Labs, Foresight Ventures, and Bitget, announced the start of the Neo X Grind Hackathon. Held on Neo’s EVM-compatible sidechain, Neo X, the hackathon offered over $22 million in grants and funding to Web3 innovators. The goal of the hackathon was to discover and empower outstanding Web3 developers to help them create the next Web3 unicorn project on Neo X.

“We are excited to welcome Neo’s fourth hackathon. With the support of industry leaders such as IOSG, Web3Labs, Foresight Ventures and Bitget, our rewards are getting bigger and bigger.” Neo Founder Da Hongfei said, “This hackathon has unprecedented rewards to motivate participants and explore their abilities. We can’t wait to see groundbreaking and high-quality projects on the hackathon stage!”

The Neo X Grind hackathon has a prize pool of $70,000 and provides participants with a total of $22 million in funding and investment. This includes the $20 million Neo Elevate program, the $1 million IOSG Kickstarter program, and the $1 million Web3.0 Global Acceleration Program jointly established by Web3Labs and Neo. Winners will also have the opportunity to obtain exchange fast track qualifications.

“For Bitget, we are excited to empower and support the next generation of Web3 builders through the Neo X Grind Hackathon,” said Gracy Chen, CEO of Bitget. “Innovation flourishes when talented people have access to the right tools and opportunities, and we believe this collaboration will help contestants advance decentralized finance and other areas. Bitget’s fast track combined with Neo X’s advanced technical infrastructure provides developers with a unique opportunity to scale projects quickly and realize their visions.”

Figo, Head of Incubation at IOSG Kickstarter, said: “The IOSG Kickstarter program provides early developers with the resources and guidance they need to accelerate project development and bring their ideas to life. This collaboration with Neo X is a great opportunity for us to work together to create a community that will inspire and empower early developers to build and grow their projects.” "We are eager to create more opportunities for developers to showcase their talents and bring new creativity to the cryptocurrency space."

The Neo X Grind hackathon tracks cover multiple fields, including artificial intelligence (AI), decentralized physical infrastructure network (DePIN), infrastructure, decentralized finance (DeFi), SocialFi, real world assets (RWA), games, and meme-related infrastructure. The hackathon officially started on October 30 and ended on December 2. The list of winners will be announced on December 16.

Foresight Ventures co-founder Forest Bai said: "Foresight Ventures is always looking for opportunities to support the boldest ideas and advance the development of crypto technology. The Neo X Grind hackathon provides a unique platform to promote innovation at the intersection of decentralized finance and emerging technologies. We are excited to work with Neo to support developers in building transformative solutions that will accelerate industry development and drive the next wave of global applications."

Neo X is a Neo EVM-compatible sidechain with dBFT (Delegated Byzantine Fault Tolerance) consensus and protection against malicious MEVs, creating a fair and efficient development environment for developers. The platform combines Ethereum compatibility with Neo's advanced technical infrastructure, providing a perfect foundation for developers' Web3 projects.

About Neo

Founded in 2014, Neo is a community-driven open-source blockchain platform that welcomes developers to explore the smart economy. By helping developers digitize and automate asset management using smart contracts, Neo is committed to realizing the optimized digital world of the future. As the most developer-friendly blockchain, Neo seamlessly integrates the world's most widely used programming languages and tools, and provides the most comprehensive blockchain platform for building full-stack decentralized applications to meet developer needs to the greatest extent possible. At the same time, Neo has native support for powerful infrastructure, including decentralized storage, oracles, domain name services, etc., which is an ideal foundation for developers to build the next generation of the Internet.

Neo X is a sidechain of Neo. Neo X is resistant to malicious MEV, fully compatible with Ethereum tools, and excels in cross-chain scalability and DeFi applications by using the dBFT consensus mechanism and sealed transactions.

About IOSG Kickstarter

The IOSG Kickstarter program is a building program designed to support early founders of Web3: IOSG Innovate (project mining and investment) and IOSG Connect (network expansion and community building). The program provides founders with up to $100,000 in funding, as well as extensive support including mentors, consulting, partnerships, etc., to help participants take their projects to the next level.

About Web3Labs

Web3Labs was established in response to the Hong Kong SAR Government's policy statement on the development of virtual assets in Hong Kong. Through on-the-ground support, investment acceleration, technical cooperation, and compliance assistance, Web3Labs is committed to helping global Web3 companies establish operations in Hong Kong. Its goal is to create a one-stop portal for Web3 entrepreneurs. As of the end of July 2023, Web3Labs has provided consulting or support, including advice or on-the-ground services, to nearly 1,000 Web3 companies.

Faced with global technological competition, Web3Labs strives to be at the forefront of the market, understand the needs and challenges of entrepreneurs, and provide a legal, comprehensive, professional, and in-depth entrepreneurial environment. Web3Labs aims to cultivate national and even world-class unicorn companies and contribute to the steady development of the industry.

About Foresight Ventures

Foresight Ventures is the first and only crypto venture capital firm bridging the East and West. We are research-driven, with offices in the US and Singapore, and a powerhouse in the cryptocurrency investment and incubation space. Our major media networks include The Block, Foresight News, BlockTempo, and Coinness. We actively invest in the boldest innovations and are committed to working with visionary projects and top teams to help them succeed and reshape the future of digital finance and beyond.

About Bitget

Founded in 2018, Bitget is a leading global cryptocurrency exchange and Web3 company. Serving more than 45 million users in more than 150 countries and regions, Bitget is committed to helping users trade smarter through its groundbreaking copy trading capabilities and other trading solutions, while providing real-time access to Bitcoin prices, Ethereum prices, and other cryptocurrency prices. Bitget Wallet, formerly BitKeep, is a world-class multi-chain cryptocurrency wallet that provides a comprehensive range of Web3 solutions and features, including wallet functionality, token exchange, NFT market, DApp browser, etc.

Bitget is at the forefront of promoting cryptocurrency adoption through strategic partnerships, for example, it is the official cryptocurrency partner of the world's top football league LALIGA in the East Asian, Southeast Asian and Latin American markets, and the global partner of Turkish national athletes Buse Tosun Çavuşoğlu (wrestling world champion), Samet Gümüş (boxing gold medalist) and İlkin Aydın (volleyball national team), inspiring the global community to embrace the future of cryptocurrency.

This article comes from a contribution and does not represent the views of BlockBeats