Giottus Announces Block Bash Web3 Hackathon in India: Details

Indian crypto exchange Giottus announced its upcoming Web3 hackathon in India, dubbed ‘Block Bash’, on Thursday, August 8. The exchange has partnered with Crewsphere, a proprietary layer-1 blockchain focused on decentralizing the modern internet. The hackathon aims to tap into India’s Web3 talent and showcase the country’s skilled developers who have the potential to fuel the growth of blockchain technologies like DeFi, cryptocurrencies, NFTs, and the metaverse.

A total amount of $10,000 (approximately Rs. 8.40 lakh) has been allocated to be distributed among the winners.

“The first grand prize is $2,000 (approximately Rs. 1.67 lakh) and the second prize is $1,500 (approximately Rs. 1.25 lakh). The other prizes are: third prize: $1,000 (approximately Rs. 83,954); fourth to 10th prize: $200 (approximately Rs. 16,790) each; and 11th to 51st prize: $100 (approximately Rs. 8,395) each,” the company said in its official statement.

As part of this hackathon, participants will have to choose one of eleven predefined problems and develop solutions for it using the CrewSphere blockchain. The entries will be judged by a panel of members from Giottus and the official India Hub of the Internet Computer Protocol (ICP).

“The problem areas range from SocialFi applications, DAO tooling, privacy-focused applications, and RWA DeFi protocols to e-commerce and fintech,” Giottus noted.

When describing the eligibility criteria for those interested in joining, Giottus said that students and developers who have completed their KYC with the exchange can proceed. A pre-qualifier quiz round will filter out finalists who will enter the main competition. People can try to pass the pre-qualifier until September 25.

The competition, which will take place entirely online, will start on September 1 and end on September 30. The winners will be announced at the end of the hackathon.

As for ICP Hub India – Crewsphere, the blockchain team has been organizing similar hackathons in India for a while now. In 2023, for example, the platform had Reportedly took the initiative to organize the Sankalp Web3 Tour and the ICP Hackathon, where the total prize money was $100,000 (approximately Rs. 83.9 lakh).

Blockchain-related hackathons are seen as educational and awareness initiatives by the Web3 industry. Earlier this year, Indian cryptocurrency exchange CoinDCX had also said that it would be organising similar events and using its venture arm to invest in the best teams emerging from these hackathons.