- The cash will come from the exchange’s $100 million OKEx BlockDream Ventures fund.
- The winning team in the hackathon will receive $1 million in funding.
Crypto Exchange, OKEx, says it is launching a $10 million fund to help develop GameFi, or “play-to-earn,” projects. The cash will come from the exchange’s $100 million OKEx BlockDream Ventures fund, which invests in blockchain projects, the company said.
The program will bring recognition to projects that are ready to launch. It is a Metaverse-themed hackathon, sponsored by prominent GameFi projects. The hackathon will offer workshops, support, and a demo day to connect developers with potential VC investors.
OKEx BlockDream Ventures will host a hackathon with the theme “BUIDL IN METAFORCE” on Aug. 26. The winning team will be awarded $1 million in funding as well as advanced listing and promotion.
GameFi has demonstrated the potential to be the next blockchain battleground after decentralized finance (DeFi). OKEx will provide fast listing and marketing channel support for outstanding OEC-based GameFi projects.
Earlier, in July, Solana also launched a similar hackathon for Indian developers with total prize money of Rs 60 lakh. The “Building Out Loud” hackathon aimed at becoming a social movement for the young generation of entrepreneurs that are searching for new opportunities to launch a global product and raise capital from prominent global investors.