- Binance labs intends to enlarge the blockchain space
- Winning teams will enter an investment partnership with Binance
- Binance incubation program assists startups
Binance Labs has unveiled a global gaming hackathon. The event is co-hosted by Cocos-BCX, Celer Network (CELR), Contentos (COS) and Matic Network (MATIC).
Hackathon Will Have Multiple Rounds
The venture arm of the world’s leading crypto exchange made the announcement on August 5, 2019. As per the announcement, the global gaming hackathon dubbed Game Oasis Hackathon will have multiple rounds, including the preliminary online hackathon and subsequent on-site hackathon in 4 different cities namely Shanghai, Seoul, San Francisco, and Bengaluru. Binance added:
“Other hackathons will take place in the United States, South Korea, and India. Details of the following hackathons will be disclosed soon.”
Receive Prize Monies
Binance Labs announced that the game’s first round took off last Friday, August 2, 2019, which is a registration phase for teams that are interested in taking part in the second round, where teams will submit their new or previously built reaction-type or rule-based HTML-5 game to the panel of judges. Teams that make it through the second round will be pitted in the ‘Oasis Arena,’ the 48-hour on-site hackathons specifically focused on blockchain gaming.
The three winning teams during the third round of the game will receive prize monies ranging from USD 4300, USD 2800 to USD 1500 (30,000, 20,000, and 10,000 Yuan). Besides the cash prizes, the winners will get the rare opportunity to enter an investment from Binance Labs. Teams keen on taking part in the hackathon have until September 2, 2019, to make their submissions while the successful teams will be announced on September 9. Commenting, Matic Networks wrote in their official Medium blog:
“We firmly believe blockchain gaming will be one of the first use-cases that generate mainstream adoption and will thus act as an onboarding ramp for mass levels of users. We are therefore providing the infrastructure for the new era of blockchain-powered gaming and expect games to be a major part of the Matic Network ecosystem.”
Larger Blockchain Ecosystem
Binance Labs was established to incubate, invest in and empower blockchain and cryptocurrency entrepreneurs and communities. The mission of Binance Labs is to support industry projects that help grow the larger blockchain ecosystem, realizing the full potential of blockchain technology and its social impact, while increasing cryptocurrency adoption globally.
Recently, Binance Labs, the venture arm of leading cryptocurrency exchange Binance, today announced the 13 newest projects to graduate from its incubation program. With regional chapters on three continents, the Binance Labs Incubation Program focuses on helping top founders bootstrap and achieve product-market fit in the global blockchain landscape.