The strong investment wave is the driving force to promote blockchain technology to the public. One can mention the DeFi wave (decentralized finance) in 2020, followed by the wave of NFT and gaming in 2021. The next investment wave that is expected to bring hundreds of millions of new users to blockchain is community-driven blockchain projects.
The community is the heart and soul of a blockchain project, providing a solid foundation that greatly improves the probability of a project’s success. Blockchain projects, instead of being built by just a Core Team, have started to move to a model of harnessing the power of the community, such as DAOs (Decentralized Autonomous Organization), social tokens, fan tokens, or guilds, typically game guilds which are becoming a major part of the "billion-dollar economy" in NFT games.
When asked about why he believes in cryptocurrency, billionaire entrepreneur Jack Dorsey - CEO of Twitter said, “What inspires me the most [about bitcoin] is the community that is driving it. It reminds me of the early Internet.” Community is the factor which Jack Dorsey sees as the driving force to help blockchain projects change for the better. The power of a community is not based on its size but rather on how connected and interactive that community is.
The player community behind Axie Infinity, the multi-billion-dollar NFT game project, has made a significant contribution to its success, typically the Game Guilds. Game Guild is a big step forward for community building in the blockchain world, the most prominent of which is the Yield Guild Games (YGG) project. The diverse operating models, from investing and renting in-game items, to providing "scholarships" that not only help increase player profitability but also generate revenue for the project, have blown a breath of fresh air to the global NFT gaming community. The project has received investment from a number of well-known blockchain venture capitals, including A16z with an investment of more than $4.6 million. The project's token also has an impressive increase of nearly 20 times compared to the ICO price and promises a lot of development potential along with the NFT Game and Metaverse trends.
Recognizing the significance of community in the blockchain space, Hub Global - a reputable blockchain-oriented venture capital together with TFI Group and successful blockchain developers: Kyber Network, Tomochain, and LaunchZone, co-organize the Hackathon “Community-2-Blockchain” - to discover and incubate projects with high potential of connecting millions of users around the world. Following the success of Hackathon Game-2-Blockchain which was held in August 2021 and has been supporting popular NFT game projects such as Heroes and Empires, My Master War and Moniwar.
In addition to an investment of up to US$300,000 (approximately 6.8 billion VND) from HUB Global & its partners, the winning projects will have the opportunity to be mentored by leading experts in the blockchain and technology startup industries, including founders and senior representatives from Kyber Network, Tomochain, LaunchZone and TFI Group. HUB Global and its co-organizers are also committed to supporting potential projects in the long term through marketing networks and quality personnel introduction.
The Hackathon is expected to create a great opportunity for blockchain engineers in Vietnam to network with other blockchain builders who have the same passion and learn from leading blockchain founders around the world. Currently, community-driven blockchain projects are still in their very early stage and Community-2-Blockchain Hackathon could be the perfect opportunity for your project.
14/11/2021: Registration Close
17/11/2021: Announcing top 10 projects
20/11/2021: Final Online Pitching and Winner Announcement
The judging panel:
Founders and senior personnel from Kyber Network, Tomochain and LaunchZone
Receive up to $300,000 of investment from Hub Global and its partners
Opportunity to be mentored by successful blockchain project founders
Criteria for judging:
- Idea and plan (30%): describe the target community, plan to attract the right community, and utility of the token
- Business model (20%): how the project protocol generates revenue
- Governance (20%): effectiveness of governance model (mechanism, structure and role definition)
- Community development (30%): attractiveness of revenue sharing model, ability to utilize community contribution, and expansion