The Solana Foundation, a non-profit committed to accelerating the adoption and security of the Solana blockchain, has unveiled Hyperdrive, a global online hackathon offering up to $1 million in prizes and seed funding. The event, scheduled to take place from September 6 to October 15, aims to attract elite developers and founders to the rapidly growing Solana ecosystem.

Hackathons as a Catalyst for Innovation

The foundation has a strong track record of using hackathons as a tool for nurturing potential blockchain applications and driving innovation. Since its inception, Solana’s hackathons have drawn over 50,000 participants and led to the launch of more than 3,000 projects. These winning projects have collectively raised an impressive $600 million in venture funding.

Matty Taylor, Head of Growth at the Solana Foundation, emphasized the impact of such events: “Hyperdrive is designed to bring together the best in the business to catalyze new startups within the Solana ecosystem. These hackathons are not just competitions; they’re collaborative efforts that push the boundaries of what blockchain can achieve.”

Diverse Areas of Focus

This year’s Hyperdrive aims to encourage projects in a wide array of sectors. Contestants can compete in various tracks, each offering prizes ranging from $5,000 to $30,000 in USDC:

  • Finance & Payments, sponsored by Helio
  • Mobile Consumer Apps, sponsored by Magic Eden
  • Physical Infrastructure Networks, sponsored by IO.NET
  • Artificial Intelligence, sponsored by UXD
  • Gaming & Entertainment, sponsored by Phantom
  • DAOs & Network States, sponsored by Balaji Srinivasan & The Network State
  • Crypto Infrastructure, sponsored by Ironforge

Prestigious Awards Up for Grabs

The hackathon will culminate with the Grand Champion Award, presented by Amazon Web Services, which includes a $50,000 prize in USDC and tickets to Breakpoint 2024, Solana Foundation’s annual conference. Special recognition will also be given to projects focusing on public goods, climate change solutions, and university-founded initiatives.

The announcement comes on the heels of the foundation’s last hackathon, Grizzlython, which saw over 10,000 participants and more than 800 projects developed.

For those interested in participating in the Hyperdrive hackathon, registration is now open at Solana’s official website.

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