The popularity of web3 hackathons has grown significantly in recent years, shifting from small, geeky gatherings to major events backed by universities, big tech companies, and innovative startups. In this article, we break down the concept of a web3 hackathon, highlight what makes them unique, and teach you how to find the best ones.
Web3 hackathons are currently one of the most popular types of hackathons in the tech community, driven by the transformative potential of decentralized technologies. Ultimately, their goal is to develop products that would bring real users and value to the ecosystem.
What makes a web3 hackathon?
Web3 hackathons are focused on the core technologies of blockchain, smart contracts, and cryptocurrencies. They feature the same dynamics as traditional hackathons where participants collaborate intensively over short periods to deliver innovative prototypes and solutions, with an emphasis on decentralized technologies.
Challenges for every skillset
Within the hackathon, there are often multiple participation tracks where participants, also called “builders”, can focus their efforts on a track that aligns with their interests and expertise. These tracks may be themed around different aspects of web3 technology or specific industry verticals.
For example, it’s common for hackathons to include participation tracks in DeFi, DApps, smart contracts, NFTs, gaming, and data privacy. This diversity of tracks showcases the wide range of possibilities within web3, and these categories are just a few of the most common because every hackathon is unique and features its own set of opportunities and experiences.
Mentorship from top blockchain developers
Another interesting aspect of web3 hackathons is that they usually provide mentorship from leading blockchain experts, making these events invaluable opportunities for participants to gain insights, refine their skills, and receive guidance from experienced professionals in the field.
Generous prizes and sponsorships
Web3 hackathons often involve collaboration with industry partners or organizations that sponsor the event and provide resources tailored to the challenges and theme of the hackathon. The prize pools are typically very generous, with substantial sums allocated to support innovative projects and ideas.
Some hackathons allow participants to compete in multiple participation tracks, thereby increasing their chances of recognition and reward. At the end of the hackathon, the best projects are awarded with prizes, which may be awarded in fiat currency or cryptocurrencies.
Some platforms hosting web3 hackathons, such as TAIKAI, reward all participants with additional rewards beyond monetary prizes, including ecosystem tokens like $TKAI. This token enables builders to engage with the TAIKAI ecosystem, support other projects, and participate in the upcoming TAIKAI Garden. The more hackathons builders participate in, the more $TKAIs they can accumulate, enhancing their ability to influence and support various initiatives within the platform.
You can read more about the $TKAI token and its tokenomics here.
Bounties and grants
Besides monetary rewards, web3 hackathons offer participants other types of prizes, such as bounties or grants. Often, sponsors provide separate bounties in addition to the main competition prizes. These bounties are specifically tailored to tasks or challenges set by sponsors and can be easier to win. Some hackathons also include grants in the prize pool, giving winning teams the opportunity to further develop and scale their projects.
Who are web3 hackathons for?
Web3 hackathons aim to attract more than just software developers. Designers, business entrepreneurs, students, and every blockchain enthusiast are welcome at these events, regardless of their background.
Another misconception about web3 hackathons is that people think they need to have experience in software development. However, this is not the case; any person can participate regardless of their experience level and many hackathons even have procedures in place to ensure the teams are even.
Besides, most web3 hackathons feature an onboarding phase where participants are welcomed and introduced to the tech stack that will be used during the main event. This phase usually includes numerous workshops and mentorship sessions to help beginners get started with the technology.
If you’re hesitant to join a web3 hackathon because you lack experience, remember: these events are open to anyone with a curious mind and a desire to contribute to the advancement of decentralized ecosystems!
Explore top projects from web3 hackathons and get inspired to participate!
+7 reasons why you should join a web3 hackathon
Participating in web3 hackathons is an enriching experience that opens doors to multiple opportunities, beyond prizes and mere competition.
Here are a few compelling reasons to spark your interest and encourage you to join a web3 hackathon:
1- Learning opportunities: web3 hackathons provide an immersive learning experience where participants gain hands-on experience with blockchain technologies and innovative tech stacks that often are not yet known to the broader web3 community. This process of exploration and experimentation will encourage you to think outside the box and expand your skill set.
2- Social skills: during the hackathon, builders work together in group projects within a short time frame, which requires intense collaboration and teamwork. This environment helps you develop social skills like effective communication, idea-sharing, and collective problem-solving to achieve common goals. These skills are not only crucial during the hackathon but also highly valuable in professional settings.
3- Networking: beyond the bonds formed with team members, hackathons present a unique opportunity to network with experienced professionals, mentors, and investors. These connections are a golden opportunity to access expertise, guidance, collaboration opportunities, and potential career opportunities.
4- Skill development: participating in web3 hackathons is a great way to boost your coding skills and gain hands-on experience in decentralized development. By working on real-world applications, you not only improve quickly but also tackle meaningful challenges, making the hackathon experience incredibly rewarding.
5- Problem-solving: one of the key benefits of participating in web3 hackathons is the opportunity to develop adaptability in dynamic environments. Throughout the hackathon, participants often face different challenges, ranging from conceptualizing ideas to troubleshooting technical issues, which require quick thinking and proactive decision-making.
6- Portfolio building: projects developed during web3 hackathons provide concrete evidence of a builder’s technical skills and problem-solving capabilities. Including these projects in a web3 resume or portfolio not only showcases a builder’s innovative thinking but also their ability to design, develop, and deploy solutions using blockchain technologies. This can significantly enhance their appeal to potential employers or investors.
7- Feedback and mentorship: during web3 hackathons, participants have the unique opportunity to receive direct feedback from mentors, judges, and investors, each offering a distinct perspective that can be critical for growth and improvement.
8- Personal growth: participating in web3 hackathons can be a transformative experience. Throughout the event, builders are faced with uncertainty and setbacks and pushed outside their comfort zones. This builds on resilience, adaptability, and a growth mindset, making web3 hackathons transformative experiences of self-growth and confidence.
Choosing the right web3 hackathon
There are plenty of web3 hackathons out there, each offering its own unique experience. Choosing the perfect one involves considering various factors to ensure you find the best fit for your goals, skills, and schedule.
- Consider the time commitment — some hackathons may span a few days, while others may span several weeks. Make sure to choose a hackathon that fits well with your schedule and availability.
- Practical considerations — is the hackathon remote, in-person, or hybrid? Choose the format that best aligns with your needs and circumstances.
- Assess the networking opportunities — assess the networking opportunities provided by each web3 hackathon, and prioritize those that offer ample chances for connecting with industry professionals, mentors, and potential collaborators.
- Prizes and incentives — explore the prizes and incentives offered, as these can vary widely and may influence your motivation and commitment to participating.
- Find platforms that host web3 hackathons — research and identify platforms or organizations that frequently host web3 hackathons. These platforms often curate events, provide resources, and offer a centralized location for discovering upcoming hackathons.
- Choose hackathons that provide post-hackathon support to grow your project — after the hackathon concludes, it’s crucial to have ongoing support and resources to continue developing and refining your project. Look for hackathons that offer post-event mentorship, incubation programs, or access to funding opportunities to help take your project to the next level.
TAIKAI, the platform to find the best web3 hackathons
TAIKAI is a specialized hackathon hosting platform for web3 hackathons that hosts hundreds of hackathons every year. The platform rolls out new hackathons with new registration opportunities every week, so make sure to visit the hackathon homepage regularly.
Beyond web3, TAIKAI also hosts hackathons with themes on artificial intelligence, gaming, finance, energy, space, and many others. To discover the hackathon that best suits your interests and skills, just head over to TAIKAI, where you can browse the listings or filter by topic.
TAIKAI has partnered with leading DAOs and web3 projects to host many web3 and blockchain hackathons, that include ETH hackathons, such as ETHLisbon, ETHSamba, ETHTaipei, ETHLatam, ETHOxford, ETHRome, and ETHChicago, among others.
The TAIKAI Garden
Soon, the TAIKAI Garden will launch to provide a supportive ecosystem for web3 projects to flourish after the hackathon. The Garden aims to support TAIKAI’s community of +84,000 builders by providing ongoing resources and support to help hackathon projects evolve into fully-fledged projects in the post-hackathon phase, utilizing $TKAI as the utility token.
You can learn more about the TAIKAI Garden and its impact on the web3 space in the TAIKAI Garden Whitepaper.
A final word
Web3 hackathons are characterized by a strong sense of community where newcomers and experienced industry professionals engage, exchange ideas, and collaborate together. While these events often offer generous prizes and rewards, the true value of web3 hackathons lies in the intangible benefits they provide.
The connections made, the invaluable insights, and the inspiration that lingers long after the last lines are written are what make a web3 hackathon an experience like no other. There are web3 hackathons catering to every skill set and personal interest, so the possibilities are endless!
Take the initiative to explore, discover the perfect fit for you, and start BUILDing 🫶
About TAIKAI
Join TAIKAI today and become a part of our thriving community of passionate web developers. You’ll have the chance to showcase your skills, collaborate with top tech companies, and win exciting prizes. Sign up now and start hacking your way to success!
