Decentralized education protocol Open Campus has announced a $1 million hackathon to promote decentralized app (dApp) development on the EDU Chain. The event, starting July 8, 2024, is backed by firms such as Animoca Brands, TinyTap, and ForbesWeb3.
Per a Worldmetrics report, by 2023, the global blockchain in education market was projected to reach $1.34 billion. Additionally, 59% of higher education institutions have adopted or are considering adopting blockchain technology.
Open Campus’s Codex Hackathon series aims to bolster dApp development in this sector via EDU Chain. The mainnet is set to go live later this year.
Hackathon Schedule:
- First Semester: Focus on decentralized finance (DeFi) and infrastructure applications.
- Second Semester: Target education dApps development.
- Third Semester: Develop education finance dApps and on-chain credential applications.
Prizes and Opportunities:
- A total prize money of $1 million worth of EDU tokens, the native cryptocurrency.
- Winners will also be part of a special developers cohort within the Open Campus accelerator program.
- Additional funding of up to $100,000 per project, along with compliance assistance, marketing, and developer support.
dApps developed during the hackathon will be accessible to over 500,000 Open Campus ID holders, its decentralized identifier (DID).
“The invitation into the Open Campus accelerator program and exposure to Open Campus ID learners amplifies the reach of the winning dApps and significantly enhances their potential to have a meaningful impact in the education sector through additional funding and support,” an Open Campus spokesperson stated.
The announcement follows Animoca Brands’ recent plans to purchase more EDU tokens from the open market, and Open Campus’s $3.15 million funding raised from Binance Labs in November 2023.
