Buidl the Future: A Global Hack for Web3

DeFi(or “decentralized finance”) is an umbrella term for financial tools and infrastructure on public blockchains, primarily Ethereum. DeFi is global, peer-to-peer (meaning directly between two people, not routed through a centralized system), pseudonymous, and open to all.

Projects in this category develop financial tools that are powered by one or more of the sponsor's technologies. Refer to the list below to find each sponsor's bounty and click the link for more detailed information on prize amounts, submission guidelines, and judging criteria.

Web3 wallets are digital platforms that give access to the web3 space. They are essential to the dapp building and testing process. Moreover, through these wallets, users can interact with smart contracts, transact NFTs, develop blockchain platforms, and connect with communities. Web3 wallets create a wide range of valuable applications beyond the normal existing digital wallets out there.

Coinbase Wallet has become the premeir building tool for web3, recently launching tools focused on improving the developer experience, including native testnet faucets, a dedicated testnet asset tab, redesigned network management, including a network switcher on home screen
Multi-wallet.

We're excited to see dapps built with Coinbase Wallet and others to help users see how easy and safe it can be to expore and engage with web3

The Metaverse is an expansive virtual universe built on virtual reality, augmented reality and networking infrastructure. NFTs play a critical role in the metraverse because it allows there to be more transparent and tamper-proof authentication and ownership of digital assets within virtual worlds.

For this challenge, we're looking for NFT Marketplaces, games, or metaverse-focused dapps that really bring the next generation of metaverse-believers in to web3.

DAOs: Social networks that can rewire the world:

What the internet did for communication, DAOs can do for capital.

The internet and social networks have made it easier for like minded individuals to communicate than ever before, regardless of geographic location. The advent of digitally native money and finance have now enabled a new kind of social network that allows for like minded individuals to not just communicate, but also coordinate around capital. As with their predecessors, these new networks are unconstrained by geographic borders, capable of forming at massive scale or across a small number of select participants.

For this challenge, teams are encouraged to create a DAO (or DAO supporting Dapps) on the sponsor's technology. Social, business, environment; the sky is the limit!

a16z says “The classic challenge of decentralized networks is that they are public goods. Without a central entity to control decisions and capture profits, it is hard to incentivize their maintenance and development. Crypto helps solve this problem through decentralized coordination and providing economic incentives for development. Web3 will put power in the hands of communities rather than corporations.”

Public goods are part and parcel of Web3. They provide balance with free resources but can also provide means of compensation for those who give their labor and energy to building on the decentralized web.

For this challenge, we want to see something built that is free to use, open source, and non-competitive. Create something the world needs that only web3 can offer.

Here are the key challenges of building in web3.
- Decentralized contrbution vs Centralized building
- Company-owned data vs User-owned data
- Nacent infrastructure vs Mature infrastructure

How can we convince the next 100 million people that web3 is just as capable, safe, and usable as what they are familiar with in web2? What is it going to take for today's internet of users to see the value of decentralizing participation and owning their own data? How can we build the mature infrastructure that creates the safe and reliable home for web3 apps and data?

We want to see the dapps that really take the web2 users into web3. Dapps building trust, ease of use, and relevance for the end-user in a new space will be the ones that expand web3 into the space we all need it to be.