Over 400 Participants Worldwide... 'Seoul Web 3.0 Festival' Held

A Total of 115 Teams and 417 Participants Compete in the Contest

The 'Seoul Web3.0 Festival 2023 (SWF2023),' attended by global startups and communities in the Web 3.0 field and over 400 young people worldwide, is being held.

On the 31st, Seoul City announced that Mayor Oh Se-hoon attended the opening ceremony of SWF2023 at Dongdaemun Design Plaza (DDP).

Web 3.0 refers to a new form of internet (web model) that uses decentralized technologies such as blockchain, allowing service participants to share profits. It represents a next-generation decentralized digital asset ecosystem. Representative Web 3.0 technologies include blockchain, NFTs (Non-Fungible Tokens), and the metaverse.

SWF2023, co-hosted by Seoul City, Baobab Partners, and the Seoul Design Foundation, runs until the 2nd of next month. Major domestic and international companies participate, offering various programs such as hackathons (programming competitions), demo days (demonstrations), corporate exhibitions, networking parties, NFT forums, and exhibitions.

The core event, the hackathon (programming competition), received applications from a total of 115 teams and 417 participants. After the first round of screening, 65 teams and 245 participants began competing from this day. Participants will plan and develop new services by combining daily given sub-themes with Web 3.0 technologies over a 3-day, 2-night period.

Seoul City will award the top 10 teams (1 overall first place, and 9 places ranked 1st to 3rd by theme). In particular, three outstanding teams in the category of accompanying the disadvantaged will receive support through startup planning programs, including counseling, space support, and networking for investment attraction.

Additionally, from this day, exhibition spaces featuring 15 domestic and international companies showcasing key Web 3.0 trends will be operated.

Alongside this, linked events such as NFT forums and exhibitions hosted and organized by the Seoul Design Foundation will be held so that not only companies and industry workers but also citizens can enjoy Web 3.0 trends and culture.

Starting from the 1st of next month, a demo day presenting excellent products and services from domestic and international Web 3.0 companies will be held. After on-site judging, the top three teams will be awarded the Seoul Mayor’s Award, the Seoul Design Foundation Representative Award, and sponsor company awards (Hanwha Life Dreamplus, HK Central Research, etc.).

Mayor Oh said at the opening ceremony, “I am confident that when your creative and innovative ideas come together, Seoul will become a leading Web 3.0 hub driving change.” He added, “Seoul City will continue to lead the creation of an international Web 3.0 ecosystem by spreading digital technology and nurturing talent.”

This content was produced with the assistance of AI translation services.