Interchain Hackathon Launched by Cosmos: A Promoter of ICS-721 Format Cross Chain NFT

On April 26th, Cosmos launched Interchain Hackathon, which has opened registration and project submissions. This Hacksong aims to promote the application of the ICS-721 format cross chain NFT that has been tested before. The winners of this Hacksong will have the opportunity to receive token rewards provided by Cosmos Hub, IRISnet, Stargaze, Uptick, and OmniFlix. In addition, participants also have the opportunity to apply for AWS Activate points worth up to $5000.

Cosmos starts Interchain Hackathon

Introduction

Cosmos has recently launched Interchain Hackathon on April 26th. This Hackathon aims at promoting ICS-721 format cross chain NFT that has already been tested. The purpose of this Hackathon is to boost the application of NFTs with more innovative ideas. The winners of this Hackathon will get a chance to receive token rewards provided by Cosmos Hub, IRISnet, Stargaze, Uptick, and OmniFlix. Furthermore, participants also have the opportunity to apply for AWS Activate points worth up to $5000.

What is Interchain Hackathon?

Interchain Hackathon is a 6-week long online Hackathon event organized by Cosmos to inspire individuals to come up with innovative NFT solutions that can connect different blockchains. This event focuses on showcasing the capabilities of ICS-721 format cross chain NFTs, developed by Cosmos. The primary objective of this Hackathon is to promote the collaboration of the modern NFT ecosystem with the interchain.

Benefits of Using Interchain NFTs

Interchain NFTs open up various possibilities of innovation and creativity in the field of blockchain development. It provides various benefits to developers and users alike. The most significant benefit of using Interchain NFTs is the unlimited potential of trading, with no limitation of connectivity between the different blockchains.
Moreover, Interchain NFTs provide the opportunity to create digital ownership of assets, where the users can benefit from their ownership on different platforms. The possibility of Interchain NFTs to open up new horizons of creativity and value is immense, thus posing as an attractive solution for developers worldwide.

Prize Structure of Interchain Hackathon

The Interchain Hackathon organized by Cosmos offers a generous prize pool of $200,000, from which winners will receive token rewards. The distribution of the prize pool is as follows:
– First Place: $50,000
– Second Place: $30,000
– Third Place: $20,000
– Fourth Place: $15,000
– Fifth Place: $10,000
– Sixth to Tenth Place: $5,000 each
In addition to the token rewards, the hackathon also offers participants the chance to apply for AWS Activate points of up to $5000.

Eligibility and Regulations

The Interchain Hackathon is open to all individuals, groups, companies, and organizations worldwide. The minimum team size required is one, and the maximum is six participants. The project submission must be unique and should not violate any regulations or laws.
Participants are encouraged to submit their projects before June 7th, 2021. The evaluation of submissions will take place on June 14th, 2021, and the winners will be announced on June 21st, 2021.

Conclusion

Interchain Hackathon launched by Cosmos is an innovative event aimed at promoting ICS-721 format cross chain NFTs. It provides a generous prize pool and numerous benefits to developers, including the chance to apply for AWS Activate points worth up to $5000. This Hackathon is a dynamic platform for individuals and organizations worldwide to showcase their technological skills and creativity to further enhance the NFT ecosystem.

FAQs

Q1. What is the deadline for project submission at Interchain Hackathon?
Ans: The deadline for project submission at Interchain Hackathon is June 7th, 2021.
Q2. What are the benefits of using Interchain NFTs?
Ans: Interchain NFTs provide unlimited potential of trading, digital ownership of assets, and open up new horizons of creativity and value.
Q3. What is the prize pool of Interchain Hackathon?
Ans: The prize pool of Interchain Hackathon is $200,000, from which winners will receive token rewards.