Crypto news: Elrond, now MultiversX, opens registration for its xDay Hackathon

Elrond, now MultiversX, has officially opened registration for its global crypto xDay Hackathon, which will take place on 21 September and 21 October. The hackathon will offer prizes and funding of up to $1 million. 

Elrond and the Global xDay Hackathon crypto event of the MultiversX Foundation

Present-day Elrond, MultiversX, has announced the opening of registration for the new xDay Hackathon, which will take place on 21 September and 21 October. 

This is one of the largest hackathons and dev events in Europe, aiming to promote a month-long exploration of cutting-edge technologies, such as Web3, AI and Metaverse, in a focused collaboration between developers, experts and entrepreneurs.

The xDay Hackathon was organised in cooperation with the leading multi-chain software engineering communities, DoraHacks and Encode.

Elrond and the xDay Hackathon: how is the crypto event organised?

The xDay Hackathon invites developers of all levels and from all over the world to participate and propose innovative use cases for six main technology areas.

Together with Encode, the first event, Future of Technology, offers developers a choice of five tracks: Artificial Intelligence, Decentralised Finance (DeFi), Infrastructure and Development Tools, Payments, Mobile Apps.

For the second event, Gaming and Metaverse, organized together with DoraHacks, participants will dive into the world of gaming and the Metaverse, exploring new frontiers and shaping the future of interactive entertainment.

In addition, the xDay Hackathon at the former Elrond, sees direct and substantial cash prizes, with participation from VC investors and the launchpad ecosystem, which will open up significant business opportunities for the winning projects. Overall, the xDay Hackathon will provide up to $1m in prizes and funding.

In this regard, Beniamin Mincu, CEO of MultiversX said:

“Some of the best minds in tech are yet to be discovered, and some of the most defining ideas are yet to be built. The xDay Hackathon is a first step in creating the environment to make ideas happen. It’s a fascinating and hardcore journey toward the next tech frontiers.”

Finally, there will be MultiversX’s flagship event, xDay 2023 in Bucharest, Romania, organised from 19-21 October. 

For 24 hours, participants will get in touch with like-minded people, show their creations and compete for recognition on the big stage. 

The price of EGLD

At the time of writing, MultiversX (EGLD) is in a bearish trend and is worth $28.88. Over the past seven days, EGLD’s price has dumped -8%, while on the monthly chart, the dump is -23%. 

Yet, the crypto is ranked 48th in the overall crypto rankings by market capitalisation, with a total market cap of almost $750 million. 

Overall, the rebranding of Elrond into MultiversX in November 2022, which was also marked by the collapse of the crypto-exchange FTX, did not do EGLD much good. The crypto project’s opening to the metaverse does not seem to have been appreciated in terms of trend, seeing that the bear market has been going on for a long time. 

Not only that, in February 2023 Elrond also announced other kinds of novelties such as the integration of EGLD’s staking system into the Ledger Live app. This was the only time in EGLD’s chart that there was a price pump from $46 to $51, but soon after EGLD went back down.