Santander’s first global competition of its kind with a prize pool worth $2 million will take place in Decentraland. You can read more about Santander X Global Challenge here or watch the recent YouTube announcement to find out what you have to do for your chance at winning.
Santander X Global Challenge Awards is a competition for blockchain projects that are currently in development. Decentraland has been selected to host the event because of their success with their own blockchain project and the use of virtual reality. Read more in detail here: what is decentraland.
International banking behemoth Santander has revealed that the Decentraland metaverse will host the prize presentation for its blockchain-focused Santander X Global Challenge.
An worldwide pool of fintech start-up and scale-up businesses are the target audience for the competition. Participants must develop solutions that increase user security and privacy in blockchain networks, promote the adoption of Decentralized Finance (DeFi) and tokenization, and extend and improve digital interactions with users via ideas like Web3 and the metaverse.
Six worthy winners will split a prize fund of $120,000 during the award ceremony, which will take place on July 14. Additionally, the winners will be given the chance to become a part of the bank’s entrepreneurial community and get a special NFT created by the Oxentia Foundation (who helped host the competition). The competition had 400 submissions when it first started, but it has now been reduced to 20 finalists, 10 of which are start-ups and 10 of which are scale-ups.
Additionally, virtual participants will be given commemorative wristbands and hats to wear with their metaverse avatars. Users must pre-register on the event’s official website or visit the Santander X location in Decentraland using their wallets and sign up in the Guestbook in order to obtain such wearables.