Nexo gives $12,000 to the winners of the first-of-its-kind NFT hackathon

An innovative competition organized by Nexo and Data Science Society in partnership with the Association for the Development of Sofia and the City Library, brings together young students and professionals in a challenge to predict the prices of NFT assets. Nexo, a world-leading regulated digital asset institution, and Data Science Society, a global network of data processing specialists, in partnership with the Association for the Development of Sofia, a local leader in organizing innovative competitions, are hosting the first-of-its-kind NFT (non-fungible tokens) value prediction contest – NFT Datathon – with a prize pool of $12,000 for the winning project and $3,000 in cryptocurrency awards. The challenge is expected to attract nearly 100 experts, students, and representatives from the academic, scientific, and private sectors. Among the jury members are lecturers from the Technical University – Sofia, Sofia University, New Bulgarian University, and representatives from the Association for the Development of Sofia (Sofia Municipality). From April 15 to 17, SofiaLab and the City Library – “Serdika” branch will host the innovative competition organized by Nexo and Data Science Society, in partnership with the Association for the Development of Sofia and the City Library. Within 48 hours, experts, analysts, and enthusiasts in the field of data processing will gain invaluable experience with data collected and prepared specifically for the NFT Datathon 2022 edition. Registration for the event is open until the 15th
April for everyone with interest and knowledge in the field of Data Science – students, researchers, experts in the field, crypto and blockchain enthusiasts ready to find a solution to such a difficult case. For more information, program and registration for participation, read more here: https://www.datasciencesociety.net/datathon_nft/ What is NFT Datathon: NFT Datathon is the first of its kind datathon (an innovative competition for working with huge databases), which challenges participants to develop a model for predicting the value of NFT assets. NFT is an abbreviation for Non-Fungible Token. Non-fungible tokens (NFTs) are a digital certificate of (intellectual) property based on the Ethereum blockchain network. Each NFT is unique, cannot be replicated or changed. The technology is comprehensive and can be used to verify ownership of almost everything – from works of digital art, through videos and films, digital audio files through consumer goods (clothes, shoes, watches, accessories) to real estate (houses and apartments). The cases on which participants will solve are related to price prediction and analysis of the dynamic NFT market. The main challenge lies in the variations in the value of NFT assets – from a few dollars to several million. For this purpose, the task will be divided into several parts and will provide an opportunity to examine and test different hypotheses. Nexo is a leader in NFT projects and in December 2021, through a partnership with Three Arrows Capital, became the first company offering liquidity against assets, which accepts NFTs as collateral for loans, creating a market and opportunities for those who prefer to keep their “blue chip” investments in NFT assets. About Nexo Nexo is one of the leading institutions for digital asset management in the world. The company's mission is to provide a full range of financial services with the benefits of cryptocurrencies through an exchange service with 300+ market pairs, the first of its kind Instant Crypto Credit Lines™, the high-yield savings product Earn, a proprietary exchange for trading digital assets and security at the highest level on its Nexo Wallet. Nexo has processed more than $80 billion for over 4,000,000 users in 200+ jurisdictions since its founding in 2018. About Data Science Society Data Science Society is a volunteer organization, open to all data enthusiasts wishing to work with data. The community builds a global network of participants, mentors, organizations, universities, institutes, partners and companies working in the field of Data Science. To date, the organization has implemented over 10 datathons, over 80 events, registered on the site are over 5000 subscribers from 50+ countries. The organization works actively with several universities including NBU, SU and TU, as well as with an international jury and experts in various fields of artificial intelligence development. About the Association for the Development of Sofia The Association for the Development of Sofia (ADS) is a resource center for research, analysis, innovation and experiment, which creates conditions and encourages constant dialogue between civil society, business, the Municipality of Sofia and academic institutions. ADS has organized over 25 local and international hackathons since 2013, through which it finds and implements innovative solutions for improving the urban environment, education, transport, healthcare and others. About the City Library The City Library is a library with a view to the future. In 2021, the first digital teen laboratory opened its doors at the City Library, which provides an opportunity for intellectual training and digital creative activities, for sharing innovative ideas in the digital society and for creating successful interactive products in the creative industry.

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Nauka.offnews.bg, 30.03.2022