Chainlink and Early Pitango Labs Unveil Summit and Hackathon to Boost Web3 Development in Israel

Chainlink and Early Pitango Labs Unveil Summit and Hackathon to Boost Web3 Development in Israel

Chainlink and Early Pitango Labs Unveil Summit and Hackathon to Boost Web3 Development in Israel

[PRESS RELEASE – Tel Aviv, Israel, 17th August 2022]

Upcoming Web3 Summit and Hackathon to enhance Israel’s Web3 startup ecosystem by connecting initiatives with mentorship and industry thought leaders.

Decentralized Ethereum-based oracle network Chainlink, in partnership with Israeli venture capital firm Pitango’s Web3 venture lab, First Labs, has revealed an upcoming Web3 summit and hackathon set to kick off in September 2022.

Chainlink and First Labs Collaborate with Outlier Ventures, Reichman University Venture, MarketAcross, and Israeli Web 3.0 Startups to Empower Groups and Individuals to Solve Crypto-Centric Challenges and Accelerate the Development of Open Source and Cross-Chain Infrastructure .

Through this summit and hackathon, Chainlink and First Labs will serve as a conduit for blockchain initiatives to connect with local mentors and thought leaders from Israel’s startup ecosystem to address blockchain development challenges. The registration process is already underway and the hackathon challenges will be announced on August 25, two weeks before the event kicks off.

Just a few months ago, Pitango, a leading Israeli venture capital firm, launched its Web3-focused venture capital lab named “First Labs”. First Labs aims to bridge the gap between Web2 and Web3 ecosystems. As part of First Labs’ efforts, Pitango has also introduced a Decentralized Autonomous Organization (DAO) called First DAO, which will spread investments across a range of Web3 projects.

First DAO is powered by an ever-evolving array of funding mechanisms, combining traditional venture capital with open, community-driven governance. Pitango’s Aviv Barzilay is leading the first DAO and DAO board members, along with local and global leaders, will mentor and support teams and individuals exploring technology challenges.

As an infrastructure provider, Chainlink ensures that on-chain smart contracts can securely and reliably connect to any external API and leverage off-chain computations to power various decentralized applications and protocols (dApps). The Chainlink team is keen to support a stack of emerging decentralized projects covering data DAOs, decentralized cloud services, and CCIP financial primitives, among others.

Both Chainlink and Pitango First understand that Israel’s startup ecosystem has made huge strides in Web3 development, proving its ability to build strong compute layers, development and cybersecurity tools, and other valuable tools. . However, despite the potential of the local ecosystem, there remains a shortage of internal drivers that support innovation and key global players like Chainlink. As part of this collaboration, the Israeli Web3 community will be directly connected to Chainlink and its global market presence to accelerate the growth and development of Israeli Web3 startups.

“We see many exciting opportunities for the Israeli tech community to contribute to Web3. To help drive innovation, we are collaborating with First Labs on the first-ever Web3 hackathon in Tel Aviv, with attendees being able to gain exclusive access to mentors and high-level thought leaders. We look forward to seeing what the Israeli startup ecosystem develops with the support of Chainlink, Oracle’s industry-leading solution. — David Post, Managing Director, Business Development and Strategy company, Chainlink Labs

Ayal Itzkoviz, Managing Partner at Pitango First, added, “We believe that in the coming years, Web3 will break down the boundaries of the crypto community and become a dominant modality for data sharing and new applications used by native users. of Web3 and former “Web2” users. and organizations. We are honored to partner with Chainlink Labs, the global leader in connecting real-world data to blockchain networks, and together help Israel’s thriving Web3 ecosystem realize its full potential.”

About Chainlink

Chainlink is a must-have connectivity solution for the blockchain industry, enabling decentralized on-chain applications and protocols to access real-world data seamlessly, securely, and reliably. Through its diverse range of oracles, Chainlink translates and transmits data from the real world to smart contracts operating on the blockchain and vice-versa. Powered by its ever-growing decentralized network of nodes, Chainlink secures billions of dollars across DeFi, blockchain gaming, insurance, and other major industries, while also serving as a universal gateway that connects the fragmented blockchain ecosystem to APIs and external data.

About the first labs

Launched by leading Israeli venture capital firm Pitango First, First Labs is a Web3-focused venture capital fund that aims to bridge the gap between Web2 and Web3. First Labs also has its open, community-driven governance DAO, First DAO, which is an investment DAO designed to identify and empower potential web3 startups. As the first traditional venture capital firm to launch an investment DAO, First Labs operates on three core principles: community, its projects, and connectivity between the traditional finance and crypto ecosystems.

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