Toyota and Astar join forces for the first web3 hackathon

The automotive firm will sponsor the event with the aim of developing DAO tools for business projects

Tecnología February 1
News Mundocrypto

The Astar Foundation and HAKUHODO KEY3, in collaboration with Toyota Motor Corporation, announce the first web3 hackathon. The event is sponsored by Astar and the web3 Foundation and features a reward of $100k for the winning projects chosen by Toyota, Astar, web3, Alchemy and HAKUHODO KEY3.

The hackathon will take place from February 14 to March 25, at the COSMIZE Event Hall. Participants will be tasked with developing a DAO support tool for business projects. Creating a Decentralized Autonomous Organization allows companies to set rules through smart contracts on the blockchain and operate transparently with the cooperation of many people.

“We are looking for intra-company DAO support tools for this hackathon which Toyota employees may actually use in the future. We are looking for potential products, not only for PoC within Toyota, but also for scaling to external parties”, Toyota, press release.

Toyota's initiative in sponsoring this hackathon stems from its growing interest in blockchain technology and its potential to improve efficiency and transparency in the business sector. Toyota, with more than 330,000 employees worldwide, is looking for DAO support tools that its employees can use in the future.

Astar Network founder Sota Watanabe noted that they are “very excited to host the web3 Hackathon at Astar with Toyota”. During the event, the main goal is to develop “the first PoC DAO tool for Toyota employees and also scale to external parties,” says Watanabe.

Nissan and Toyota joined the metaverse

March 2022 marked a new era for the automotive industry, with the entry of Nissan and Toyota into the metaverse. Both companies decided to take advantage of the possibilities of this digital universe to present their vehicles in an innovative and customer-focused way.

Nissan and Toyota announced a partnership with video game developer VRChat to create immersive virtual reality displays of their vehicles. Nissan focused on creating virtual rooms where customers could enjoy the vehicles without having to purchase or visit a dealer. On the other hand, Toyota also focused on the creation of remote work environments, offering virtual offices where its workers could carry out their activities remotely.

The entry of Nissan and Toyota into the metaverse demonstrated the importance of new technologies in the automotive industry. With its use, these companies wanted to advertise their products in an innovative way and also improve the experience of their customers and employees. The metaverse is a digital universe full of possibilities, and more and more companies are taking advantage of its opportunities to achieve sustainable and competitive growth in the market.

Toyota favors development in the bear market

Now, the first web3 hackathon on Astar sponsored by Toyota and Astar Foundation promises to be an exciting event for DAO support tool development for enterprise projects. With a total reward of $100k for the winning projects and the participation of leading companies such as Toyota, Astar, web3, Alchemy and HAKUHODO KEY3, it is a unique opportunity for developers interested in blockchain technology, will you be participating?