International banking giant Santander has announced that the reward ceremony for its blockchain-focused Santander X Global Challenge will take place in the Decentraland metaverse. 

The competition is aimed at an international pool of fintech start-up and scale-up companies. Participants must create solutions which focus on how to improve user privacy and security in blockchain networks, foster the adoption of Decentralised Finance (DeFi) and tokenisation, and enhance and expand digital interactions with users through concepts such as Web3 and the metaverse. 

Taking place on July 14th, the award ceremony will see a prize pool of $120,000 shared between six well-deserving winners. The winners will also have the opportunity to join the bank’s entrepreneurship community, as well as receive an exclusive NFT designed by the Oxentia Foundation (who helped host the competition). The competition began with 400 entries, however now it’s been whittled down to 20 finalists, 10 of which being start-ups, and 10 being scale-ups. 

Virtual attendees of the ceremony will also receive commemorative caps and bracelets which they can kit out on their metaverse avatars. To become eligible to receive such wearables, users must pre-register on the official event page or access the Santander X space in Decentraland using their wallets and signing up in the Guestbook.  

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