Hackathons have produced significant projects in tech like Uniswap and Polygon, but many hackathon initiatives ultimately fail. Despite ETHGlobal's success in hosting over 50 events and distributing $4.5M in prizes, statistics reveal that a mere fraction of the projects survive to become successful businesses. The rapid proliferation of hackathons leads to developer burnout as they face too many choices without clear measures of value. Unlike traditional startup incubators, hackathons prioritize short-term creativity over real-world viability, leading to overlooked potential in the Web3 space.
Hackathons are meant to be launchpads, but they often feel like idea graveyards—many projects never survive past the weekend despite the talent and potential.
With over 70,000 developers onboarded through hackathons, less than a fraction of projects manage to sustain themselves long enough to attract funding.
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