CoinMarketCap has announced the launch of the inaugural CMC Crypto Awards to recognize the accomplishments of networks, people, and technology in the crypto industry.

The awards are scheduled to take place between Feb. 21 and March 6.

The selection of winners will rely on CoinMarketCap data, insights from expert panels, and community votes, with the winners announced on the last day of the event.

CoinMarketCap CEO Rush Luton said:

“Our intention is for the CMC Crypto Awards to become the most recognized annual celebration of Crypto and Web3. Think of it as the ‘Oscars Of Crypto’, an entertaining way to bring the whole industry together and celebrate the people and projects that are driving the industry forward.”

CoinMarketCap plans to award excellence across eight distinct categories within the crypto sphere.

The nominees

The first award is the coveted title of Crypto of the Year, which aims to recognize groundbreaking innovation and enduring impact on the industry. The nominees are Ripple, Solana, Chainlink, Ethereum, and Toncoin.

In the Crypto Leader of the Year category, CoinMarketCap is looking to honor visionaries who combat fear, uncertainty, and doubt (FUD), propelling technological advancements, adoption, and regulatory progress worldwide.

Nominees include former Binance CEO Changpeng Zhao, Coinbase CEO Brian Armstrong, Messari CEO Ryan Selkis, Ethereum co-founder Vitalik Buterin, and Hong Kong’s Securities and Futures Commission (SFC) CEO Julia Leung.

The Meme Coin of the Year category aims to recognize humor and community engagement in the industry, the nominees include Pepe, Milady, Memecoin, Bonk, and Ordinals.

The Most Innovative DeFi award will honor protocols that have contributed uniquely to the evolving landscape. The nominated projects are Uniswap, Unibot, EigenLayer, MakerDAO, and Friend.Tech.

The Most Innovative L1, L2, Cross-Chain Project award will be given to networks that have demonstrated considerable scalability, security, and interoperability advancements. The nominees include Arbitrum, Aptos, Axelar, ZKSync, and Celestia.

CoinMarketCap also wants to acknowledge the significant contributions of social media influencers for enriching the crypto discourse and advancing the community. Nominees include Lookonchain, ZachXBT, CryptosRUs, Wendy O, and The DeFi Edge.

Lastly, the Bridge Builder of the Year category aims to celebrate established brands that have embraced Web3 to enhance customer value.

Nominees for this award include BlackRock for championing a Bitcoin ETF, PayPal for its PYUSD stablecoin, Reddit for gamified avatars simplifying Web3 access, Starbucks for Web3 loyalty programs, and Nike for blending fashion, sport, gaming, and Web3 through strategic partnerships.