The first Supabase Hackathon is starting now, offering a 7-day opportunity for individuals or teams of up to 5 people to build an open-source project using Supabase. The hackathon's goal is to encourage creativity and innovation in building projects with Supabase. Participants can submit their projects by the deadline on Friday, August 6th, 2021, and will be eligible for prizes in categories such as Best Overall Project, Most Visually Pleasing, and Most Technically Impressive. The judging panel includes well-known figures from the tech industry, including @swyx, @themarcusbattle, and members of the Supabase Team, who will evaluate projects based on creativity, functionality, visual appeal, technical expertise, and fun factor. Participants can find resources and guides to help them get started with building their project on GitHub, and the Supabase Team will be actively participating in the hackathon, providing support and guidance through Discord channels.