One rule
Use versions for planned change. Use errors for clear recovery.
A teammate should know two things from every failed call: what went wrong, and what they can do next.
Version with the URL
For a hackathon API, put the version in the path: /api/v1. It is easy to see, easy to test in Postman or curl, and simple to document.
Start with v1. Do not create v2 until you make a breaking change, such as renaming fields, removing fields, or changing how a URL works.