Magic Square, the innovative Web3 app store, has received a strategic investment from EMURGO Ventures (EMV), a venture capital and investment arm of EMURGO, which is a founding entity of the Cardano blockchain. This investment is a crucial step for Magic Square in its mission to revolutionize the Web3 app ecosystem. With over 200,000 registered users and more than 750 listed projects since its Public Beta launch in May, Magic Square has already attracted high-profile names such as Gala Games, Kraken, and KyberSwap. The current investment round, valued at $90 million, has garnered interest from industry heavyweights like Binance Labs and Crypto.com Capital.
Key Points:
– EMURGO Ventures has invested in Magic Square to support the development of a gateway for users to discover and use Web3 Apps from various chains.
– Magic Square’s successful growth includes over 200,000 registered users and more than 750 listed projects.
– High-profile projects such as Gala Games, Kraken, and KyberSwap have contributed to the platform’s appeal.
– The current investment round, valued at $90 million, includes participation from industry leaders like Binance Labs and Crypto.com Capital.
– Magic Square empowers users to discover community-vetted apps and games from the Web3 ecosystem while offering developers a solution for community growth and user acquisition.
Hot Take:
The strategic investment from EMURGO Ventures is a significant endorsement of Magic Square’s mission to revolutionize the Web3 app ecosystem. With the support of industry leaders and a growing user base, Magic Square is well-positioned to become a leading player in the Web3 space.
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