Gate.io Labs invests in Magic Square, the world’s first crypto app store
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Singapore, Singapore, 26 September 2022, Chainwire
Magic Square announced today that Gate.io Labs has made a strategic investment in the project, marking Gate.io’s ongoing efforts to support promising blockchain projects globally. With this investment, Magic Square will further strengthen its digital presence across continents and build an authentic community worldwide as it builds a holistic ecosystem with extensive support from Gate.io Labs and other backers.
Established in 2013, Gate.io is one of the oldest, leading cryptocurrency exchanges offering products and services to over 10 million users worldwide. Gate.io Labs, the venture capital arm of Gate.io, is focused on investing in decentralized infrastructure, ecosystems and applications that will reshape the world in the digital age.
Magic Square is a one-stop platform for all crypto user needs. Its mission is to bridge the gap between developers and users, allowing everyone from beginners to experts to access the world of blockchain apps, games, NFTs, CeDeFi and more. The ultimate goal is to become the main discovery point for all crypto applications.
The Magic Store is the core product of Magic Square. The multidimensional platform is integrated with DAO mechanisms, where the community vets, ranks and prioritizes the apps, allowing users to discover applications in a safe way, and incentivizes developers to continuously improve their offerings with a transparent and fair ranking system.
“Gate.io Labs is excited about this collaboration with Magic Square and how it will shape the future of web3. We believe that the user-first platform will emerge as a new star in the crypto space as we work towards the same goal,” commented Gate. io Labs.
Andrey Nayman, co-founder and CEO of Magic Square, said “The future is here. We are very excited that Gate.io Labs, with other industry leaders such as Binance Labs, KuCoin Labs and Republic Capital, are all coming together to transform the crypto experience with us .
About Magic Square
Magic Square is an online app store that simplifies Crypto. Users can discover dApps, CeFi and DeFi, NFTs, games and much more in one place with an intuitive design.
The Magic Store is a Web3 solution where the community vets, ranks and prioritizes the apps via a DAO mechanism, with clear earnings values to incentivize the participation of validators, creators and users.
Users can access all community controlled content with one click using MagicID (decentralized ID). This multi-chain wallet solution aims to become the Web3 alternative to Google or Apple Connect.
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