Magic Square is launching Phase I of the Magic Store Beta after the completion of seed funding supported by Binance Labs, Republic Capital, KuCoin Labs, DAO Maker, and GSR, alongside other leading investors in the blockchain space.
The first app store in the crypto space is finally live. Over the course of the last few months, Magic Square witnessed much anticipation with over 100,000 people signing up for Phase I of the Magic Square Beta.
In Phase I of the Beta, the Magic Store would be visible to everyone, and a selected group of Magic Square community members would have exclusive access to use and earn throughout the experience.
In the future Beta phases, more and more Community Members would gain access to Use and Earn. The Magic Store goes beyond a decentralized solution. It is home to all crypto applications.
What is the Magic Store?
The Magic Store is a central place for users to discover and access all kinds of crypto apps, NFTs, DeFi, Metaverse, GameFi, Exchanges, and more, filtered through searchable categories.
Up until now, discovering new crypto applications has not been easy: Apple and Android Stores feature very few crypto-related applications, and alternate “dApp store” databases have proven to be extremely limited in their utility for app users and creators alike.
“Our goal as a platform is to create an integrated, interoperable, united system to make using crypto intuitive and secure,” said Andrey Nayman, CEO, and founder. “The fragmented reality of the decentralized sphere is barring wider adoption of a technology that has revolutionary potential, and Magic Square is working to change that.”
The Magic Store provides a utility-rich interface for crypto-app discovery. At the heart of the Magic Store vision, is the quality assurance it promises. Magic Square has introduced a unique system of community validation to ensure that all featured apps on the Magic Store are secure and of a high-quality standard.
Community App Validation
Decentralization is inevitable to make sure that the products, apps, and services you use are trustworthy. Verifying that the crypto apps you use are quality has not been simple, that is, until now.
On the Magic Store, each app must pass through a rigorous community validation process to verify that it meets quality and security standards before it is featured on the Magic Store. The implications for this feature are huge for crypto app users and creators alike.
What does this mean for you as a Magic user?
The community validation process ensures the project itself is legitimate. You will find the scoring of each app before you start using it.
You will be the person to decide for yourself if it will fit your needs and meet your personal standards based on the scoring of the Magic Community validators.
As a Magic Square user, you can apply to become a validator yourself and earn rewards for reviewing and voting on new apps.
You can also settle for use-to-earn rewards and earn tokens for leaving useful reviews, comments, and likes for other users to benefit from.
The bottom line is that the Magic Store enables you to stop wasting time and energy worrying about whether an app is good enough, and instead, scan through easily searchable categories on the Magic Store to ease your crypto journey.
How will developers benefit?
Crypto app developers, up until now, have needed to invest disproportionate amounts of time and money into marketing campaigns, creating their own websites, building communities, establishing credibility, and more.
Developers have to pass their apps through the community validation process as a first step. Once validated, the apps will be immediately made accessible, searchable, and trusted by eager crypto users.
Magic Square provides additional benefits for every developer, such as grant funds to promote discovery and build traffic, as well as Magic Square-sponsored contests and the use-to-earn model which promotes traffic across the entire ecosystem.
What do beta users get?
The Magic Store is only the beginning. Beta users in the first phase can now access the Magic Store to explore community-validated apps and searchable categories with a user-friendly interface. The Magic Square ecosystem is only getting better as it materializes.
What can users look forward to?
Whether you’re a beta user, a developer, or you’re learning about the Magic Store for the first time, there is so much to anticipate for the future of crypto apps and the Magic Square ecosystem.
Magic Square is in the process of building onto the Magic Store with supporting features that will make the product exceedingly attractive to users and creators alike.
There will be an interface called “Magic Spaces” which will be a personalized space for users to manage and use all of their apps within internal Magic Square tabs. Magic Spaces will eliminate the need to download apps onto devices or open them on external websites or platforms.
Everything will be consolidated, simplified, and streamlined inside Magic Spaces.
The “MagicID” will be the entry point into the Magic Spaces interface, enabling you to log in to all of your apps with one secure tap.
Self-Sovereign Identity (SSI) technology will keep you in control of all of your app permissions, and you’ll be able to manage your privacy easily from within the Magic Square app.
Ready to show the world your app?
Magic Square designed a one-of-its-kind affiliate marketing program, Magic Affiliates, to bring affiliate marketing to the next level with vast resources and funds.
Magic Square is committed to building the top affiliate network in crypto, driving growth, traction, and conversion for all top-quality apps.
In the meantime, affiliates will find exclusive offers and abundant opportunities to enjoy the perks of what Magic Affiliates has to offer.
Never before have we seen such user-facing products in the crypto space to create a symbiotic relationship between crypto app users and creators built around trust and community.
Be sure to follow Magic Square closely on all official channels as the waitlist for Phase II will be opened soon.
Explore the Magic Store here.