🏪 Crypto App Store
Today's Highlights
- Magic Square - easy access to blockchain applications
- Today's Infographic
- In Other News - a few interesting developments we're tracking.
Magic Square - easy access to blockchain applications
Magic Square is a one-stop platform for all crypto user needs. Its mission is to bridge the gap between developers and users, so everyone from beginners to experts can have access to the world of blockchain apps, games, NFTs, CeDeFi, and more. The ultimate goal is to become the main discovery point of all crypto applications.
Magic Square has a built-in Decentralized Autonomous Organization (DAO) structure in which all users and developers have a say in the DApp quality control and listing process. This means that the app store is governed by the community. Based on the principles of decentralization, this provides a secure environment for all users to engage with the listed DApps on Magic Square, as low quality projects and potential scams are filtered out, similar to how invalid Bitcoin transactions are rejected by the miners. Magic Square is also building their own multi-chain Software Development Kit (SDK) that will help creators develop, validate, deploy, market, and monetize their DApps.
Magic Store is where users can browse and download DApps, similar to Apple’s App Store or Google’s Play Store. Within the Magic Store, users have a personalized dashboard called Magic Spaces where they can access all of their DApps and track their app activity in one place. By clicking on the DApp, it will be opened inside the tabs within the user’s personal space. This is a convenient feature as users do not need to switch between websites or crypto apps on their device. Additionally, Magic Spaces is fully synchronized across all devices, including desktops, web browsers, and mobile devices.
Users do not have to give up control of personal information to centralized databases like Apple or Google. Thanks to MagicID which is their Self-Sovereign Identity (SSI) and Decentralized Identifiers (DIDs) technology, Magic Square ensures that the verifiable credentials a user has can only be shared with DApps or other users they deem trustworthy.
Anyone who interacts with the DApp store is considered as a user. Magic Square’s core model “use-to-earn” distributes SQR tokens for all users for their in-app activities, which include downloads, comments, ratings, follows, shares, reviews, and using DApps. Individual DApps can even reward users for reviews with their own native app token, giving users the ability to earn double.
Magic Square is co-founded by Andrey Nayman (CEO) and Benjamin Vodovozov (CMO). They have raised a total of $5M in funding.