Magic Square, a Web3 app store, and EMURGO Ventures, EMURGO’s VC and investment arm, have announced a strategic relationship. Magic Square has established itself as a frontrunner in the Web3 industry, and this partnership is a major step towards consolidating that leadership. The partnership furthers the development of the Magic Square ecosystem and paves the road for cryptocurrency adoption on a larger scale.
EMURGO Ventures and Magic Square
Magic Square is a premier destination for discovering the best Web3 apps and games as rated by the community. The platform gives its users greater control through its emphasis on incentives, participation, and interaction. In addition, it gives project developers a solid tool for fostering communities, finding new users, and keeping old ones around.
More than 200k individuals have joined since Magic’s May Public Beta launch, and there are now over 750 projects listed on the platform. Previous funding rounds, which included industry heavyweights like Binance Labs, Crypto.com Capital, and Republic Capital, set the stage for the current investment round, which is nearing its conclusion at an incredible $90 million value.
With its roots in the Cardano blockchain, EMURGO now acts as the project’s official VC arm. The company’s decision to invest in Magic Square demonstrates its dedication to encouraging creativity within the blockchain ecosystem and its conviction in Magic Square’s unique potential.
An important factor in EMURGO Ventures’ decision to back Magic Square was the company’s promise to serve as a hub through which users of all stripes may find and make use of a wide variety of Web3 applications. The VC firm believes this has the potential to make Web 3.0 more accessible by lowering entry barriers.
EMURGO Ventures is well-known for its ability to spot and fund outstanding Web 3.0 projects and entrepreneurs, which in turn accelerate the widespread implementation of blockchain technology. In addition, it is chain-agnostic, meaning that it works with multiple companies and networks to improve the blockchain industry as a whole.