Gate Io Labs Invests in Magic Square, World’s First Crypto App Store

[PRESS RELEASE – Singapore, Singapore, 26th September 2022]

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 bolster 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 investments 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, 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.

The Magic Store is the core product of Magic Square. The multi-dimensional platform is integrated with DAO mechanisms, where the community vets, ranks, and prioritizes the apps, enabling users to discover applications safely, and incentivizing developers to continuously improve their offerings with a transparent and fair ranking system.

“Gate.io Labs is thrilled about this collaboration with Magic Square and how it will shape the future of web3. We believe the platform that prioritizes users will emerge as a new star in the crypto space while working toward the same objective,” Gate.io Labs commented.

Andrey Nayman, Co-Founder & CEO of Magic Square, said “The future is here. We are super excited that Gate.io Labs, with other industry leaders like Binance Labs, KuCoin Labs, and Republic Capital are all coming together to transform the crypto experience with us.”

About Magic Square

Magic Square is a web 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 earning metrics to incentivize the participation of validators, creators, and users.

Users can access all of the community vetted content with one click using the MagicID (Decentralized ID). This multi-chain wallet solution aims to become the Web3 alternative to Google or Apple connect.