Yesterday, Magic Square — a leading Web3 app store — unveiled its ‘Ecosystem Grant Program’, earmarking $66 million to fuel innovation and growth within projects on its platform.
Such an initiative follows closely after the company’s recent acquisition of the token launch platform TruePNL. By harnessing TruePNL’s capabilities, Magic Square announced the development of a white-label solution for a staking and launchpad platform.
This is where the recently debuted launchpad comes in, enhancing the visibility of projects and expanding their audience by intensifying marketing initiatives through funding.
With 120 million of its native token $SQR allocated for financial backing— representing 12% of the total circulating supply — the Ecosystem Grant Program offers substantial support to all participants.
Empowering Technological Breakthroughs
Backed by industry heavyweights like Binance Labs and Crypto.com Capital, Magic Square is at the forefront of the Web3 sector, championing more than 1,200 applications while connecting over 3.6 million unique wallets.
Magic Square’s Ecosystem Grant Program further stands as a testament to its dedication to the Web3 realm, underscoring its efforts to cultivate an environment conducive to technological disruptions and breakthroughs.
Beyond enriching the marketing coffers of diverse applications, the program aims to supercharge user involvement through enhanced incentives for participants to engage with the associated campaigns.
Such a step promises to unlock thrilling opportunities for developers and consumers in the Web3 realm. It mirrors Magic Square’s vision for a decentralized, interactive, and community-centric digital ecosystem, potentially paving the path for future support structures in the Web3 app marketplace.
Notably, since 2021, TruePNL has raised over $6 million for 62 projects via its launchpad. Despite being acquired by Magic Square, it will maintain its autonomy, with its native $PNL token retaining all current features.
Explore Magic Square >> Here
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The post Magic Square Drives Web3 Growth with $66M Grant Program appeared first on NFT Plazas.
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