Magic Square has strategically acquired TruePNL to bolster it’s web3 app store’s technical foundation and expand its service offerings.
In a calculated move to strengthen it’s web3 app store’s technical foundation and service offerings, Magic Square has acquired TruePNL, including its essential tech components while retaining the TruePNL brand and token.
The acquisition is a major step towards building a more connected and innovative web3 ecosystem, with the goals of increasing user engagement and introducing new features like flexible launchpad and SQR staking.
The announcement of Magic Square’s acquisition of TruePNL, a token launch platform renowned for its innovative approach to project listings, is a strategic move that highlights the increasing integration within the web3 ecosystem. Binance Labs and other prominent investors have backed Magic Square, a web3 app store.’In a calculated move to strengthen it’s web3 app store’s technical foundation and service offerings, Magic Square has acquired TruePNL, including its essential tech components while retaining the TruePNL brand and token.
The acquisition is a major step towards building a more connected and innovative web3 ecosystem, with the goals of increasing user engagement and introducing new features like flexible launchpad and SQR staking.
The announcement of Magic Square’s acquisition of TruePNL, a token launch platform renowned for its innovative approach to project listings, is a strategic move that highlights the increasing integration within the web3 ecosystem. Binance Labs and other prominent investors have backed Magic Square, a web3 app store.
The transaction, which was finalized for an unknown amount of money, is a major milestone for Magic Square as it strives to enhance its services and increase its presence in the web3 industry.
Enhancing the Base for Future Expansion: Magic Square
By acquiring TruePNL, Magic Square has done more than simply grown its company; it has also strategically improved its IT infrastructure and the services it offers. Aside from the TruePNL brand, website, social media profiles, and the TruePNL (PNL) token, the acquisition includes TruePNL’s whole front and backend infrastructure, according to Magic Square founder and CEO Andrey Nayman. The move will enhance Magic Square’s capabilities, especially in the rapidly growing crypto ecosystem’s staking and launchpad services.
The web3 app store and TruePNL started talking last month, with the intended intention of looking at a white-label solution for it’s future platforms. Nevertheless, Magic Square moved swiftly and decisively to seize synergistic potential, as these negotiations soon turned into the acquisition deal that was finalized this week. The acquisition, which did not need any pending approvals, shows that Magic Square is serious about growing its ecosystem and making things better for users and project makers.
Improving interaction and satisfaction for users
Ever since its launch in 2021, the Web3 app store has been dedicated to changing the way people find and engage with web3 applications. By utilizing a validation method that is controlled by the community, the platform guarantees that only top-notch projects are shown, creating a reliable environment for its users. Users can earn Karma points for their interactions and redeem them for daily rewards from a large pool of SQR tokens, thanks to its unique incentive structure. Both the system’s incentives for participation and the community’s central role in the ecosystem’s development and maintenance are built into the system.
Magic Square is even more dedicated to improving customer engagement and experience after acquiring TruePNL. Magic Square is all set to deliver new features like SQR staking for Annual Percentage Rate (APR) rewards and a more versatile in-house launchpad thanks to the integration of TruePNL’s technical infrastructure. Projects will be able to choose solutions that are perfect for them thanks to these advancements, which will boost creativity and diversity in the ecosystem.
A world where cooperation and creativity are the cornerstones
Magic Square’s acquisition of TruePNL is a smart move toward creating a more flexible and connected web3 environment. Thanks to the well-planned integration method, both TruePNL and PNL may continue to function independently, guaranteeing the longevity of both platforms and the PNL token’s value. In addition to helping out the communities already active on both platforms, this change paves the way for even more innovative joint ventures in the future.
The incorporation of TruePNL’s technical lead, Vyacheslav Tyurdenev, into Magic Square’s team, together with the continuation of TruePNL’s talented 12-member staff, guarantees that Magic Square will benefit from the extensive knowledge and skills housed within TruePNL. Users and projects within the ecosystem are set to benefit from increased growth and engagement prospects brought about by the combination of expertise and technology between the two organizations. This merger is likely to foster additional innovation.
In summary
A strategic alignment that has the potential to greatly improve the web3 landscape, Magic Square’s acquisition of TruePNL goes beyond a simple economic transaction. The combination is expected to bring about unprecedented opportunities for users and project creators by merging TruePNL’s strong token launch platform with Magic Square’s creative app store and community-driven philosophy. To promote an atmosphere that encourages innovation, participation, and expansion in the ever-changing web3 area, such integrations are essential. With this purchase, the web3 app store has shown its future ambitions and vision, and it has also demonstrated the possibility of collaborative success in the rapidly growing web3 area.