Magic Square, a Web3 app store, revealed $66 million worth of its native SQR token (12% of the total supply) for grants benefiting projects listed on its platform as per the information shared with Finbold on March 6.
The grants are intended to cover the initial marketing expenses of selected apps and games, helping them enhance their visibility and engagement with their target audience.
At the time of writing, SQR tokens are valued at around $0.55, with a total market capitalization of approximately $550 million.
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Backed by Binance Labs and Crypto.com Capital, Magic Square is an app store centered on Web3, boasting a catalog of over 1,100 apps and games and a user base exceeding 3.6 million unique wallets.
Who is eligible for a Magic Square grant?
Only projects listed on the Magic Store are eligible for a grant, and the listing is completely free.
Magic Store welcomes a wide range of Web3 projects, including apps, games, wallets, exchanges, DeFi, and more.
Most notably, having a token is not a requirement for listing.
What do the grants mean for the Magic Square ecosystem?
The Grants Program extends beyond project support — it also benefits the wider Magic Square community.
Through participation in “Hot Offer” campaigns, for example, users earn rewards and amplify campaign engagement while maximizing rewards.
This dual benefit enhances the user experience on the platform for both projects and users alike.
Magic Square also provides campaign support and integration, leveraging its large user base to achieve campaign objectives seamlessly.
In other words, projects can initiate campaigns without upfront integration, simplifying the process.
Furthermore, grants serve as additional bonuses atop campaign budgets, offering extra users and reduced fees.
This feature makes Magic Square an appealing platform for developers with budget constraints or reservations about prepaid services.
