Beta-Version of the First Community-Driven Crypto App Store is Here to Disrupt the DeFi Stage: Interview with Andrey Nayman, CEO & Founder of Magic Square

Beta-Version of the First Community-Driven Crypto App Store is Here to Disrupt the DeFi Stage

Blockchain, still known to be a nascent technological trend, stores a lot of space for improvement, which creates a vital need for a more advanced solution for multi-management and synchronous operation across space. That is why, Magic Square decided to create its own unique integrated solution in which interoperability is a starting point of successful navigation of the chartered waters of DeFi and thus, helps newcomers and app developers to realise their boldest aspirations of crypto in practice. Through the use of Magic Store, Magic Square community can get familiarized with the wide range of crypto-apps and NFT collections, all stored in one place. The first logical step would be to ensure easy, convenient and timely app access (as well as download), which can efficiently be done through customized dashboards and widgets of Magic Spaces. Eventually, Magic Connect is here to link a bundle of applications into a uniform inter-connected entity, ensuring accessibility through the singular Self-Sovereign Identity (SSI) login. 

At the present moment, Magic Square is preparing to go live through its Beta version, for which the waiting list has already been launched and is open to signing up. To emphasize the significance of this occasion, the team of Magic Square prepared to distribute rewards up to $250,000 among its participants. Another perk not to be missed is a free one-year Premium Magic Square membership granted to all participants in a combo with $SQR native tokens to be spent upon users’ discretion. Next, the Beta launch will be accompanied by a grand-scale Magic Square NFT-drop campaign with the potential to win up to $1,000 in NFTs; needless to mention, numerous other privileges will go hand-in-hand with the initiative, such as the possibility to obtain higher staking rewards for all beta participants. Ultimately, Magic Square platform is meant to create a broad appeal across the entire crypto community, not setting aside either investors, developers, traders – or simply those passionate about crypto innovation. Magic Spaces opens a door to interruption-free personalized space, where each can focus on the attainment of their goals. This way, the project becomes a frontrunner in streamlining blockchain interoperability, truly targeted at making DeFi a better place by giving away an almost premium product in the hands of all willing to make good use of it for free.    

Andrey Nayman, CEO & Founder of Magic Square, is here to participate in a discussion and share more about his brainchild.

Hello Andrey, thanks for being here. Could you please start by telling a few words about yourself?

Thank you for having me here. I have started my career after completing a Ph.D in mathematics in one of the largest hedge funds. After 7.5 years there, I have been appointed as a Managing Director in Radical Ventures, one of the most active VC’s in Israel. In Crypto space I’m from 2013, and the first notable point was participation in Ethereum ICO. 1.5 ago me and my partner Benjamin combined our efforts and started to build a Magic Square.

How was the idea of Magic Square born?

In the traditional industry, when a new project is born, its primary goal of market strategy is to be listed with App Store and Google Play. In the crypto industry, there are no stores, so the main go to market strategy is to be listed with exchanges, that will allow users to buy and sell tokens of the project, but won’t create a product adoption. 

We thought that if we will create a Community Driven App Store for all the crypto apps we will simplify the way users will discover and use dApps and for developers we’ll provide a better way to build their community.

 What are the core industry challenges you aim to confront with your project?

As we see it now, the biggest challenge for the entire industry is a mass adoption. Since the crypto industry is fragmented and complicated for most of the users. With Magic Square we want to create a new level of simplicity and usability, so more users that right now are not counted as crypto users will get onboard using our Platform.

Streamlining interoperability of DeFi is, no doubt, a daunting task that requires a lot of effort and technological aptitude. How does Magic Square attain that from the technical point of view?

I agree that interoperability is a very complicated challenge, we are partnering with deBridge, one of the most secured cross chain bridges. Through this partnership we allow our users to do all cross chain transactions like swaps, staking, lending, etc in one click.

From my intuition, the first community-driven crypto app store must be very much reliant on the people’s side of the process. How do you manage to attract and grow your community?

We are creating local partnerships in the target countries like Turkey, South Korea, Brazil and Mexico with leading KOL’s and PR agencies to drive more focused adoption of the Magic Store. The first users will enjoy higher daily rewards through the User to Earn program when every user gets daily rewards for all their in Store action such as likes, shares, comments, etc.

Being aware of your Beta campaign, what are the steps anyone should follow in order to join the waitlist?

Every user that wants to join our beta needs just to register through our website. 50k user will be chosen randomly and will get invitations by mail. All the first 50k users will get a free premium membership for 1yr for free.

Could you please break down the main pillars of the Beta launch waitlist campaign?

First 50k users that will be invited to participate in the beta will explore the Magic Store and will get additional rewards though different campaigns:

  • Validation Campaign where users can become Validators and earn rewards for validation of all the dApps that will be listed in the Magic Store. 
  • Bug Campaign, when users will get rewards for any found bug.
  • Referral Campaign – users getting rewards for any user that joins the Magic Square though their unique link.

The goal is to prepare the Magic Store for a Public Beta.

What can the community expect once the full-fledged version of Magic Square unfolds? What is the approximate timeframe of this process?

Users will get access to most of the vetted dApps in categories such Games, Metaverses, NFTs, Utilities, Finance and more. In the dApp page user will get access to all the available DeFi / CeFi and NFT trading in one place while they can access all the dApps and Services in one click though the Magic Connect (Crypto analogue to Google Connect)

We are planning to release our closed beta by the end of April and public Beta by the end of Q3 2022.

Generally, what’s your vision of the future of the DeFi industry? Which trends are going to dominate the DeFi landscape in the coming years?

I think that we’ll see more regulation in the DeFi space during the next couple of years. This will assist the DeFi products to be adopted by more people though the standard financial systems like banks or ETF.

Finally, I’m interested to hear what lies ahead of Magic Square. What is the project’s roadmap?

The entire Magic Square team is working hard in order to let us scale our platform globally and achieve global recognition. We are planning in 12 months after the launch to onboard most of the dApps and 500k daily active users that will use the platform.

Our product map is planned for the next 5 years and I promise ‌you will see amazing solutions that will increase the adoption of non crypto users like: 

  • Partnerships with Banks
  • Free of Charge Global Blockchain Developers Education Program
  • Magic Launchpad that will aggregate NFT and TGE launchpad in one simple solution
  • Etc.
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