EMURGO Ventures Forms Strategic Partnership With Web3 App Store Magic Square
Summary
Magic Square has established itself as a frontrunner in the Web3 industry, and this partnership is a major step towards consolidating that leadership. Previous funding rounds, which included industry heavyweights like Binance Labs, Crypto.com Capital, and Republic Capital, set the stage for the current investment round, which is nearing its conclusion at an incredible $90 million value.With its roots in the Cardano blockchain, EMURGO now acts as the projects official VC arm. The companys decision to invest in Magic Square demonstrates its dedication to encouraging creativity within the blockchain ecosystem and its conviction in Magic Squares unique potential.An important factor in EMURGO Ventures decision to back Magic Square was the companys promise to serve as a hub through which users of all stripes may find and make use of a wide variety of Web3 applications. The VC firm believes this has the potential to make Web 3.0 more accessible by lowering entry barriers.EMURGO Ventures is well-known for its ability to spot and fund outstanding Web 3.0 projects and entrepreneurs, which in turn accelerate the widespread implementation of blockchain technology. In addition, it is chain-agnostic, meaning that it works with multiple companies and networks to improve the blockchain industry as a whole.