Weekly Update #3
Finally! We had to iron out the game theory behind the Magic Cube token standards and their respective token curated registries, but now it’s official (at least until our next iteration lol). We’ve launched our website magiccube.io and our white paper. Please take a read if you want to see what we’re building. We happily welcome community feedback about both the system architecture and the code itself. The code will be on GitHub shortly. We haven’t been in a rush on that end because we’re working on perfecting Phase 1 of development.
Phase 1 is the centralized stage of the Magic Cube platform and will offer both IGOs and the Magic Cube Exchange. We will use shared servers with the game developers that launch IGOs, providing access keys only to them and verifying that their IGO promotion is in alignment with the code on our shared servers. We recognize that this puts a lot of trust into the Magic Cube team. However, we are highly incentivized to perform our role correctly, as if we do not, it would be disastrous for the ecosystem. We understand that user trust is not something that can be won back easily, and we are taking the necessary security precautions to ensure that we keep that trust. We’ll be having two IGOs this month. Stay tuned for next week for in-depth reports on each of them.
Centralized infrastructure is fine, but nothing new. We’re working hard phase 2 as well, the decentralized infrastructure. Public blockchains are still not scalable for our needs, and smart contract development can be very slow in order to achieve the necessary security contracts. That said, we’re confident that by the end of the year we’ll be able to allow for IGOs on the decentralized infrastructure, provided that the NEO public blockchain continues to make progress with scalability. The Cube Kit (our templates allowing game developers to IGO on NEO as both MCC7 and NEP-5 tokens) is coming along nicely as well, thanks to Lemon, our CTO. We look forward to updating you on both phases of our development as they happen simultaneously.
The good part about doing Phase 1 and Phase 2 together is that it allows us to go to market more quickly and then iterate both the front end and back end at a faster pace than our competitors. The gaming market within the blockchain is going to be ruthless, and we’ll be working hard to stay ahead of the curve.
We’re in talks with numerous gaming companies in the US that are showing strong interest in IGOing. While we’ve always had a strong foothold in China (the largest gaming market in the world), the US market (the second largest in the world) has been on our radar for some time and we are making strong tailwinds. More updates on that end coming soon.
If you are a game developer, especially for mobile social games, please reach out to us! Mobile social games are going to be the first token standard we implement into the platform, and your game will have the chance to be exposed to millions of people across the globe, all of which will have the opportunity to be early adopters of your project.
Our CEO, Rudy, and our Head of Business Development, March, were in Hong Kong this past week for the Hong Kong International Blockchain Summit, where they hung out with some of the top projects in the space. They also stopped by Shanghai for Wanxiang’s (the Consensys of China) fourth global blockchain summit. Lots of work, fun, and business development, as usual.
Our COO, Andrew, will be in Boston this weekend for the Neo Global Capital portfolio company conference. You’ll be able to find him in a white Magic Cube shirt with a blazer, because that’s how we roll.
Stay tuned for the two IGOs that will be coming shortly. We’re very excited about exposing millions of gamers to a Web 3.0 gaming ecosystem!