1. Project Introduction
The Magic Cube network (herein referred to as Magic Cube) is a blockchain-based, decentralized entertainment ecosystem. Magic Cube is committed to asset-binding all virtual consumer goods (games, music, film, etc.) and implementing a new token economy that drives network effects for entertainment projects. Magic Cube Technology Foundation Ltd. (the Foundation) is putting these ideas into practice based on its own experience in distributing, channeling and publishing games.
The promise of blockchain is a leap forward in the ability to engage in trusted transactions regardless of the surrounding institutional environment. Magic Cube intends to use blockchain technology to circumvent existing unfair institutional environments and drive network effects among users, with the goal of creating an entertainment ecosystem that fairly rewards producers and consumers of content. Magic Cube will initially focus on the gaming industry, due to their already established presence in the space. Blockchains can benefit game developers and players in the following ways:
- Reward the creators and early adopters of games
- Game development can be funded by the pre-sale of utility tokens to players.
- Players can have exclusive rights to certain features of their favorite digital media.
- Network Effects
- Game developers can have an alternative marketing approach to the monopolistic channels that currently capture a large percentage of developers’ revenue. Scarce, useful, liquid tokens in the hands of players will encourage players to market new games. Currently, it is difficult for developers to incentivize players to try new games. No one wants to play a game that no one else is playing. Rewarding players for putting their “skin in the game” can turn players into early adopters and therefore marketers of the ecosystem, similar to what we have seen in the ICO (Initial Coin Offering) market.
- Game players may resale utility tokens on an open and fair secondary market, potentially for a profit. Currently, players seldom receive benefits for being early adopters of a new game.
The Foundation will help game developers complete their own secondary IGOs (Initial Game Offerings) on the Magic Cube platform, during which the developer releases a secondary utility token with provable scarcity that provides exclusive access to in-game props and experiences. After the completion of a game’s IGO and the proven development of the token within the game (measured by the game’s status on the Magic Cube Token Curated Registry), the game’s utility token will be exchangeable on an open market with other tokens that also provide in-game and out-of-game utility.
2. MCC Token Introduction
MCC token is a NEP-5 token. MCC Token is a major component of the ecosystem on Magic Cube and is designed to be used solely as the primary token on the network. MCC Token is a non-refundable functional utility token which will be used as the unit of exchange between participants on Magic Cube. The primary goal of introducing MCC Token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Magic Cube. There will be a supply of 20 billion MCC tokens. The tokens will be distributed as follows:
- 15% will be allocated for the Development Team.
- 25% will be allocated for strategic private purchasers.
- 10% will be allocated to the Foundation.
- 50% will be allocated to the Ecological Incentive.
3. Useful Links
- Official Website: https://www.magiccube.io/
- Project Deck: https://img.cube.mofangvr.com/MagicCube_Deck_Final.pdf
- MC Exchange: http://exchange.mofangvr.com/app/