For an unknown amount, Magic Square, a web3 app store that is backed by Binance Labs and other investors, purchased TruePNL, a token launch platform.
Andrey Nayman, founder and CEO of Magic Square, stated:
“The acquisition was financed entirely with cash. As part of the deal, Magic Square has acquired TruePNL’s entire front and backend infrastructure, Nayman said, but “excluding the brand name, domain, social media accounts, and the TruePNL (PNL) token.”
According to Nayman, Magic Square had negotiations with TruePNL last month about first exploring a white-label solution for its planned launchpad and staking platforms, but those talks ultimately resulted in the transaction. He further said that the transaction “concluded this week, and there are no pending approvals.”
What is Magic Square?
Magic Square, a cryptocurrency app store founded in 2021, provides consumers with a single place to explore a variety of web3 applications. According to Nayman, the shop
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