Prologue

The concept of blockchain, introduced by Stuart Haber and W. Scott Stornetta in 1991, laid the foundation for the blockchain era. However, it was the establishment of the Bitcoin network in 2009 that truly marked the beginning of this transformative technology. Especially during 2017 and 2018, the general public gradually became acquainted with virtual currencies, propelling us from the web2.0 era to the web3.0 era.

Navigating the blockchain landscape has been challenging, with the rise and fall of numerous projects making it difficult to prove the value of blockchain technology and virtual currencies. Critics often highlight the market's immaturity, while recent events like the Terra collapse and FTX's bankruptcy have provided valuable lessons. However, the market is maturing due to institutional regulations, rigorous evaluation, and major companies' active involvement in NFT, X2E, and DeFi markets, preparing for the future.

The NFT market has seen remarkable growth, reaching $3,000,000,000 in 2022. It is projected to expand further, reaching $13,600,000,000 by 2027. Success stories like Bored Ape Yacht Club (BAYC), Cryptopunks, Metakongz, and Klaycity have gained legendary status with their rapid sellouts. However, projects lacking tangible and valuable token utility have experienced a recent decline in NFT prices. Providing utility is crucial for community engagement and long-term sustainability in the NFT market.

Magic Club firmly believes that the core of any project lies in the utility of tokens. Whether they are Fungible Tokens or Non-Fungible Tokens, they should offer tangible benefits directly linked to the real economy. This principle forms the fundamental proposition of the Magic Club team. As a result, our top priority at the Magic Club marketplace is to attract projects that have clear utility and revenue models, such as Play to Earn (P2E) and Move to Earn (M2E). Additionally, the M2E Magic Shoes project has been meticulously designed to establish an ecosystem centered around enhancing user utility.

This Magic Club whitepaper provides a detailed overview of the precise methodologies and essential factors required to effectively implement and realize our vision.