Proof of Usefulness Report

Magic Square

Analysis completed on 1/25/2026

+329

Proof of Usefulness Score

Certified Problem Solver

Magic Square is a legitimate, verified Web3 app store backed by top-tier investors including Binance Labs and Republic (raising ~$4M verified). However, the project submission contains significant inaccuracies (claiming 'most people' have used it) and confuses Market Cap with Fully Diluted Valuation (FDV). While the technical infrastructure and backing are strong (Team ~40, Magic Store live), the native token (SQR) has suffered severe depreciation (~99% down from ATH), indicating a disconnect between retail traction and VC valuation. The score reflects high institutional credibility dampened by poor response quality and weak current market performance.

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Score Breakdown

Real World Utility+22.50

Audience Reach Impact+7.20

Technical Innovation+9.75

Evidence Of Traction+16.25

Market Timing Relevance+5.00

Functional Completeness+0.25

Subtotal60.95 (Raw) -> Scaled to 365.7 (Calibration x6)

Usefulness Multiplierx0.90

Final Score+329

Project Details

Project URL

magicsquare.io

Description

The Magic Store is a Web3 solution where the community vets, ranks, and prioritizes the apps via a DAO mechanism, with clear earning metrics to incentivize the participation of validators, creators, and users. \n\nUsers can access all of the community vetted content with one click using the MagicID (Decentralized ID). This multi-chain wallet solution aims to become the Web3 alternative to Google or Apple connect.

Algorithm Insights

Market Position

Strong market validation with clear user adoption patterns

User Engagement

Documented reach suggests active user community

Technical Stack

Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline