Magic Cube: If you create a decentralized entertainment ecosystem, everyone is the protagonist
Some people say that the post-90s is the first generation in China that has grown up in a peaceful era in the past 100 years and has no sense of hunger. It is also said that after 90, the generation that is least needed to be recognized by parents, the freedom given by the times and parents can make They become the one they want to be.
For Ruo Ruotian, born in 1994, blockchain entrepreneurship is making him the person he wants to be .
If Ruotian is born in the "game family" , his parents are the major shareholders of Shanda Games , the most important chess and game platform of Shanda. Although Ruo Ruotian is the "rich second generation" in the eyes of friends, he does not want to live under the aura of his parents.
Rebellious, he chose to use entrepreneurship as a way of expressing himself.
The picture shows Rudy Rong
From the “unborn” elite club, to 噜噜VR, to the current Magic Cube exchange. Along the way, in just seven years, he became a mature blockchain entrepreneurial youth from a savvy New South University freshman.
In his interview with Ruo Ruotian, he did not mention too much of the previous two entrepreneurial experiences, but rather the pain points of the game industry, talking about the changes brought by the blockchain technology to the game industry, Magic Cube's vision, business model and Its planning .
He always stressed that " in the MC world, everyone is the protagonist ", MC here is not only the abbreviation of "Magic Cube", but also represents an MC (such as rapper, sandbox game "My World") Culture, a spirit and values related to entertainment.
The pain point of the game industry
Ruo Ruotian’s first venture was in 2012 , when he was a freshman at the University of Southern California (USC). In order to change the image of Chinese in the mainstream American society, he founded the “ Prime Union” to provide luxury car rental and organization gatherings for Americans and Chinese.
However, after more than two years of development, the club's business direction gradually deviated from its original intention, coupled with changes in local policies, Ruo Ruotian finally chose to leave.
The failure of the first venture did not ruin his enthusiasm for continuing his business. In 2015 , Ruo Ruo experienced the Cardboard VR head display (virtual reality head-mounted display device) launched by Google. Because of his "game family", his first reaction was to combine VR with games, but due to technical limitations, the game experience of VR games is poor, and players will feel dizzy. Later, VR live broadcast into his sight.
The fascinating virtual world and the exciting and exciting audiovisual experience of VR live broadcasts make you realize that this will be the next venture. In November 2015, he took out $100,000 from his parents' account and returned to China to start Magic Cube .
The picture shows Magic Cube founder and CEO Ruo Ruotian, and four American partners.
At the beginning of 2016, Magic Cube's first product, VR, was officially launched, featuring a new gaming experience of VR, live broadcast and board games. 2016 is considered to be the first year of live broadcast, and major Internet giants have laid out VR.
Once launched, 噜噜VR has been favored by users and capital. This also allowed Ruo Ruotian to be selected as an elite person under the age of 30 in the US Forbes list (entertainment and sports) at the age of 23, and Zhang Jike, Lu Han, TFboys, Hua Chenyu and others were selected in the same period.
Later, with the disappearance of the demographic dividend and the cooling of the VR concept, Ruo Ruotian transformed the company's business into the distribution and channel of legendary chess games. Just as the company is preparing to enter the stage of listing and mergers and acquisitions, the adjustment of the 19th National Policy has made the original plan soaked in soup, and if it is necessary, it will find another way out.
At that time, he found that the user retention problem is a core pain point of the game industry . He said:
"We can deeply feel that the cost of winning the game is increasing, and the real conversion rate is getting lower and lower. Some games have a million users, but they cannot connect to the secondary market, lacking launch, capital acquisition, and channel sharing. In addition, the user keeps the problem. If the early users of a game and the mature users return the same, it will inevitably lead to the loss of early users."
If the sky has a keen business sense, when the wind is coming, he can always feel and act quickly. In June 2017, at the 2017 Forbes dinner, he learned about the concept of blockchain from Sun Yuchen . “Although I didn’t understand it at the time, after discussing with the partners, I decided to build a decentralized entertainment based on blockchain. Ecology."
Magic Cube Exchange
“The intelligent contract of the blockchain can solve the pain points of the incentive aspect of the game industry, and achieve transparency, while giving the core props of the game products to encourage, so as to improve the retention of early users.”
After several meetings and discussions, Ruo Ruotian and several partners in the United States finally chose the direction of the game token exchange – Magic Cube Exchange. In fact, the reason for choosing this direction is to exclude the results of multiple options. He says:
“The first thing to consider is the item trading , but the coverage of the item trading itself is too small, it is difficult to form a consensus, and it is impossible to motivate the early users; then the NFT (Non-fungible Token), but the domestic users don’t care. Personalized things, more emphasis on ranking, so NFT is not suitable; there are chain tours , currently less than 1 million domestic currency users, the transaction cost of an exchange is more than 2,000 yuan, to convert users in the secondary market to On the chain tour, the total number of users is small and the conversion rate is low."
“The game is mining, holding the currency and paying dividends.” The Magic Cube Exchange is a blockchain-based entertainment ecosystem (MC Ecology) . At present, the game is used as a portal to release game sponsors based on Ethereum ERC-20, namely GTO (Game Token Offering).
The MC Ecology mainly consists of two parts: transaction and payment . Users can freely exchange game cards or legal coins in the MC Eco game by holding MCC (the certificate issued by Magic Cube Exchange). Game developers can also issue their own certificates through the Magic Cube exchange.
The picture shows the GTO mode
Introduced by Ruo Tiantian, the Magic Cube exchange is embedded in the game as a plug-in . In other words, the game that accesses the MC ecosystem will have a button related to “MCC” in its game interface. The user can click on the button to enter the Magic Cube exchange, and between the pass and the pass, the pass and the legal currency. exchange.
With the rich content of the game and the increase in the number of users, the consumption of the certificate in the MC ecosystem is also increasing, and the demand for the certificate is also rising, and the price of the certificate will increase.
In August 2018, Magic Cube announced the completion of A round of $10 million financing, led by NEO ant GlobalCapital, BitMart Exchange, Silicon Valley Plug and Play, Gemstone Capital, Bizantine Capital, Suzhou Yuanhe, Hangzhou Bojiang Capital, 4931 props Trading platform, as well as a number of senior game producers from Tencent and Netease jointly voted.
On May 28, 2019, Magic Cube announced that it has recently completed a new round of $5 million financing, which was jointly funded by IDG, JRR, Babbitt Investment, Origin Capital, Vector Capital, and Bitblock.
At present, Magic Cube has a total registered number of users of 15 million, has cooperated to issue 23 games, daily activity of 28,000, average daily transaction volume of more than 110,000 yuan, and 5 games in the GTO system; game operation partners include Shanda Games , Perfect World, Blueport Games and many other game makers.
Magic Cube has partnered with the nation's largest third-party community of DNF (Dungeon and Warriors) to make each guild a token node by chaining the community.
Ruo Rutian said frankly that the blockchain industry is in the early stage and it is still too early to talk about "competition". “The core of Blockchain 1.0 is cryptocurrency, which transfers and stores assets through encryption and decentralization,” he said.
"At present, the blockchain has not really reached the 2.0 stage, because there is no killer application based on smart contracts. After discussing with many investment institutions, we all believe that the core of blockchain 2.0 is belief , what do you believe? ""
For Ruo Ruotian, the spirit of MC is the belief of Blockchain 2.0 . Specifically,
"In addition to representing the brand, the meaning of MC also represents the value and culture of this kind of MC entertainment. In the world of MC, everyone is the protagonist, everyone has the possibility to break the impossible. Like MC shouts Mai," My World, running male MC."
The picture shows the Magic Cube team
Backed by the grand network and winger games, Ruo Tiantian often has access to high-level figures in the game industry. In a meal, Chen Tianqiao’s words made him still fresh in his memory. Chen Tianqiao said that the changes in each era are waves caused by a stone smashing in the middle of the water .
"To be successful, we must focus on the next wave, like the Internet and the mobile Internet." Although he is only 25 years old, his ability to grasp the wind is far beyond the average person. Asking about the harvest of entrepreneurship , he said:
"There are two gains, one is the understanding of the external environment, the understanding of the big environment such as capital and financial markets; the second is the understanding of people, the judgment of people's personality, ability, strengths and weaknesses and psychological pain points. It’s absolutely impossible to make up for the talent. These two are not available in the school, only their own experience."
Entrepreneurship has never been a matter of one person. Along the way, in addition to the improvement of their own abilities and the richness of business experience, Ruo Ruotian saw the power of the team .
I remember that in the winter of 2018, when the business was pushing the most difficult time, he asked the partner "Do you still believe in this project?", the partner said " I always believe in you " and let him regain his confidence. Growing up with the team is also the happiest thing on his entrepreneurial journey.