The fact that Magic Shoes cannot distinguish themselves from other fitness and crypto initiatives is indicative enough that they will not succeed in the market.

The screenshot below is taken from their partnership announcement on June 22, 2023 (view it here). As most people are aware, I support the Golden Circle approach by Simon Sinek. If you fail to provide customers (users) with an intrinsic reason to choose your product or service, you will merely join the existing options that have already proven themselves.

Having said that, upon reading the Medium article further, I am not impressed with the remaining content. I can only give it a one-star rating.

MagicShoes is a WEB3 lifestyle app that rewards users for moving. Users with MagicShoes NFTs can benefit from walking, running, and cycling outdoors.

MagicShoes

The fact that Magic Shoes cannot distinguish themselves from other fitness and crypto initiatives is indicative enough that they will not succeed in the market. 

The screenshot below is taken from their partnership announcement on June 22, 2023 (view it [here](https://medium.com/@Magic_Shoes/%EF%B8%8Fpartnership-announcement-%EF%B8%8F-magic-shoes-x-cooperate-%EF%B8%8F-crypto-4f78ac4a8842)). As most people are aware, I support the Golden Circle approach by Simon Sinek. If you fail to provide customers (users) with an intrinsic reason to choose your product or service, you will merely join the existing options that have already proven themselves.

Having said that, upon reading the Medium article further, I am not impressed with the remaining content. I can only give it a one-star rating.

Jeroen

Based on historical data this idea didn’t work once before beyond one hype month during a bull run and I cannot see any significant differentiators with MagicShoes that tell me it is going to be any different this time.

Beyond an extremely corny name and pretty much a carbon copy of an idea that did not work well before, the team are not doxed which raises concerns about transparency, and the presence of a dual token economy adds complexity without clear benefits. All this is all screaming to me stay away and save your money from being wasted.

I thought they may save themselves from a 1* as I saw ‘Rental System’ on their whitepaper and I am extremely familiar with this new NFT technology and very enthusiastic about it so I was very interested to see how they implemented it. However the whitepaper currently states ‘To be updated’ in bold red letters which nullified any tiny bit of enthusiasm I had.

Lets just give this project an overall 1* and move onto the next one shall we.

Based on historical data this idea didn’t work once before beyond one hype month during a bull run and I cannot see any significant differentiators with MagicShoes that tell me it is going to be any different this time. 

Beyond an extremely corny name and pretty much a carbon copy of an idea that did not work well before, the team are not doxed which raises concerns about transparency, and the presence of a dual token economy adds complexity without clear benefits. All this is all screaming to me stay away and save your money from being wasted.

I thought they may save themselves from a 1* as I saw ‘Rental System’ on their whitepaper and I am extremely familiar with this new NFT technology and very enthusiastic about it so I was very interested to see how they implemented it. However the whitepaper currently states ‘To be updated’ in bold red letters which nullified any tiny bit of enthusiasm I had.

Lets just give this project an overall 1* and move onto the next one shall we.

Jeppopo

MagicShoes is a move-to-earn lifestyle app that looks like a duplicate of STEPN, with pretty much the same metrics - 'wearable' shoes that are used for mining tokens, and different rarities providing different 'powers' for mining. I do not see any differences between MagicShoes and STEPN at all, and it seems like the project is targetted towards those that 'missed out' on the STEPN hype and pump, and are trying to bring in the next market of retail investors as exit liquidity, only planning to benefit the founders of the project from their free tokens.

While I like the fact that they operate on a dual token system for utility and governance respectively, I do not see how the tokens are split. The whitepaper states that MCT (governance token) can be used to make payments within the NFT marketplace - wouldn't that fall into a utility token function instead of governance?

Overall, I would stay away from the project and stick to better known M2E fields such as STEPN, as there are basically no differences between the two. You could even look into SWEAT Economy if you're looking into M2E platforms without having to fork initial cash for purchasing NFTs.

MagicShoes is a move-to-earn lifestyle app that looks like a duplicate of STEPN, with pretty much the same metrics - 'wearable' shoes that are used for mining tokens, and different rarities providing different 'powers' for mining. I do not see any differences between MagicShoes and STEPN at all, and it seems like the project is targetted towards those that 'missed out' on the STEPN hype and pump, and are trying to bring in the next market of retail investors as exit liquidity, only planning to benefit the founders of the project from their free tokens. 

While I like the fact that they operate on a dual token system for utility and governance respectively, I do not see how the tokens are split. The whitepaper states that MCT (governance token) can be used to make payments within the NFT marketplace - wouldn't that fall into a utility token function instead of governance?

Overall, I would stay away from the project and stick to better known M2E fields such as STEPN, as there are basically no differences between the two. You could even look into SWEAT Economy if you're looking into M2E platforms without having to fork initial cash for purchasing NFTs.

Adrian

You don't need to look too far to see how much the MagicShoes project is ripping off STEPN. Just note the similarities in these paragraphs from their respective whitepapers:

"Magis Shoes is built on this social and technological background with the aim of reducing global environmental pollution by encouraging people to incorporate essential activities such as walking, running, or cycling into their daily lives. It brings the concept of earning money while freely participating and moving. Moreover, Magic Shoes is a unique NFT project on the Polygon network, allowing people from around the world to come together as one."

"With Game-Fi, STEPN aims to nudge millions toward a healthier lifestyle, combat climate change and connect the public to Web 3.0, all while simultaneously hinging on it’s Social-Fi aspect to build a long-lasting platform fostering user generated Web 3.0 content."

With STEPN already well established and MagicShoes adding nothing unique to the Move to Earn space, I have no choice but to give this project one star and steer clear of it.

You don't need to look too far to see how much the MagicShoes project is ripping off STEPN. Just note the similarities in these paragraphs from their respective whitepapers:  

"Magis Shoes is built on this social and technological background with the aim of reducing global environmental pollution by encouraging people to incorporate essential activities such as walking, running, or cycling into their daily lives. It brings the concept of earning money while freely participating and moving. Moreover, Magic Shoes is a unique NFT project on the Polygon network, allowing people from around the world to come together as one."

"With Game-Fi, STEPN aims to nudge millions toward a healthier lifestyle, combat climate change and connect the public to Web 3.0, all while simultaneously hinging on it’s Social-Fi aspect to build a long-lasting platform fostering user generated Web 3.0 content."

With STEPN already well established and MagicShoes adding nothing unique to the Move to Earn space, I have no choice but to give this project one star and steer clear of it.

Blueseriph

I'm fairly confident the crypto world doesn't need another Move To Earn (M2E) Ponzi scheme.

Yet, enter MagicShoes, an M2E fitness rewards platform where you can play while walking, running, or cycling.

I'm posting this because it will launch its IDO in a few days, and I wanted to show how some of these launch pads operate.

Launch pads play with "launch tokenomics" as they want you to focus on the Initial Market Cap (IMC), which is only $6M for this project.

While that might seem low, consider Stepn (a mature and well-known M2E project) has a Fully Diluted Valuation (FDV) of $10.8M, so I have no idea how this project decided to launch with this valuation.

Also, considering the 1B token supply, this project has a whopping $60M FDV based just on the public round price!

This project will generate even more revenue by selling NFT boxes (the shoes) needed to earn.

I cannot honestly think of anything nice to say about this project except it passed two smart contract audits and that the App is already released in Google and Apple Stores.

This incubated project is a pure cash grab for the incubators and the project at the expense of the public & retail investors. Stay Away!

I'm fairly confident the crypto world doesn't need another Move To Earn (M2E) Ponzi scheme. 

Yet, enter MagicShoes, an M2E fitness rewards platform where you can play while walking, running, or cycling. 

I'm posting this because it will launch its IDO in a few days, and I wanted to show how some of these launch pads operate.

Launch pads play with "launch tokenomics" as they want you to focus on the Initial Market Cap (IMC), which is only $6M for this project. 

While that might seem low, consider Stepn (a mature and well-known M2E project) has a Fully Diluted Valuation (FDV) of $10.8M, so I have no idea how this project decided to launch with this valuation. 

Also, considering the 1B token supply, this project has a whopping $60M FDV based just on the public round price!

This project will generate even more revenue by selling NFT boxes (the shoes) needed to earn.

I cannot honestly think of anything nice to say about this project except it passed two smart contract audits and that the App is already released in Google and Apple Stores.

This incubated project is a pure cash grab for the incubators and the project at the expense of the public & retail investors. Stay Away!

MagicShoes MCT