Farcaster

Let’s end this debate 🧵

I’ve seen enough confusion around Magic Labs vs. Magic Newton.

Magic Labs raised $83M — not Magic Newton.

Now there’s speculation about two tokens:

$NEWT for @MagicNewton

$MAGIC for @magic_labs


But here’s how fundraising typically works in crypto 👇

1/ Mysten Labs is behind SUI.
Fundraising? Done by Mysten Labs.
Token? $SUI

2/ Offchain Labs is behind Arbitrum.
Fundraising? Offchain Labs
Token? $ARB

3/ Dapper Labs is behind Flow.
Fundraising? Dapper Labs
Token? $FLOW

This is common:
One entity raises funds to build a project with its own token.
That doesn't mean there are always two separate tokens one for the entity, one for the product.

In this case:
Magic Labs is likely backing the development of Magic Newton.
The $83M raise was by Magic Labs, but that doesn't automatically mean there will be both $MAGIC and $NEWT tokens.

What’s more:
@_seanli — Co-founder of Magic Labs — is directly involved in building Magic Newton.

So it’s very possible that $NEWT will be the only token.

Final thought:
Magic Newton may be a new product, but it’s being built by the same people — not a completely unrelated team.

But of course, @_seanli knows best.

Grow your own destination,  nomatter what  never give up..