The event that became the Midwest Gaming Classic was first held on June 30, 2001 as Jagfest 2K1.

It was the 5th US show titled Jagfest dedicated to the ongoing fan base and homebrew scene of the Atari Jaguar.

In 2001 the show organizers decided to open it to all consoles in an effort to expand attendance and be more inclusive.

The show expanded to include a museum area, and started a tradition of having consoles and computers on display playable by show attendees, as well as gaming competitions held on multiple platforms.

It also has a display of gaming systems that never had success due to a superior competitor or change in technology.