What is Treasure Decentralised Gaming Ecosystem?
Treasure is an NFT ecosystem that links communities and metaverse projects together for building a decentralized gaming platform. It runs on the Arbitrum blockchain and is secured by Ethereum’s Proof of Stake consensus mechanism. It provides games, players, and developers with an open ecosystem to participate and discover various segments of game development, from designing, economics, and marketing to storytelling.
MAGIC is the native token and reserve currency of the Treasure ecosystem that powers Treasures(Treasure Resources) and turns them into productive, yield-generating assets. The supply of MAGIC is designed to become more limited as the complexity of the Treasure’s economy increases. Players can earn MAGIC by mining, participating, and playing in Bridgeworld, Treasure’s flagship game.
| Launch Date | September 2021 |
| Founder | John Patten, Gaarp, and Karel Vuong |
| Blockchain Protocol | Arbitrum Blockchain |
| Native Token | MAGIC |
| Market Cap | $187.34 million |
| Token Type | Native and Governance |
| Circulating Supply | 214.62 million |
| Total Supply | 339.64 million |
| Consensus Method | Proof of Stake (PoS) |
Who are the Founders of Treasure?
The Treasure was founded together by John Patten, Gaarp, and Karel Vuong. Treasure is governed by Tresure’s decentralized autonomous organization, TreasureDAO. The DAO oversees building projects on the platform, fair launch, and decentralized decision-making.
Treasure is also a community-driven project with a globally distributed team of developers, product managers, artists, brand builders, marketers, economists, and gamers.
How does Treasure work?
The treasure ecosystem is formed together by the following components:
- Cartridges: Cartridges are individual games and metaverses in the Treasure ecosystem. Two core cartridges of the Treasure ecosystem are Bridgeworld and Smolverse. Bridgeworld uses a three-part economy: MAGIC token, Treasures Resources, and Legions.
Legions are players represented by Treasure NFTs. Resources used to mine MAGIC are called treasures. Legions use treasures to mine MAGIC and build infrastructure and equipment. This balanced ecosystem of Treasure creates a base layer for other metaverse economies to build and connect.
- Infrastructure: Treasure infrastructure comprises: the Trove marketplace, where users can purchase NFTs to play Treasure games. MagicSwap AMM decentralized exchange, which allows users to trade Treasure’s assets. TresureTags are non-transferable gamertags that serve as the global player identity of users in the Treasure gaming ecosystem.
- Communities and Treasure DAO: Treasure ecosystem is made of various small gaming communities linked together by lore, guilds, resources, and MAGIC token. Treasure DAO is made up of community members who have staked MAGIC tokens. The DAO votes on projects for building on the ecosystem, MAGIC distribution, and revenue-sharing agreement for the marketplace.
What makes MAGIC Unique-Use Cases?
- Treasure offers users a play-to-earn(P2E) gaming ecosystem where they can earn rewards and sell them for profits in the marketplace.
- Treasure is an open ecosystem that lets users move characters and assets across multiple games and metaverses.
- Currently, Treasure hosts 10+ games, which includes BattleFly, a battle game to earn rewards, and Beacon, a Fantasy Action Rogue-lite RPG and many more.
- Metaverses and games built on the platform are connected through the MAGIC tokens.
- It is open source allowing anyone to contribute to its marketplace, quests, and lore to receive rewards.
- Users can stake MAGIC and NFTs in the Bridgeworld Harvesters.
Read more: Popular web3 games and platforms
Treasure (MAGIC) Price Analysis
Source: TradingView
- MAGIC crypto is a token that has been on a downtrend since the middle of March 2023, forming a lower high, lower low price action pattern.
- Around the same time, it also broke down below the 50-day moving average which would serve as a further bearish indication for the altcoin
- Additionally the Relative strength Index for the coin hasn’t stepped into the oversold region yet, and hence we could see a further bearish selling pressure playing out on the token
- Thus a continuation of this correction phase could result in MAGIC price touching $0.45 price level in the near future
- This is also because the $1 to $1.05 level was breached fairly easily and thus we could see $0.45 levels being attained very soon.
- However, the YTD lows could act as a level of support going forward and if the sentiments improve for the overall crypto market, we could see a pullback rally in this too!
| MAGIC Price Today | $0.8729 |
| Price Change (Yearly) | 35.1% |
| Market Dominance | 0.02% |
| Market Rank (as per CMC) | 149 |
| Market Cap | $187.29 million |
| Fully Diluted Market Cap | $303.21 million |
| ATH | $6.3175 |
| ATL | $0.1837 |
Read more: Top Crypto Price Predictions
How to Buy MAGIC tokens in India?
To buy MAGIC crypto token in India, just follow the below-mentioned steps:
- Download the CoinDCX crypto app on your Smartphone
- Enter the details required for registration.
- Complete KYC
- After your profile is verified, fund your wallet and buy MAGIC token
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