MAGIC, the native token of Treasure, was listed on Binance on December 15, 2022, which caused a violent increase in the price of the token. But what is the crypto project behind this token? Does MAGIC have a future in this market? Read this article to learn about Treasure’s project.
Crypto treasure, what is it?
The treasure is a project decentralizedan ecosystem NFTs on Arbitration which is built specifically for projects metaverse And video games and who connects them. MAGIC is the governance and utility token of the ecosystem:
There are many projects listed on the Treasury. They each use MAGIC for their own metaverse and NFT projects. The treasury built a NFT market native to allow users to trade NFT assets on a single platform. To pay for these NFTs, we only use MAGIC.
In this way, MAGIC acts like reserve currency for the entire network of metaverses connected by Treasure.
Treasure DAO uses MAGIC broadcasts to develop New projects and keep doing it support the most important.
Treasure crypto provides a solution to the problem of P2E sustainability (Play to earn).
In most cases, the come back P2E projects are gradually disappearing and once it runs outusers switch to new projects and new tokens.
Treasure solves this problem by creating a file ecosystem Of video game and NFT maintained by the MAGIC token. MAGIC is powered by the network of metaverses, communities and DeFi infrastructure built on Treasure.
Treasure’s ecosystem includes a governing body (TreasureDAO), several video game metaverses and NFT projects ea market.
TreasureDAO and the market (Trove) are the basic elements to connect the different parts. Bridgeworld (a strategy game launched in January 2022) occupies a Central place in the metaverse treasure. That’s where the MAGIC is released and collected :
In addition to Bridgeworld, Treasure also launched a game called Smolverse, where NFT characters from the Smol Brains collection can be played.
The treasury has integrated 8 community-developed games in the ecosystemincluding BattleFly, Toadstoolz, Tales of Elleria, The Lost of Donkey, LifeVerse and more.
Overall, these games have attracted the attention of participants. Each game has accumulated an average of public not inconsiderable, and all these games work with MAGIC.
Treasure originally launched in August 2021 onwards Ethereum. The project started out as a spin-off of the Loot Project.
In September 2021, Treasure released it MAGIC will be its native cryptocurrency. Players can deposit loot cards, AGLD cryptocurrencies, and other means to earn MAGIC.
The treasure has migrated to Arbitrum in October 2021 and launched its native NFT marketplace and TreasureDAO.
In the January 2022Treasure released bridge worlda strategy game found on center of the treasure metaverse. It’s inside June 2022Treasure has launched a new NFT marketTrove, which replaced the Treasury Market original.
Trove supports treasure ecosystem items (priced at MAGIC) and general NFT collections (priced at ETH).
Crypto Treasure: Tokenomics and MAGIC Performance
MAGIC is the natural resource of the Treasure metaverse. The token fuels NFTs and transforms them into productive assets and yield generators.
The MAGIC cryptocurrency is designed with the goal of becoming increasingly scarce: the issuance of MAGIC decreases as the complexity of the economy increases.
It’s possible win MAGIC in playing games, since they are P2E, in extraction and participating in bridge world. The treasury is ultimately governed by the holders of MAGIC.
The ecosystem operates under the Proof of work model. For example, to unlock items and consumables in Bridgeworld, stack a combination of items and MAGIC to unlock a tool (required for progression):
MAGIC is starting to be recognized thanks to the performance that the token showed at the time of listing on Binance. Indeed, in the listing period from December 12 to 13, 2022, MAGIC exploded from 300% on Binanceand about 100% on other exchanges.
According to data from TokenInsight, MAGIC is now listed on more than 20 exchanges under more than 67 trading pairs.
The capitalization the current MAGIC is $175,735,204 and the volume 24-hour trading is $21,515,000according to data from Coinmarketcap.
You should know that Treasure’s NFT market has unfortunately hacked on March 3, 2022and beyond 100 user NFTs were stolen (worth approx $1.4 million).
Project founder John Patten tweeted to cover the cost of the exploit. Fortunately, nearly all compromised NFTs have been came back after a few hours.
It is for this reason that the project still has a lot of room for improvement terms of security.
However, the bear market we are in could be the perfect time to do so accumulate MAGIC.
After long periods of decline, the Crypto Magic is starting to show itself positive signs. Magic’s price also has a strong potential to explode in the long run if we are to believe its potential.
In December 2022, thanks to the listing on Binance, MAGIC crypto gained over 300%. According to estimates, the upward trend it is possible in the long run.
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