Metaverse is the hottest topic in the crypto space. After Decentraland (MANA), there’re a number of projects developing on different blockchains focusing purely on building the next big NFT Metaverse. Since the expected demand for NFTs in gaming and metaverse is on the rise, there’s a need for a bridge that can connect these projects under one roof and Treasure sounds like the right fit for the role. Does it have enough potential to onboard the top and upcoming NFT projects on its platform? Is MAGIC token the bridging currency we need? Keep on reading the Treasure crypto review as we answer all your concerning questions –
Table of Contents
What is Treasure Crypto?
Treasure is the decentralized NFT platform that is built specifically for NFT Metaverse projects. Built on Arbitrum (layer 2 blockchain), it aims to connect a range of NFT, Gaming and Metaverse projects under one roof.
Treasure will be the breeding ground for various metaverse projects, exclusively supporting them with its native currency $MAGIC. In layman’s terms, Treasure will help grow the NFT metaverse projects by selecting & onboarding them on its platform which will be further powered by a single currency i.e MAGIC.
Treasure aims to be the Nintendo of NFT Gaming & Metaverse projects
A look into Treasure Projects:
Bridgeworld is the gaming metaverse of Treasure. It is the place where MAGIC is minted & harvested. It comprises of the following elements –
- MAGIC – The currency that fuels the whole ecosystem
- Treasures – NFTs which are used as resources
- Legions – NFTs which are the players
Legions use the resources i.e Treasures to mine MAGIC and build infrastructure & tools on the metaverse.
MAGIC tokens can be staked in the Atlas mine in Bridgeworld
Smol Brains is one of the most famous projects by Treasure. It’s a collection of PFP (Profile Pics) NFTs from Smolverse. Each smol brain has an IQ level and the size of their heads is proportional to their IQ level which means the head size is dynamic and grows with the increase in the IQ level.
Smol Backpacks & Smol Pets are airdropped to the Smol Brains owners
A community project by TreasureDAO awaiting release.
What is Magic Token?
Magic is the native token of Treasure. It will be the cross-game currency for all the projects onboarded on its platform. The token has the following core utilities –
MAGIC is the only currency used to pay for transactions on its NFT marketplace. Token holders can participate in community voting to decide on key proposals like selecting the projects to be listed on its platform, staking rewards and more under the community-owned TreasureDAO.
Nearly 33% of the token supply was distributed in the initial 30 day farming cycle. The detailed token distribution can be seen in the chart shared below –
MAGIC follows token halving. Every year the token supply will be halved as per the emission schedule.
The total supply of MAGIC tokens is capped at 350 million
Treasure NFT Marketplace:
Treasure has its own decentralized marketplace built on Arbitrum network. The marketplace is the home to existing and emerging NFT gaming and metaverse projects. It will feature its own and partnership projects on the platform.
Promising projects can raise funds using its marketplace by selling NFTs or special in-game items before the actual launch. It is important to remember that MAGIC is the only currency used to buy the items listed on the marketplace.
Talking about the transaction fee, a minimum of 2.5% is redistributed to the Treasure DAO and the rest goes to the creator. The royalty fee charged for each item sold (Treasures & Legions) is 5%.
Treasure NFT Marketplace is becoming a serious competitor to OpenSea & LooksRare (LOOKS)
TreasureDAO oversees the whole ecosystem of Treasure. It is governed by the users who hold and stake MAGIC tokens on the network. A community-driven entity, DAO decentralises the ecosystem and allows the members to vote for projects to onboard and bootstrap them on the platform. Checkout TreasureDAO tweet on MAGIC halving –
The first MAGIC halvening event has taken place as of September 1 at 12:00am GMT. ⚡️— TreasureDAO (@Treasure_DAO) September 1, 2022
As a result, you will notice a decrease in emissions across @playbridgeworld's Atlas Mine, Harvesters and TIP-08 cartridges @LifeDAO_ and @Smolverse.
Weekly emissions have fallen ~778k to 417k. pic.twitter.com/Tw1jA2W8F8
Moreover, token holders can also vote on key proposals deciding MAGIC token distribution, staking rewards and transaction fees on the marketplace. Apart from the existing NFT marketplace, DAO will launch a new generalized marketplace supporting ETH transactions which will help build an additional income source for the platform. TreasureDAO has inked a partnership with 1kx to diversify its treasury & scale the project.
TreasureDAO is integrating Chainlink Oracle to manage marketplace pricing.
Treasure doesn’t face serious competition in the crypto space. It’s a unique project focused on creating Metaverse friendly ecosystem and a hub for emerging metaverse projects, bootstrapping and supporting them with MAGIC tokens.
Everything on Treasure is driven by $MAGIC. It’s the only currency used by the network and by the projects listed on its platform. A single token economy will help users navigate across Metaverses with ease, reducing the hassle of switching the network or swapping the tokens.
The project has secured a strategic investment of $3 million from 1kx to rapidly scale its operations. The investment comes at the right time encouraging retail investors to invest in its NFT marketplace.
Blockchains play an important role in the growth of a project’s ecosystem. Networks like Solana and Ethereum with high transactional volume drive more users to their ecosystem which is a good source of generating organic traffic and exposure for emerging projects.
Arbitrum on the other hand is an L2 network which is not very famous in the blockchain industry. There’re less than 1% ETH wallets on the network which accounts for negligible transaction when compared to Ethereum. Ofcourse, the gas fee is much lower on the chain but low network activity may not impress the users who’re actively using L1 chains.
Projects in Question:
Treasure is onboarding a lot of NFT metaverse projects. However, investing in NFT may not guarantee high returns since most of the projects won’t have active gameplay at the time of listing. It’s more of a gamble buying the NFTs, hoping the project will shine in the near future.
Magic Token Price:
Please check the latest price of Magic token, shared below –
Magic Token Price Prediction:
Launched in 2021, the token hit an all-time high of $6 within 6 months. The market crash brought down the bullish momentum and deteriorated the price action. At the time of writing, MAGIC is trading in the range between $2 -$3.
The token has shown good resilience and is volatile in nature. Overall the price action look positive. If the upcoming projects on the platform became successful or its native NFTs and Metaverse registered higher adoption rate, expect the price to hit $10 mark in the upcoming bull run else it may stagnate in the current price range.
Where to buy Magic Token?
Magic token can be purchased from Sushisway crypto DEX or from centralized exchanges like Poloniex and OKEX. Remember to switch to Arbitrum network before purchasing tokens from Sushi DEX.
Is Magic Token a Good Investment?
Treasure is filling the much-needed gap in the NFT Metaverse segment. With MAGIC, it aims to unite all the emerging and new NFT Metaverses by offering them the needed exposure and bootstrapping them to drive higher visibility and adoption.
TreasureDAO on the other hand make the whole ecosystem a decentralized entity, allowing the NFT marketplace to be community driven without any influence from a single player or a centralised authority like OpenSea.
Treasure is well-funded and has a strong use-case but the same cannot be said about the projects listed on its marketplace. It’s very difficult to predict the future of the listed projects on its marketplace. Some will succeed and some won’t, we don’t know. A lot is dependent on the success of these projects and its in-house projects like Smol Brains.
If you’re someone who’s familiar with layer-1 and layer-2 chains and have a knack for NFT projects, this is the project to keep your eyes on and if you’re new to the crypto world and looking at this project because you found a MAGIC token. My suggestion would be to start with understanding and investing in layer-1 chains before investing in MAGIC.
This completes my review of Treasure crypto (MAGIC token). In the next post, I will talk about Nest Arcade & Celer Network (CELR). If you’re a blockchain technology fan, share this post on your social handles and educate everyone around you. Do remember to subscribe to my YouTube channel for more informative content, released every week.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their investment decisions and should only invest in cryptocurrency after proper research.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.