treasure network
Crypto Networks

What is Treasure (MAGIC)? How Does Treasure Work

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Over the past few months, web 3 has appeared as a popular blockchain trend. The developers have introduced a number of projects that offer some unique features in this industry. However, these projects can’t interact with each other due to decentralization.

As a result, the users need to use several third-party applications to transfer their NFTs from one platform to another. Treasure is trying to overcome this problem by connecting multiple metaverse projects.

What is Treasure (MAGIC)?

Treasure is a game console designed to support the mass adoption of web 3 space by connecting games and communities together. It runs on a layer 2 Ethereum scaling solution known as Arbitrum. Its native token, MAGIC, connects the current and upcoming metaverses.

Smolverse and LIFE are the leading metaverse projects that are currently running on this network. The developers are also actively working on building new projects using this network.

Important Features of Treasure (MAGIC)

Treasure uses a range of features to optimize the efforts of builders and collaborators of different metaverse projects.

  • Bridgeworld – Bridgeworld is the center point of this blockchain that provides support for other metaverses. It enhances the platform’s gamified infrastructure while providing support for the economic layer.
  • MAGIC – It enhances the functionality of metaverse projects by connecting them together. It also supports the development of economic assets that can be helpful in the real life. Moreover, MAGIC token is also used for trading NFTs on Trove, Treasure Marketplace.
  • Legions – Legions are the important objects the game players can use to go on adventures. The users can upgrade the characteristics of the Legions with the Treasure NFTs they own.
  • Treasures – Treasures are the NFTs the game players can use to explore new adventures within the metaverse. God-granted favors, donkeys, and diamonds are some popular examples of the Treasures the players can purchase with MAGIC.
  • Infrastructure – This layer provides a set of tools and resources the builders may need to achieve success within the Treasure ecosystem. It also powers Cartridges and Community to smoothly run the operations of the network.
  • Trove – As it’s already mentioned, Trove is the NFT marketplace built on Arbitrum. The game players and collectors can trade gamified NFTs in this marketplace. They can MAGIC or ETH tokens to complete the transactions. It has the ability to host a huge number of NFTs as more metaverses come online.
  • MagicSwap – MAGIC isn’t the only token used to trade items in different games. Some games use other types of reserve currency. With MagicSwap, the users can convert their MAGIC tokens into other currencies to buy their desired items from the games that are running on the Treasure network.

Treasure Brief History

The treasure was introduced by John Patten in August 2021. John collaborated with a team of technology experts to launch this innovative project. It was initially introduced as a branch of Loot Project on Ethereum but was later moved to Arbitrum in October 2021. The project became quite popular after its migration to Arbitrum.

According to a recent update, around 95% of Arbitrum’s NFT transactions are being executed on Treasure. The stats show that more than 100,000 users are actively using brands and games on the Treasure network.

How Does Treasure Work?

Treasure works like PS5 or Switch where different games have their own stories and concepts but they’re all supported by a single platform. The Treasure ecosystem is comprised of three layers.

  • Cartridges – It’s a collection of games and metaverses created by builders.
  • Communities – This layer consists of small communities that trade NFTs and play different roles within the network.
  • Infrastructure – This layer introduces the tools and other resources that builders may need to create new Treasures.

With these layers, Treasure supports the development of new metaverse projects. The builders can also build NFTs for the players in these games.

Leading NFT Projects on Treasure

Treasure hosts a range of NFT projects. Some of these projects have become quite popular as they offer more unique features and operations compared to others.

Smol Brains

After Bridgeworld, Smolverse was the first project that started using Treasure. It’s an easy-to-understand and lucrative project for game players. The profile photos used in this project are recognized as Smol Brains. The project also offers other sets of NFTs marked as Smol Land and Smol Cars.

The players can improve their IQ points by staking their Smol Brains NFTs. It ultimately helps with boosting the value of these NFTs. The developers have recently introduced additional features like Smol Backpacks and Smol Pets to provide a better gaming experience to players.

Furthermore, the Smolverse team is also working on enhancing the users’ ability to make Smol Babies.

Seed of Life

This game is designed to take the game players to an emotional journey. The game begins with a baby seed that goes through different stages of life including childhood, teenage, adulthood, and senior. During these phases, the NFT can perform several activities like going to school, getting a job, falling in love, experiencing several emotions, and more.

MAGIC is essential for keeping these NFTs alive and helping them grow over time. The game rewards a commemorative NFT to the owner when the NFT dies.

Treasure Tokenomics

MAGIC is the native token of the Treasure network that is used to purchase NFTs and other objects within the Treasure ecosystem. With a circulating supply of 210 million tokens, MAGIC has a market cap of $433 million. It ranks among the 100 best cryptocurrencies in terms of market cap.

Conclusion

Treasure is an innovative blockchain network that connects different metaverses together. It provides a native marketplace to trade NFTs from different gaming projects. It also provides a set of tools and resources that builders can use to create new NFTs. Feel free to get in touch with us if you need more information about how Treasure network works.