Treasure is essentially a decentralized game console. Launched in 2021, it serves as a foundational layer for the upcoming wave of gaming experiences, with its operations driven by the native token, $MAGIC. This gaming network and blockchain operates on the ZK Stack developed by ZKsync, a Layer 2 scaling solution from Ethereum.
Treasure hosts a lineup of over 10 games, including prominent titles such as The Beacon, Wanderers, and Zeeverse, among others.
Introduced in September 2021, the token allows the community to trade in-game NFTs on the Treasure platform and functions as a reserve currency within its metaverse.
Who Started Treasure?
Treasure was brought to life by co-founders John Patten and Karel Vuong.
Both Treasure and $MAGIC are managed by a decentralized autonomous organization (DAO) that consists of over 30 key contributors from the community. This DAO team includes skilled developers, product managers, economists, creative marketers, artists, and many passionate gamers.
What Sets Magic (MAGIC) Apart?
MAGIC is the core token that fuels Treasure's "decentralized game console." Serving as a utility token, it links the metaverse of games and decentralized infrastructure. MAGIC currently functions as:
- The unit of account on the Treasure's native NFT marketplace and the base pair within its AMM
- The native staking token for the data availability layer throughout Treasure’s Infinity Chains blockchain network
- The governance token for the chain network, playing a role in voting on emissions policy and protocol enhancements
- A cross-game currency that unites games, players, metaverses, and communities within Web 3.0.
In the Treasure ecosystem, MAGIC is the official currency, acting as a cross-metaverse medium that binds various gaming communities. It was crafted to become progressively scarce as more players engage with the ecosystem.
Players can both earn and utilize MAGIC tokens across the games within Treasure. Additionally, MAGIC tokens can be staked in Magicswap, Sushi, and other games, enabling participation in platform governance and engagement in the ecosystem.
Treasure is a gaming initiative driven by its community, launched fairly, with small gaming communities forming the backbone of its ecosystem. Each of these smaller communities is “woven together through lore, guilds, resources, and MAGIC.” These distinct communities can exchange NFTs and collaborate through MAGIC tokens. Established communities, for example, can use MAGIC to assist in the growth of new or budding projects.
How Many Magic (MAGIC) Coins Are In Circulation?
$MAGIC is an ERC-20 token with a capped supply of 347,714,007 coins. It is a deflationary token, allowing holders to vote on governance topics within the Treasure ecosystem.
The initial distribution of MAGIC was as follows:
- Community: 33%
- Mining: 25%
- Liquidity: 17%
- Ecosystem Fund: 15%
- Contributors: 10%
As of November 2024, the circulating supply of MAGIC stands at 273,210,922 out of 347,714,007, which is about 79%.
How Is the Treasure Network Secured?
Treasure, along with MAGIC, is built on ZKsync's ZK Stack, a layer-2 scaling solution on Ethereum. Consequently, MAGIC benefits from the security of Ethereum’s Layer-1 proof-of-stake (PoS) consensus mechanism.
Where Can You Purchase Magic (MAGIC)?
As of November 2024, MAGIC is available on Binance, Coinbase Exchange, Uniswap (V2 and V3), SushiSwap, Gate.io, OKX, Huobi, Bybit, Bitget, MEXC, LBank, CoinEx, BitMart, BTCEX, and BitForex.
Do you want to monitor MAGIC prices in real-time? You can download the CMC mobile app.
Curious about the top NFT games? Check out CMC Alexandria for more information.
