In 2021, during a strong market period, many metaverse projects came into existence and attracted a large community to the industry. The hype around this trend was so strong that even Facebook changed its name to META. However, much of this enthusiasm faded during the bear market.
The Google Trends chart below illustrates the fluctuating interest in the term "metaverse" over the past five years.
Nevertheless, a few projects managed to endure and secure ample funding for ongoing development and product enhancement. This demonstrates that the metaverse industry isn't solely driven by hype; rather, it's committed to building substantial and long-lasting ventures.
In this article, we'll look into Treasure, a crypto project known for its token, MAGIC, which caught a lot of attention at the beginning of 2023.
What is Treasure?
At its core, Treasure represents a revolutionary force in the metaverse industry. Positioned as the decentralized game publisher on Arbitrum, it ignites a new era where MAGIC, its native token, takes center stage.
Within Treasure's domain, every project finds its unique identity by harnessing MAGIC. This native token becomes the building block for crafting captivating narratives and forging economic connections, turning each metaverse into a tapestry of stories and shared experiences.
In essence, Treasure serves as a platform that connects various metaverses, allowing different games and NFTs to interconnect and participate in a shared economy powered by the MAGIC token.
How does Treasure Work?
Treasure operates on a dynamic system centered around Bridgeworld, the central metaverse that plays a pivotal role in Treasure's ecosystem. Within Bridgeworld, a three-part resource economy flourishes, driven by:
- $MAGIC (Power): This represents the lifeblood of Bridgeworld. MAGIC is emitted and harvested within this metaverse, serving as the essential fuel for its operations.
- Treasures (Resources): Treasures form the backbone of the ecosystem. They're used by Legions, the characters within Bridgeworld, to mine for MAGIC and construct various infrastructure and equipment.
- Legions (Characters): Legions utilize treasures to extract MAGIC and create essential tools. They are the workforce behind the metaverse's development.
The equilibrium between treasures and MAGIC forms the foundation of Bridgeworld. MAGIC is a finite and increasingly scarce resource, essential for "powering on" treasures and transforming them into productive assets. In turn, treasures generate the instruments and materials required to continue mining MAGIC.
This intricate dance between treasures and MAGIC establishes a fundamental metaverse layer, upon which other metaverse economies can be interconnected and constructed.
Treasure is governed by its DAO, with a group of dedicated DAO members known as the "Treasure Council" assisting in executing Treasure's vision. Decisions are shaped by the DAO and voted upon by $MAGIC holders, ensuring that the community plays a pivotal role in Treasure's evolution and development.
$MAGIC is the life force of the Treasure metaverse. It transforms NFTs into productive assets, adding value to the Treasure ecosystem. Its scarcity, designed to increase over time, fuels an expanding web of interconnected narratives within the Metaverse.
Players can earn $MAGIC by engaging in gameplay, mining, and Bridgeworld activities. This design puts $MAGIC holders at the helm, underlining Treasure's commitment to decentralization and user involvement.
Below we show you the token distribution:
Furthermore, the $MAGIC token has a similar emission reduction model as Bitcoin's halving events. However, there's a notable difference: while Bitcoin undergoes halving every four years, $MAGIC experiences this reduction annually
Here’s the emissions projection made by Treasure’s team:
While not currently dominating the headlines, the metaverse industry is steadily crafting its future. In 2023, Treasure managed to capture the crypto community's interest, achieving an all-time high market cap in February.
If you're interested in gaining exposure to the metaverse via the MAGIC token, you can do so here on Kassandra! You can either invest in a community pool that has the token allocated or create your own on the Arbitrum blockchain!
Always remember to DYOR and good luck!
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