Recently, Sambino, a member of the Treasure DAO team, revealed a noteworthy news in the Discord community: Treasure Chain Lite*** will be announced next week. Previously, Karel Vuong, co-founder of TreasureDAO, indicated that they are building a game chain with Magic as the gas token, a strategic choice that could be based on the Arbitrum or Cosmos networks.
TreasureDAO is an NFT ecosystem built for games, metaverse, and other types of NFTs, originating from the experimental NFT project Loot and its derivative Yeild Farming in 2021, where users can stake Loot and the token AGLD to obtain Treasure's native token Magic. The protocol migrated from Ethereum to the layer 2 network in October 2021 and officially launched the Treasure Dao in November 2021, which is built around empowering Magic and kicks off its narrative as a blockchain gaming platform, once known as the crypto world "Nintendo".
At this special point in time, we will introduce users to the Tresasure DAO project.
The TreasureDAO platform is characterized by the integration of NFT, DeFi and GameFi, providing a stage for NFT and metaverse projects to build and integrate their own ecosystems. Treasure develops its platform from a dual perspective: on the one hand, as a decentralized game publishing platform that provides developers with the opportunity to create and tokenize Web30 tools and resources for the game; On the other hand, it also plays the role of the basic economic control layer of other games, allowing project parties to outsource token management to TreasureDAO.
Treasure's team members are mainly from the community, including developers, product managers, artists, and other talents from all over the world. This diverse team is supported by an active network of DAO contributors and community members who work together to drive Treasure's growth and innovation.
In order to encourage community participation and cooperation, TreasureDAO has designed a framework that inspires community members to jointly develop and improve key parts of the ecosystem through the reward mechanism of the Magic token. This approach not only promotes the widespread construction of the ecosystem, but also encourages more community members to innovate on the Treasure platform.
According to official information, Treasure's leadership team includes co-founders John Patten and Karel Vuong, with John Patten also serving as CEO and former head of growth at Osmosis. In September 2022, Treasure DAO launched a $3.5 million proposal for a Magic eco-token**, which attracted the participation of a number of heavyweight investors, including Digital Strategies Guild and 1KX, demonstrating its influence and potential in the crypto gaming space.
The ecological construction and team composition of Treasure DAO demonstrate its ambition as an innovator and leader in the crypto gaming space. In the following sections, we'll dive into how Treasure DAO has made significant achievements in the crypto gaming world through its unique platform and strategy.
When diving deeper into the **Treasure DAO and its ecosystem, the analysis of the MAGIC token is crucial. The total number of magic reached 347,714,007, of which 222,275,433 were in circulation, accounting for 63 of the total amount92%。This data point shows the wide circulation and application of MAGIC in the Treasure ecosystem.
The distribution plan of Magic tokens is as follows: 33% for Treasure Farm, 25% for mining, 17% for staking, 15% for ecological construction**, and 10% for teams (which will be gradually released over 12 years). This allocation strategy reflects the consideration of different ecological actors and aims to promote long-term stable development.
Magic's release mechanism adopts a strategy of high liquidity in the early stage and halving in the subsequent years, which is designed to stimulate active use in the initial phase while maintaining long-term value.
In terms of practical applications, Magic's uses include staking for yields, summoning legions and crafting NFTs in Bridgeworld, as a settlement currency for TroveMarket, and as a staking currency in games such as Battlefly. Magic is also used to participate in project governance, such as the distribution of ecological ** and treasury revenues.
Analyzing Magic's monthly trading volume in the Treasure market can reveal trends in its market performance and user engagement. Since the start of recording in November 2021, Magic's trading volume has experienced significant fluctuations. In February 2022, the trading volume reached a high of 400 million MAGIC. After that, despite the decline in trading volume in July 2022, it remained around 2 billion MAGIC. However, from October 2022 to January 2024, the trading volume of MAGIC showed an overall downward trend, remaining below 10 million MAGIC for most of the time. From mid-to-late 2023 to early 2024, the trading volume will be further reduced to several million MAGIC.
These data suggest that while Magic has been active for a certain period of time, the subsequent gradual decline in trading volume may reflect changes in market demand and enthusiasm for participation. As a key component of the Treasure ecosystem, the future application prospects and market performance of the Magic token deserve continued attention. Next, we will summarize the overall development of Treasure DAO, its position and future direction in the crypto gaming field.
TreasureDAO's success in numerous GameFi projects is due to its excellent token economy design, effective community operation, and keen insight into market demand. Through these strategies, TreasureDAO has not only built a stable and sustainable ecosystem, but also built a loyal and active user base. It provides an integrated gaming platform for web3 gamers, while also providing game developers and publishers with the infrastructure they need to develop and publish their games. This makes TreasureDAO an important bridge between players and the Web3 gaming world.
Going forward, while TreasureDAO has established itself in the crypto gaming space, its continued success will depend on adaptability to market changes and the maintenance of community engagement.
In the face of market volatility and competitive pressure, TreasureDAO needs to constantly innovate and optimize to maintain its position as an industry leader. Despite the uncertainties and challenges, TreasureDAO has the potential to continue to lead the crypto gaming industry forward with its established foundation and market positioning.