MAGIC/USD (-0.44%)
MAGIC is a reward token that sustains metaverse projects built on the Treasure ecosystem. The ecosystem operates using Arbitrum, a Layer-2 scaling solution designed to enhance the Ethereum Smart Contracts through speed, reduced transaction costs, and more privacy.
Players on Treasure can earn $MAGIC by playing, mining, and staking their tokens. Long-term token holders are highly rewarded for their role in creating scarcity and harnessing liquidity for the protocol and are further allowed to participate in the governance of the DAO. $MAGIC is also used for NFT transactions in the TROVE marketplace. The token's emission is halved each subsequent year to sustain its market presence.
A Bit About MAGIC
$MAGIC was launched as the composable currency of Treasure, a decentralized 'game console', on September 2021 by John Patten. The magic token enables interaction between metaverses created on the network. The central metaverse on Treasure is Bridgeworld, where players can earn by playing. MAGIC has a transaction monopoly on the platform marketplace called TROVE. Users access a variety of collectibles, assets, and derivatives on TROVE that can be purchased using $MAGIC.
Users can stake NFTs and MAGIC tokens on Treasure for rewards or earn interest. Staking $MAGIC in the Atlas Mine in Bridgeworld allows users to participate in the governance of the network. MAGIC can be mined for rewards using the Proof-of-Work consensus mechanism. Mining, Staking, and Liquidity provision continuously improve MAGIC through the creation of scarcity. Scarcity creates demand for innovation. New metaverses emerge from innovation, where different derivatives and assets can be created.
The MAGIC token aims to bring sustainability to the P2E sector by interconnecting metaverses, communities, and Defi infrastructure on its gaming and NFT ecosystem.
MAGIC is the reserve currency for the Treasure gaming network. Metaverses under Treasure are interlinked by the token which is also the primary currency for TROVE marketplace transactions.
Due to the scarce nature of the token, its emissions promote the development of new ideas on the metaverses. Mature projects are also refined and as their value increases, it precipitates the formation of new Defi products that improve the quality and general functionality of the metaverses.
MAGIC is the native token used for incentives on Treasure's platform. Holding the token includes users in TreasureDAO where they can vote on $MAGIC allocation and revenue distribution for the TROVE marketplace.
Mining of MAGIC is done using the Proof-of-Work consensus which ensures the safety and verification of transactions. Minting NFTs on the open-source platform is gas-free. These NFT collectibles are shared across metaverses using $MAGIC as the transaction medium. Arbitrum's Layer-2 solution in the Treasures ecosystem ensures cheap, fast, and private transactions using MAGIC. Its emission rate is halved yearly to increase its scarcity and stability on the market To ensure the MAGIC token is averse to inflation.
Utility of MAGIC?
$MAGIC is used as an incentive for players, miners, and participants in the Bridgeworld metaverse. In Bridgeworld, players can Stake their MAGIC tokens in the Atlas Mine to provide liquidity to the network and earn passive income. Token holders can also vote on matters affecting MAGIC and TROVE marketplace operations through TreasureDAO.
MAGIC can also be put into LP positions where they level up the quality of the network through the provision of liquidity. NFT collectibles created by the network or users and listed on the TROVE marketplace are traded using $MAGIC. This makes $MAGIC the base token for all activities on the Treasure ecosystem.
MAGIC Price details
ARB Contract address: 0x539bdE0d7Dbd336b79148AA742883198BBF60342›› Details & Tokenomics
›› MAGIC tokenomics and social media
Advantages of MAGIC
+ It has sustainable liquidity due to the scarcity of the token.+ The token permits Staking for incentives and administrative perks.
+ Transactions using MAGIC are fast and charge relatively low gas fees.
+ It rewards community-driven projects.
+ The token is available in reputable crypto exchanges such as Binance.
Disadvantages
- Bridging may cause a change in token value due to regular market fluctuations.- Reliance on Ethereum restricts total decentralization.
- Mining $MAGIC using PoW is expensive and requires high energy.
- The market is volatile and not much can be predicted about its future.
- It faces competition from other similar established scaling tokens.
Costs
▪ Rated at 9/10Transactions using $MAGIC are fairly low with bridging costs on Arbitrum's Layer-2 costing between $0.003 and $0.09. Users incur varying costs using different exchanges when trading.
Reputation and Buzz
▪ Reputation rated at 9/10▪ Buzz rated at 8.5/10
Since its launch, the $MAGIC token has received wide adoption from the Play-to-Earn community. It is listed on several notable exchanges with many fans calling it the 'gem of Arbitrum.
The underlying Layer-2 infrastructure provided by Arbitrum has provided users with much-needed improvements in transaction costs and speed while maintaining privacy.
Opinions from the MAGIC community and market watchers suggest a mainly bullish future for the token due to the solid developer team and innovation strategies.
FAQ
Where is $MAGIC used?
The MAGIC token links the different metaverses on Treasure's gaming platform. Players earn $MAGIC while gaming. It is for buying or selling NFTs on the network's marketplace. Miners get rewarded with MAGIC tokens for their activity in the ecosystem. Holding a MAGIC token further allows users to participate in the governance of the token and marketplace.
Can MAGIC be Staked?
$MAGIC tokens and NFTs can be Staked on Treasure's Atlas Mine in Bridgeworld. Staking earns the users rewards in form of $MAGIC. $MAGIC holders are also allowed voting rights in the TreasureDAO.
What is the emission rate of MAGIC?
The emission rate for the MAGIC token is reduced by half every subsequent year. It is a strategic process to increase its market sustainability and stability. $MAGIC has a total supply of 347,714,007 MAGIC coins.
Where can one buy the MAGIC coin?
Users can access the MAGIC coin on a variety of exchanges, that you'll find at the bottom of this page.
History of MAGIC
September 2021 - Treasure launches the MAGIC token.
September 2022 - Treasure announces close of $3.5M MAGIC token sale after a lockup of one year.
December 2022 - MAGIC gets listed on the Binance exchange.
December 2022 - MAGIC is listed on Coinbase.
Screenshots from MAGIC
More sites where to buy/sell/trade MAGIC
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
MAGIC details and tokenomics
ETH Contract address: 0xb0c7a3ba49c7a6eaba6cd4a96c55a1391070ac9a
Ta-dah! Magic Win pulls a €6000 welcome pack out of the hat!
