A recent buzz on the NFT twitter front is about Treasure DAO, a decentralized ecosystem aiming to be the currency of the metaverse with their $magic NFT project. Treasure DAO connects NFT projects into a broad, story-rich ecosystem.
A reasonably new ecosystem, Treasure looks quite challenging in its effort to connect the expanding network of metaverses by taking an open and modular approach to integrating NFTs, DeFi, and Gaming. Treasure is a decentralized NFT ecosystem on Arbitrum, one of Ethereum’s layer 2 networks, explicitly built for metaverse projects.
1/ To prepare for the launch of our native marketplace, we wanted to recap the project for new users.
Treasure began with a simple idea: what if we built a metaverse around fictional resources instead of characters?
From there, the Treasure metaverse was born. pic.twitter.com/4RB3W4P6B8
— TreasureDAO (@Treasure_DAO) October 31, 2021
All the projects listed on the Treasure marketplace use $MAGIC in their metaverse. The Treasureverse focuses on integrating DeFi in a fun, accessible way by gamifying underlying concepts like Liquidity Providing.
The DAO is one of the most significant players on Arbitrum and has launched several projects, including native NFT collections and the Treasure Marketplace.
Treasure is a gamified economy within the Bridgeworld consisting of three basic assets, namely $MAGIC, Treasures, and Legions.
There are 4 things you can do with your Bridgeworld NFTs:
1.Summoning
2.Questing
3.Crafting
4.MiningAll offer opportunities to earn/receive legions, MAGIC, Treasures, or consumables pic.twitter.com/SRN2MEsVnr
— Feline (✨,🧠) (@BowTiedFeline) January 20, 2022
Here $MAGIC is the native token that needs to be staked to fuel the Treasures and turn them into productive assets. In turn, Treasures provide the resources to continue to mine $MAGIC. Legions are proxies for players and used to earn Treasures, craft items, and mine MAGIC. Other advanced concepts like liquidity providing are also abstracted and gamified.
Like a multimedia role-playing game, one needs to level up their characters (legions) by mining more and more Treasure and to do so, one would require $MAGIC to fuel their gaming expeditions.
Each project listed on the Treasure marketplace uses $MAGIC in its metaverse. Each community creates its own story for the Treasure marketplace, and all treasure projects are linked through $MAGIC.
4/ This dual resource model is the foundation for the Treasure metaverse.
The key players in this world are Legions, the soldiers mining MAGIC and using treasures to upgrade their class.
We are working w/ the former Head of Graphics at Netflix on a stand-alone Legions game. pic.twitter.com/5XixEJjb5H
— TreasureDAO (@Treasure_DAO) October 31, 2021
$MAGIC is the native token of the Treasure universe. MAGIC powers the Treasure NFTs, turning them from art into productive assets. It also serves as the medium of exchange on the Treasure Marketplace.
$MAGIC uses deflationary tokenomics, which rewards early investors and promotes price appreciation. Mining of new $MAGIC takes place using consumable resources generated by Treasures and labor from the Legion proxy characters.
Treasures are NFT projects from Treasure DAO and their partners in the Treasure metaverse. The lore of these projects is incorporated into the gestalt via their integration with Bridgeworld, and they benefit from the associated composable infrastructure.
Treasures can be used to craft consumables or staked to earn MAGIC and their benefits within the native projects. They are a primary source of value accrual in the ecosystem.
