Magic Token Kicks Off 2023 With An Increase Of 185% After Three Weeks

Key Points:

• MAGIC gained 185%, rising from a low of $0.48 on January 9th to a high of $1.4 on January 23, 2023.
• Treasure has officially established a new Game Builders Program (GBP) to incentivise the development of aligned, high-potential games in the Treasure ecosystem.

A gaming-focused cryptocurrency built on Ethereum (ETH) is outperforming the majority of the crypto markets in the previous month, and its native token MAGIC explodes by 185% in two weeks.

Treasure, which was first constructed on the Ethereum mainnet, eventually switched to Arbitrum, an optimistic rollup scaling solution that resolves transactions off-chain for cheaper costs. Arbitrum does not yet have a token.

Treasure’s native coin and natural resource is MAGIC. Treasure intends to build a decentralized video gaming ecosystem.

Treasure has officially established a new Game Builders Program (GBP) to incentivise the development of aligned, high-potential games in the Treasure ecosystem. According to a Treasure post, Arbitrum supports the initiative.

According to the release, joining the GBP provides builders hands-on help from Treasure.

Building with Treasure launches games into a powerful flywheel of deeply connected communities and builders, strengthened through interoperability.

To begin the new year, MAGIC gained 185%, rising from a low of $0.48 on January 9th to a high of $1.4 yesterday. Since then, the Arbitrum-based cryptocurrency has retraced and is now trading at $1.26 with a market valuation of $242 million.

Arbitrum isn’t the only Ethereum layer-2 that is thriving. Optimism (OP), another prominent Ethereum scaling solution, reached an all-time high of $2.50 on Saturday, representing a gain of almost 175% since the beginning of 2023.

Polygon (MATIC), the most valuable Ethereum scaling solution by market cap, is presently trading at $0.99, up over 31% year to date.

Previously, Coincu reported that Rarible, a non-fungible token (NFT) marketplace has been expanding its white-label marketplace construction tool for Polygon-based collections.

Its infrastructure is available, and creators who mint NFTs on Polygon may freely build their own collection-specific shop. Creators can also incorporate tokens offered on other secondary marketplaces by using the platform’s native aggregation function.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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