Treasure DAO Review: The Fisrt NFT Project On Arbitrum
As the largest decentralized NFT ecosystem on Arbitrum with the aim of connecting NFT Metaverse, DeFi, Gaming projects into a large ecosystem, Treasure DAO is growing and expanding. Let’s learn details about this project with Coincu through this Treasure DAO Review article.
What is Treasure DAO?
Treasure DAO is a decentralized platform that has effectively connected NFT projects into a vast ecosystem. Treasure DAO is now the biggest decentralized NFT ecosystem on Arbitrum (Layer-2 platform on Ethereum).
Treasure DAO projects all utilize MAGIC to combine their functionality.
Treasure DAO members have the ability to vote on a variety of topics, including selecting projects to start, the distribution of MAGIC, and revenue-sharing agreements with Treasure, which offer extra monies to support the growth of the whole Treasure ecosystem.
Treasures are items, NFTs that may generate new resources (similar to mini-factories), but only once a sufficient number of MAGIC tokens have been invested. Treasures may also be used to create the tools required to extract more MAGIC. The whole technique is meant to gradually make MAGIC mining more difficult.
The project’s purpose is to strengthen present LP incentives and develop a long-term asset economy. Conventional liquidity mining offers quick success but little long-term efficacy, but TreasureDAO is attempting to build a long-term community rather than rapid liquidity.
In layman’s words, TreasureDAO would provide an ecosystem within which other gaming developers would want to enter. For the first two weeks following the launch, these projects would get 50% of MAGIC emissions. In return, the project will only sell its NFT via the Treasure DAO marketplace (2.5% of sales will benefit the DAO). As part of its gaming mechanics, partner projects must also collect MAGIC.
MAGIC is placed in staking or LP positions forever, reducing the number of tokens available. The token then obtains “density” (i.e., a devoted community and known use cases), implying that it may be used to build new sorts of derivatives and financial products.
How does it work?
They invested a lot of money in past GameFi 1.0 projects designing the game, the reward mechanism, and integrating tokenomic in the system, which is a time-consuming and costly operation. Moreover, as the play-to-earn mechanism matures, one of the challenges for metaverse enterprises is liquidity.
In response to the aforementioned issues, TreasureDAO was created to provide several ideal solutions for gaming and NFT platforms. Treasure DAO chooses to deploy and employ a single token to trade in the ecosystem rather than fragmenting too many tokens like GameFi 1.0 did.
Participants may use MAGIC to exploit and enjoy the game on the platform without having to exchange (convert, buy, and sell…). Token holders also have administrative powers; for example, game players may mint (mine) NFT and sell them on Trove (Treasure Marketplace), then collect MAGIC to exchange for other tokens. MAGIC may be used by the new project team to create and engage additional participants.
When customers utilize Trove, they must pay a 5% royalty charge, which will be deducted from TreasureDAO’s earnings. Now, the Treasure DAO Review article will explore the features of the project.
Treasure DAO features a marketplace called Trove that assists all users in trading NFTs, updating more information on occurrences of all Treasure DAO gaming projects, and most of all, this is the highest rate marketplace on the Arbitrum ecosystem till now. To trade on Trove, you will need MAGIC or ETH.
This is the first Arbitrum marketplace capable of displaying, purchasing, and selling NFTs compatible with all sorts of Tokens.
Bridgeworld is at the core of the Treasure DAO, enabling the Treasure sharing economy through a broad economic structure meant to encourage multi-metadata partnerships and resource sharing.
Bridgeworld is the project’s focal point, but it’s still mostly a game about strategic business, trade, and dominance.
Bridgeworld serves as a layer connecting projects in the Treasure ecosystem as well as a bridge between NFT initiatives. Bridgeworld is based on three major assets:
- MAGIC token: Native token for the Treasure ecosystem, regarded as the primary source of energy as well as productive assets for marketplace transactions.
- The MAGIC token connects all Treasure initiatives. Moreover, the DAO employs MAGIC emissions to establish new projects while continuing to fund existing ones.
- Treasures: are NFT initiatives that reside in the Treasure metaverse and are created by the Treasure DAO. It may be used with features such as crafting things or stakes to gain MAGIC.
- Legions: Serves as a stand-in for the players. By depositing their Legions, players may earn Treasures, construct things, and mine MAGIC.
Products of Treasure DAO
The project ecosystem is divided into three sections: Gaming & Metaverse, TreasureDAO community, and Infrastructure. These are being developed concurrently and are the platform’s core products.
Game & Metaverse
The primarily utilized token in this realm is MAGIC, which was built by TreasureDAO and is cooperatively developed and maintained by the system.
Treasure has created games such as BattleFly, Knight of the Ether, LifeVerse, Realm, Tales of Elleria, The Beacon, The Lost Donkeys, and Toadstoolz. Several elements will be available in the game to assist players, including:
- Bridgeworld functions as a connection layer for Treasure ecosystem projects, a bridge between NFT gaming projects, and works on three key assets such as MAGIC (Treasure ecosystem native token, primary energy, and productive assets) for marketplace transactions.
- Smolverse is a strategic game built on the TreasureDAO platform.
- The Beacon is an RPG with a battling and defense theme in which each character is turned into an NFT object that can be swapped in the Marketplace.
- BattleFly, Realm, and Tales of Elleria are also featured in the feature set, each reflecting a distinct game theme in the metaverse game.
Throughout the ecosystem, there are numerous little communities of gaming initiatives. The community organization will act as a middleman between many different parties, and MAGIC will be the primary mechanism for parties to trade and purchase NFT and in-game resources.
Here is where many of the platform’s tools for creating games and other materials come together. Marketplace, Magicswap, DAO (Treasure Governance), TreasureTags, and Treasure Create are some of the primary goods. There is:
- Marketplace (Trove) is the first Arbitrum marketplace that is compatible with all token standards, allowing users to trade NFTs and stay up to speed on the activities of gaming projects in the ecosystem. TreasureDAO. Trove has two categories: Leaderboard and Activity, which are used to rate the activities and NFTs of participants. As fees, the tokens MAGIC and ETH will be utilized.
- Magicswap is a feature that allows users to exchange tokens on supported networks. To engage in Treasure’s gaming environment, users must have tokens in order to generate fees and convert awards for profit. If you’re interested in learning more about this feature, go here.
- Treasure Governance is used to debate, give strategies for, or provide solutions to linked concerns in the ecosystem; learn more here.
- TreasureTags are free to name tags that may be found on player profiles. These tokens enable users to authenticate and identify themselves and request involvement in subsequent game releases.
- Token Name: Treasure DAO Token
- Ticker: MAGIC
- Blockchain: Arbitrum
- Token Standard: ERC-20
- Contract: 0x539bdE0d7Dbd336b79148AA742883198BBF60342
- Token Type: Governance
- Total Supply: 339,645,510 MAGIC
- Circulating Supply: 229,980,572 MAGIC
- Treasure Farm: 33%
- Mining: 25%
- Staking / Liquidity: 17%
- Ecosystem Fund: 15%
- Team: 10%
- Offer liquidity in MagicSwap and SushiSwap pools.
- Tokens are also used in Trove to trade NFTs (game stuff).
- Treasure DAO governance (voting, proposals, and so on) through MAGIC staking (receiving gMATIC).
- Used to fund the development of gaming initiatives in the ecosystem.
There is no token sale event for MAGIC. Instead, Treasure has indicated that it would adopt a fair launch token system for the community, with no preferential allocation for industry insiders, ensuring a level playing field for everybody.
Team members and community contributors listed in the Treasure DAO documentation:
- @jpatten__ (John) – Founder | Creative Advisor
- @yyyy (Yuta) – Founder | Solidity Dev | Game Lead
- @gaarping – Founder | Growth | Tokennomics | Partnerships
- @Timoraegi (Tei) – Art Director | Narrative | Game Design
- @DukePaints – Concept Artist | Imperium
- @Mao – Art | Life NFT
- @pixel_mat – Art | Smol Brains
- @notrealend – Product Lead | Quests | Consumables
- @jumpmanft – Marketplace Curation | Life NFT
- JoshB – Community Management
- @sisu Social Media | Marketing
- @JustCheese – Front End Developer | UI
- @wyze (Neil) – Front End Developer | UI
- @T1dev – Solidity Developer
Treasure has both a grassroots community and governance via the Treasure DAO. This DAO is made up of staked MAGIC owners that are in charge of overseeing the whole project. The Treasure DAO also invites community members to collaborate with team members on the refinement and expansion of the ecosystem via incentives. In the future, the Treasure DAO may grow the platform’s ecosystem and provide new items to the numerous token holders.
While Treasure is a new platform, some metaverse projects are currently active and accessible for people to engage in. Moreover, new projects are continually being developed utilizing the Treasure ecosystem. With this in mind, you may anticipate tremendous development in the future.
Investors & Partners
To implement the economy in the Treasure Metaverse world, the project received more than $3 million through financing in MAGIC lead by 1kx in December 2021.
During the funding period, renowned personalities such as Jiho (Co-Founder Axie Infinity), Merit Circle, Jason Choi, ID, and others supported the initiative.
Conclusion of Treasure DAO Review
Treasure DAO is the biggest NFT ecosystem on Arbitrum, with an economic model based on MAGIC, the project’s native token, which helps it gain market traction.
The project design might potentially add to the token’s scarcity while also sustaining its value. Treasure’s token model, on the other hand, is largely dependent on the growth of the project’s ecosystem, which may either aid or hinder the project’s future development.
Notwithstanding of the fact that circulation is now relatively low in comparison to overall supply, MAGIC is supposed to be rare, and emissions will decrease as the game economy increases. Hopefully the THORChain Review article has helped you understand more about the project.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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