What Is Treasure (MAGIC)?
Treasure is the decentralized game console. Founded in 2021, Treasure is a base layer for the next generation of games, powered by its native token $MAGIC. Treasure is a gaming network and blockchain that is built on the ZK Stack by ZKsync, one of Ethereum’s Layer 2 scaling solutions.
Treasure is home to over 10 games, with notable titles that include: The Beacon, Wanderers, Zeeverse, and many others.
The token was launched in September 2021 so its community could buy and sell in-game NFTs on Treasure. It also acts as a reserve currency for Treasure’s metaverse.
Who Are the Founders of Treasure?
Treasure was established by two co-founders: John Patten and Karel Vuong.
Treasure and $MAGIC are operated by a decentralized autonomous organization (DAO), which consists of over 30 core community contributors. The DAO’s team members include experienced developers, product managers, economists, creative marketers, artists, and many enthusiastic gamers.
What Makes Magic (MAGIC) Unique?
MAGIC is the native token that powers Treasure's "decentralized game console". It is used as a utility token that connects its metaverse of games and decentralized infrastructure. MAGIC's current role is:
- Unit of account on Treasure’s native NFT marketplace and base pair within its AMM
- The native staking token for the data availability layer across Treasure’s Infinity Chains blockchain network
- The governance token for the network of chains, voting on core emissions policy and protocol upgrades
- Cross-game currency that connects games, players, metaverses, and communities, all within Web 3.0.
MAGIC is the official currency of the Treasure ecosystem. It acts as a cross-metaverse currency that links together separate gaming communities. It was designed to become increasingly scarce over time as more players join the ecosystem.
You can earn and use MAGIC tokens across Treasure's games. You can also stake MAGIC tokens in Magicswap, Sushi, and within games in order to help govern the Treasure platform and participate within the ecosystem.
Treasure is a community-driven gaming project that started as a fair launch: small gaming communities are at the center of its ecosystem. Each smaller gaming community is “connected through lore, guilds, resources, and MAGIC.” These separate communities can trade NFTs and collaborate using MAGIC tokens. More established communities can, for instance, use MAGIC to help develop new or emerging projects.
Related Pages:
Check out the ultimate guide to the ZKsync ecosystem by CMC.
Learn more about non-fungible tokens (NFTs) with CMC glossary.
CoinMarketCap takes a deep dive into GameFi.
Read about Adventure Gold (AGLD).
Read about Axie Infinity (AXS) and CryptoZoon (ZOON).
How Many Magic (MAGIC) Coins Are There in Circulation?
$MAGIC is an ERC-20 token with a maximum supply of 347,714,007 coins. It’s a deflationary token whose holders can vote on governance matters in the Treasure ecosystem.
MAGIC was originally distributed at the following ratios:
- Community: 33%
- Mining: 25%
- Liquidity: 17%
- Ecosystem Fund: 15%
- Contributors: 10%
As of November 2024, MAGIC’s circulating supply is 273,210,922 / 347,714,007 (79%).
How Is the Treasure Network Secured?
Treasure and MAGIC is built atop ZKsync's ZK Stack, a layer-2 scaling solution which sits on Ethereum. MAGIC is therefore secured by Ethereum’s Layer-1 proof-of-stake (PoS) consensus mechanism.
Where Can You Buy Magic (MAGIC)?
As of November 2024, MAGIC is listed on Binance, Coinbase Exchange, Uniswap (V2) and Uniswap (V3), SushiSwap, Gate.io, OKX, Huobi, Bybit, Bitget, MEXC, LBank, CoinEx, BitMart, BTCEX and BitForex.
Want to keep track of MAGIC prices live? Download the CMC mobile app.
What are the top NFT games? Find out with CMC Alexandria.