MAGIC is an interesting crypto project and is part of the Treasure DAO ecosystem, which focuses on creating decentralized video game consoles that combine games and non-fungible tokens (NFTs) . Here is a comprehensive overview of what Magic is, how it works, to tokenomics and the uses of its tokens.
What is Magic
MAGIC is the native token of the Treasure cross-metaverse ecosystem. Designed as a uniform asset across projects in this ecosystem. The main goal of Treasure, the larger platform, is to develop gamemetaverses and facilitate user-generated virtual narratives. This ecosystem is built on the Arbitrum network, a scalability solution for Ethereum.
Founder and Team Magic
Treasure was founded by John Patten, Gaarp, and Karel Vuong. John Patten is responsible for strategic direction, Gaarp oversees growth, and Karel Vuong manages day-to-day operations. The team includes a global network of developers, project managers, artists, gamers, marketers, economists and brand architects dedicated to project development.
How it Works and Features
The center of the Magic ecosystem is the Bridgeworld metaverse, which consists of three main components: Legion (players or NFTs), MAGIC tokens, and Treasury. Players use treasures to mine tokens and build infrastructure, thereby balancing the ecosystem.
MAGIC tokens are used to buy and sell in-game collectibles on the Trove marketplace and can be staked in Atlas Mine to help manage the ecosystem. The ecosystem is governed by a decentralized autonomous organization (DAO), allowing token holders to participate in decision-making through voting.
Ecosystem
Treasure supports more than ten game projects, including BattleFly, Knights of Ether, The Beacon, LifeVerse, Tales of Elleria, and The Lost Donkeys. Each project in the ecosystem has its own community but is economically linked to the use of MAGIC. The ecosystem infrastructure includes Trove, MagicSwap, TreasureTags, and Treasure Create markets.
Tokenomics and Usability
MAGIC tokenomics involve a maximum supply of 347,714,007 tokens, with a supply schedule expected to be fully vested in September 2028. Token distribution includes allocations to staking/liquidity, ecosystem funds, and team. Following are the MAGIC token allocation details:
Meanwhile, the token distribution schedule is as follows:
The main use of the MAGIC token is for transactions in the ecosystem, especially in the Trove market, and also plays a key role in ecosystem governance.
Market Performance
MAGIC has seen significant market activity, including a notable increase in price after listing on major exchanges such as Coinbase and Binance. This listing helps increase the profile and trading volume of the token. However, the price of the token may fluctuate and depend on investor sentiment, as is the case with other cryptocurrencies.
Based on Coinmarketcap data on December 20 2023, MAGIC is in 185th position globally with a recorded market cap of IDR 3.2 trillion and daily transaction volume reaching IDR 766 billion.
Conclusion
Overall, MAGIC represents a unique combination of gaming and blockchain technology, with the goal of creating a decentralized platform for gaming metaverses. Its focus on interoperability and a unified economic system through the MAGIC token makes it a project to watch in the crypto space and gaming industry.
How to Buy MAGIC Tokens on Bittime
After reading a complete review of what Magic is, are you interested in buying and investing in this crypto project? You can buy MAGIC tokens on the best crypto exchange platforms in Indonesia, one of which is Bittime. MAGIC is available on Bittime in the MAGIC IDR pairing .
To be able to buy MAGIC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance to buy MAGIC/IDR tokens. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can make MAGIC purchases in the application.
Monitor today's price chart movements for MAGIC, Bitcoin, Ethereum, Solana and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read: More Complete Guide on How to Buy MAGIC on Bittime
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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