MAGIC is the utility backbone of the Treasure non-fungible token (NFT) ecosystem. As of late, it too has had a massive run up in price. This rally is a testament to the power of Treasure’s unique vision to combine NFTs, gaming and decentralized governance in an exciting new way. MAGIC is the driving currency behind the Treasure ecosystem’s transactions, governance, and rewards.
The Role of MAGIC in the Treasure Ecosystem
MAGIC serves as the magical connective “glue” that holds Treasure’s myriad of interoperable platforms, like Bridgeworld and Smolverse, together. It’s what makes it possible to buy and sell NFTs across these interconnected worlds. The token powers a massive transactional volume of activity across the most popular NFT collections, which in turn, drives demand for MAGIC itself.
MAGIC isn’t just a transactional token though. It gives everyone who holds it the unique opportunity to take a direct role in the Treasure ecosystem’s governance by interacting with its Decentralized Autonomous Organization (DAO). Beyond their art, this gives the community a real opportunity to influence the future direction of the platform. It’s a central component to play-to-earn games in the ecosystem. There, it then gets dispersed as rewards, increasing both the circulation and scarcity of the asset.
Driving Growth and Utility
The increasing adoption of Arbitrum's layer-2 scaling solution has positively impacted the Treasure ecosystem, as MAGIC is powered by the Arbitrum blockchain. As layer 2 adoption continues to grow, the value of Treasure’s ecosystem grows with it. In addition, MAGIC’s synchronicity with the broader Web3 movement, especially through gaming and metaverse projects, puts it in a strong position for future expansion.
As the Treasure ecosystem continues to grow and develop new games and utilities, demand for MAGIC will always be a natural outcome. It’s this inherent utility that makes MAGIC a compelling prospect in the Web3 landscape. Coupled with Treasure’s ambitious roadmap and strong community support, its potential is quite compelling.
