Treasure the decentralized version of Nintendo
New gaming projects could lead the next Metaverse bull run
Graphic by Treasure
Treasure DAO Ecosystem
According to their website, Treasure is a decentralized gaming ecosystem bringing games and players together through MAGIC. MAGIC is the token used in the Treasure ecosystem built on Arbitrum. Many folks have dubbed Treasure as the decentralized version of Nintendo that is ushering in the next generation of web3 games. Treasure has had very notable NFT drops like Smol Brains that had major traction among the NFT crowd. Smol Brains is creating its own game called Smolverse. At first glance, these NFTs look silly, but they are holding a floor value of 750 MAGIC or roughly around $1555 as this article is being written, which is nothing to ignore.
Graphic by Smolverse
Treasure Tops Arbitrum
Treasure is the number one gaming ecosystem and top NFT platform on Arbitrum, and it doesn’t look like it will slow down anytime soon is one of the earliest movers on Arbitrum. What makes Treasure so attractive is the number of users it continues to acquire and a key emphasis on gaming.
Macro Outlook For Treasure
Pudgy Penguins, which is considered a top NFT project, created a bridge between chains for their NFT holders and included Arbitrum in their announcement featuring the Treasure darling Smol Brains in their artwork, which is a direct nod to the Treasure ecosystem. The more prominent NFT projects that follow a similar path for the Treasure ecosystem could ultimately mean more gamers flocking to the Treasure ecosystem for fun experiences.
Treasure Innovations
Treasure’s MagicSwap V2: is the First AMM with “Universal Token Compatibility” that expands upon this idea of NFT interoperability and functionality in game. MagicSwap seeks to bring true expansion to the entirety of web3 gaming by supporting ERC-20s, ERC-721s, and ERC-1155s with the ability to add new NFT types using custom vaults quickly. MagicSwap is set to release in Q2 2023, which could be a major catalyst for the Treasure ecosystem moving forward as it will utilize the Magic token. See the full breakdown article here:
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We already see a huge steady rise in the amount of new daily users, and MagicSwap could aid more game devs and users coming into the Treasure ecosystem.
Chart by Dune
Treasure implements TreasureTags, which allows gamers to mint their gamer tags. Over 46k users have signed up for this feature in just 1 week. TreasureTags will give gamers a more seamless experience across the entire Treasure ecosystem when they play different game titles. This would work much like an Xbox gamer tag and track your achievements across different games. TreasureTags also allow gamers to compete on leaderboards which could make some games attractive for pro players and esports in the future.
Magic Token
The Magic token has performed very well in the last few months, seeing a steady rise in token price. As more games come online and are onboarded to the Treasure ecosystem we could see a rise in token use and utility.
Chart by CoinMarketCap
In Conclusion
The Treasure ecosystem is still very young, building upon its successes with innovative features like MagicSwap that could attract more game devs and users. Treasure has just a handful of games and could continue to see more and more games come to the ecosystem, given the improved marketplace, gamer IDs, and MagicSwap that allow more of a seamless user experience. We could see more accessible games on Treasure due in part to the nature of how cost-effective Arbitrum is compared to using Ethereum mixed with the games Treasure is putting out. Don’t be too surprised to see more and more traction as time goes on, as this is one of the most highlighted gaming ecosystems in web3. Treasure has made significant strides since it launched. Keep a close eye on this ecosystem.