Metaverse $MAGIC: What is Treasure DAO?

Treasure DAO is a decentralized effort aiming to connect NFT projects into a broad, story-rich ecosystem. The Treasureverse focuses on integrating DeFi in a fun, accessible way by gamifying underlying concepts like Liquidity Providing. The DAO is one of the largest players on Arbitrum, and has launched several projects, including native NFT collections and the Treasure Marketplace.

The team is preparing to launch their flagship project, Bridgeworld, which will serve as a layer linking together projects in the Treasure ecosystem. As the name indicates, this layer will serve as a bridge between various NFT projects, as well as house the Treasure DAO machinery like $MAGIC, Legions, and Treasures.

Understanding the Treasure Ecosystem

The Treasure ecosystem’s economy is gamified within the Bridgeworld, and functions on three base assets: MAGIC, Treasures, and Legions.

The executive summary: MAGIC, the native token, is used to power on Treasures and turn them into productive assets. Treasures provide the resources to continue to mine MAGIC. Legions are proxies for players, and used to earn Treasures, craft items, and mine MAGIC. Other advanced concepts like liquidity providing are also abstracted and gamified.

BowTiedFeline has some excellent threads on the Treasure ecosystem for further reading.

Do you Believe in $MAGIC?

$MAGIC is the native token of the Treasure universe. MAGIC powers the Treasure NFTs, turning them from art into productive assets. It also serves as the medium of exchange on the Treasure Marketplace.

MAGIC uses deflationary tokenomics, which rewards early investors and promotes price appreciation. Mining of new MAGIC takes place using consumable resources generated by Treasures, as well as labor from the Legion proxy characters.

What do Treasures do in Treasure DAO?

Treasures are NFT projects from Treasure DAO and their partners which exist in the Treasure metaverse. The lore of these projects is incorporated into the gestalt via their integration with the Bridgeworld, and they benefit from the associated composable infrastructure.

Treasures can be used to craft consumables or staked to earn MAGIC, in addition to their benefits within the native projects. They are a primary source of value accrual in the ecosystem.

What are Legions?

Legions (NFTs) are the physical entities of the Bridgeworld, borne through spontaneous cracks and expanding entropies of the Bridgeworld.

Lore aside, Legions serve as proxies for players. They are required to act within the Bridgeworld; users can send their Legions to craft items, quest for Treasures, and mine MAGIC.

Since Legions are required to use the system, they must be accessible. To accomplish this, Genesis Legions can summon other auxiliary Legions in an inflationary system. The inflation rate is kept in check by summoning cooldowns, and by requiring users to stake “balancing crystals” to “rebalance the energy” of their Legion after a certain number of summons.

The use of “balancing crystals”, aka gamified LP tokens, increases the health of the financial ecosystem while remaining accessible to unsophisticated users.

Will Treasure DAO Be Successful?

Treasure DAO is still a young project, and anything could happen. The cohort of projects they are working with is still small, but includes the massively successful Smolverse – a constellation of 2nd generation NFT projects centered around the genesis mint, Smol Brains.

Belief in the ecosystem is high, judging by the success of its native mints. Genesis Legions were a very successful mint, and command high prices. The floor at time of writing is 9,299 MAGIC ($28,500 USD) for a common variant. The All-Class variant, with strong in-game features, commands a blistering 85,000 MAGIC floor ($261,000 USD).

The Treasure Marketplace is also a vibrant community, and was the first NFT marketplace on Arbitrum. The individual success of this product surely bodes well for the broader project.

Photo of author

Written By BowTiedPickle

Anonymous cartoon pickle inspired by BowTiedBull. Degen chemical engineer, moonlighting as a Solidity developer.


This article may contain links to third-party websites or other content for information purposes. BowTiedIsland may receive a commission at no cost to you if you purchase a product after clicking one of these links. The Third-Party Sites are not under the control of BowTiedIsland, and BowTiedIsland is not responsible for the content of any Third-Party Site. All information contained herein is the opinion of the writer and does not constitute financial advice. We aim to act as a neutral third party and aid in your research and analysis.

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