### What is Treasure (MAGIC)?

MAGIC is the native utility token of the Treasure metaverse, a decentralised video game console built on the Arbitrum blockchain. It powers a gaming and NFT ecosystem by facilitating transactions, rewards, and governance, while connecting games and communities through decentralised intellectual property (IP) and infrastructure.

### How does Treasure (MAGIC) work?

MAGIC operates on the **Arbitrum blockchain**, an Ethereum Layer 2 scaling solution, inheriting Ethereum's Proof-of-Stake (PoS) consensus mechanism for security. The token employs a unique Proof-of-Work (PoW) mechanism for issuance, where users stake assets like MAGIC, Legion, or Treasures to mine new items.

MAGIC supports a variety of ecosystem activities, including staking for rewards, powering yield-bearing NFTs, and facilitating governance and cross-game asset transfers.

### What are the potential use cases for Treasure (MAGIC)?

MAGIC is used in several real-world applications within the Treasure ecosystem and beyond, such as:

- **In-Game Economy**: Facilitating purchases and transactions in games within the Treasure metaverse.  
- **Trading**: Buying and selling MAGIC on decentralised exchanges.  
- **Staking**: Locking MAGIC for rewards and mining ecosystem items.  
- **Governance**: Voting on platform decisions.  
- **NFT Functionality**: Powering NFTs to act as yield-bearing assets.  
- **Cross-Game Assets**: Enabling the transfer of assets between games in the ecosystem.  

Key industries include gaming, NFTs, decentralised finance (DeFi), and metaverse development.

### What is the history of Treasure (MAGIC)?

Treasure was founded in 2021 by **John Patten**, **Karel Vuong**, and **Gaarp** to address the unsustainability of existing play-to-earn models and establish a sustainable blockchain gaming ecosystem. Significant milestones in the project’s history include:

- **September 2021**: Launch of the MAGIC token.  
- **October 2021**: Migration to the Arbitrum blockchain.  
- **September 2022**: Raised $3.5 million through a token sale.  
- **Marketplace & AMM**: Launched the NFT marketplace Trove and MagicSwap, an automated market maker protocol.  
- **Rapid Growth**: Achieved a market cap of over $1 billion within 48 hours of launch.  

The project continues to evolve, becoming the backbone of a growing ecosystem that bridges gaming, NFTs, and DeFi.

### Notable Partnerships

- **BattleFly**: Integration with a play-to-earn web3 game.  
- **Chainlink**: Utilisation of Chainlink’s price oracles for ecosystem functionality.  

### Evolution of Treasure (MAGIC)

Since its launch, MAGIC has grown from a simple gaming token into a comprehensive platform connecting multiple games, NFTs, and DeFi features. The token’s scarcity model and innovative use cases have attracted significant attention in the crypto gaming space, fostering an engaged community and expanding adoption across blockchain platforms.


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