Transaction volume continues to plummet, TreasureDAO relies on game chain to reverse decline

Recently, Treasure DAO team member Sambino disclosed a noteworthy news in the Discord community: Treasure Chain Litepaper will be released next week. Previously, TreasureDAO co-founder Karel Vuong stated that they are building a game chain with MAGIC as the Gas token. This strategic choice may be based on the Arbitrum or Cosmos network.

TreasureDAO is an NFT ecosystem built for games, metaverse and other types of NFT. It originated from the experimental NFT project Loot and its derivative Yeild Farming in 2021. Users can obtain Treasure by staking Loot and token AGLD. Native token MAGIC. The protocol migrated from Ethereum to the second-layer network in October 2021, and officially launched Treasure DAO in November 2021. Treasure was built around empowering MAGIC, opening its narrative as a chain gaming platform, which was once known as Cryptoworld "Nintendo".

At this special point in time, we will introduce the Tresasure DAO project to users.

TreasureDAO Overview: A comprehensive NFT platform that rewards all participants in the ecosystem with MAGIC tokens

The TreasureDAO platform is characterized by the integration of NFT, DeFi and GameFi, providing a stage for NFT and Metaverse projects to build and integrate their own ecology. Treasure develops its platform from a dual perspective: on the one hand, it serves as a decentralized game publishing platform, providing developers with the tools and resources to create and tokenize Web3.0 games; on the other hand, it also assumes the basic economy of other games. The role of the control layer allows the project party to outsource the token management work to TreasureDAO.

Treasure's team members are mainly from the community, covering developers, product managers, artists and other talents from around the world. This diverse team is supported by an active network of DAO contributors and community members who work together to drive Treasure’s growth and innovation.

In order to encourage community participation and cooperation, TreasureDAO has designed a framework to inspire community members to jointly develop and improve key parts of the ecosystem through the reward mechanism of MAGIC tokens. This approach not only promotes the extensive construction of the ecosystem, but also encourages more community members to innovate on the Treasure platform.

According to the official website information, Treasure’s leadership team includes co-founders John Patten and Karel Vuong, with John Patten serving as CEO and former head of growth at Osmosis. In September 2022, Treasure DAO launched a $3.5 million MAGIC ecological token sale proposal, attracting the participation of many heavyweight investors including Digital Strategies Guild and 1kx, demonstrating its influence and potential in the field of crypto games .

Treasure DAO’s ecological construction and team composition demonstrate its ambition as an innovator and leader in the field of crypto games. In the following sections, we will dive into how Treasure DAO has achieved significant success in the crypto gaming world through its unique platform and strategies.

Understand the economic model of MAGIC token: the design is relatively reasonable, but the transaction volume continues to decline

When delving into Treasure DAO and its ecosystem, the analysis of the MAGIC token is crucial. The total supply of MAGIC reaches 347,714,007 pieces, of which the circulating supply is 222,275,433 pieces, accounting for 63.92% of the total supply. This data point shows the extensive circulation and application of MAGIC in the Treasure ecosystem.

The distribution plan of MAGIC tokens is as follows: Treasure Farm allocates 33%, mining 25%, staking 17%, ecological construction fund 15%, and team 10% (will be gradually released within 12 years). This allocation strategy reflects consideration of different ecological players and aims to promote long-term stable development.

MAGIC’s release mechanism adopts a strategy of high initial circulation and subsequent annual halving. This design aims to stimulate active use in the initial stage while maintaining long-term value.

In terms of practical applications, the uses of MAGIC include staking to obtain income, summoning legions and synthesizing NFT in Bridgeworld, serving as the settlement currency of TroveMarket, and serving as a pledge currency in games such as BattleFly. MAGIC is also used to participate in project governance, such as the distribution of ecological funds and treasury income.

Analyzing MAGIC’s monthly trading volume in the Treasure market can reveal trends in its market performance and user participation. MAGIC’s trading volume has experienced significant fluctuations since recording began in November 2021. In February 2022, trading volume reached a high of 400 million MAGIC. Afterwards, although the transaction volume declined in July 2022, it still remained at around 2 billion MAGIC. However, from October 2022 to January 2024, MAGIC’s trading volume showed an overall downward trend, remaining below 10 million MAGIC most of the time. From mid-to-late 2023 to early 2024, the transaction volume further dropped to several million MAGIC.

These data indicate that while MAGIC was active for a certain period, the subsequent tapering off of trading volumes may reflect changes in market demand and enthusiasm for participation. As a key component of the Treasure ecosystem, the future application prospects and market performance of MAGIC tokens deserve continued attention. Next, we will summarize the overall development of Treasure DAO and discuss its status and future direction in the field of crypto games.

The future of TreasureDAO is currently unknown, but I hope its market performance will pick up after the release of Litepaper

TreasureDAO’s success in many GameFi projects is due to its excellent token economic design, effective community operations, and keen insight into market needs. Through these strategies, TreasureDAO has not only built a stable and sustainable ecosystem, but also established a loyal and active user group. It provides an integrated gaming platform for Web3 gamers, while also providing game developers and publishers with the infrastructure needed to develop and publish games. This makes TreasureDAO an important bridge connecting players with the Web3 game world.

Looking forward, although TreasureDAO has established itself in the crypto gaming space, its continued success will rely on its ability to adapt to market changes and maintain community participation.

Faced with market fluctuations and competitive pressure, TreasureDAO needs to continue to innovate and optimize to maintain its position as an industry leader. Despite the uncertainties and challenges, TreasureDAO has the potential to continue to lead the crypto gaming industry moving forward with its established foundation and market positioning.