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Bitvavo makes MAGIC as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Treasure is a platform that connects users and games within the Web3 world. Many gaming and metaverse platforms operate independently of each other, leading to fragmentation and limited opportunities for collaboration. Traditional gaming ecosystems are often controlled by central corporations, leaving players with little influence and limited ownership over their digital assets. Treasure addresses this problem by providing a decentralized ecosystem that gives ownership and control back to the users.
The platform uses Treasure NFTs and the native MAGIC token to provide a decentralized infrastructure where developers can build and support metaverse projects. The metaverses and games are all connected by the MAGIC token, which is used for transactions, rewards, and connecting different projects within the ecosystem. Treasure runs on Arbitrum, a scaling solution for Ethereum, which allows for faster and cheaper transactions, and is essential for gaming and metaverse platforms.
Bridgeworld is the central metaverse project within Treasure, where the platform’s economy runs. It uses MAGIC, Treasures, and Legions to fuel gameplay. Treasures are different types of tokens that players can use to enhance their gaming experience and for staking. Legions are Treasure NFTs that players can use to complete tasks and mine MAGIC. These NFTs have unique properties and can be upgraded by collecting Treasures. On Trove, an NFT marketplace, players can buy and sell NFTs using MAGIC or ETH tokens. On MagicSwap, players can trade their MAGIC tokens for other currencies within the ecosystem.
Treasure was founded by John Patten, Gaarp, and Karel Vuong. John Patten is responsible for strategy, Gaarp focuses on growth, and Karel Vuong manages operations. Together, they created a platform that is now managed by a Decentralized Autonomous Organization (DAO). This DAO consists of 36 active community contributors, including experienced developers, product managers, economists, marketers, artists, and gamers, who collectively determine and support the direction of the platform.
Treasure has many different functions. You can use it for:
The Treasure ecosystem consists of three main layers: Cartridges, Community, and Infrastructure. Each of these layers plays a crucial role in supporting metaverse projects and fostering interaction between users.
Cartridges are the first layer and consist of metaverses and games developed using the MAGIC token. Developers can create and launch Cartridges for free. These metaverses and games are connected by the MAGIC token, allowing players and developers to experience a shared economy and interoperability. Examples include LIFE, Smolverse, Bridgeworld, Battle Fly, and The Beacon.
The Community Layer consists of several communities that are independently managed by their developers. While each community is unique, they all leverage the MAGIC token. This layer promotes collaboration and growth by providing a shared infrastructure and economy, where users can participate in and benefit from various activities and projects.
The Infrastructure layer is the backbone of the ecosystem, providing the economic engine and the necessary tools and resources for developers to build and grow new projects. This layer includes the Trove marketplace, MagicSwap, and staking mechanisms. It ensures that the Cartridges and Community layers can function effectively by providing a secure and scalable infrastructure.
Within the Treasure ecosystem, you will find several projects such as Bridgeworld, Trove, and MagicSwap. Bridgeworld is the central metaverse project and acts as the foundation for the economic layer and gamified infrastructure. Trove is the marketplace where users can buy and sell NFTs using MAGIC or ETH. MagicSwap is the platform that supports the exchange of MAGIC with other currencies within the ecosystem.
Trove is a marketplace where users can buy and sell NFTs using MAGIC or ETH. It provides a platform for trading and economic interaction within the Treasure ecosystem, allowing users to trade valuable in-game items and manage their digital assets. MagicSwap is the platform that supports the exchange of MAGIC with other currencies within the ecosystem. The ability to exchange tokens from different metaverses and games promotes cross-game economics, giving users the opportunity to easily leverage multiple projects.
The MAGIC token is the core of the Treasure ecosystem and has several important functions. As a utility token, MAGIC is used to transact on the Trove marketplace, where users can buy and sell NFTs. Additionally, MAGIC serves as a reward for players who participate in activities within the Treasure ecosystem, such as completing tasks and playing games. The MAGIC token also enables interoperability between different metaverses and games, creating a seamless user experience.
MAGIC serves as the economic foundation and reserve currency for the Treasure platform. This helps ensure stability and store of value within the ecosystem. The maximum supply of MAGIC is limited to 347,714,007 tokens.
Staking MAGIC is a way to earn rewards and actively participate in the growth of the Treasure ecosystem. In order to stake, users need to lock their MAGIC tokens in Atlas Mine, Treasure’s staking platform. This starts with purchasing MAGIC from Bitvavo. The tokens can be transferred to an external compatible wallet, such as MetaMask, which you connect to the platform. Users can then select their MAGIC tokens and enter their desired staking amount.
Once the tokens are staked, users will begin earning rewards in the form of additional MAGIC tokens. The size of the rewards depends on the amount and duration of the staking. Additionally, stakers can participate in governance within the Treasure DAO, giving them influence over the development and future of the platform.
Treasure has a number of unique features that set it apart in the crypto and Web3 world:
At Bitvavo you can safely buy Treasure (MAGIC). Our platform is suitable for both novice and experienced traders. Follow these steps to buy MAGIC tokens via our website and app:
After purchase, your MAGIC tokens are automatically deposited into your Bitvavo account, where you can easily manage and trade them. Selling MAGIC tokens is just as easy from your account, allowing you to quickly respond to price and market changes.
You can safely store your MAGIC tokens in your Bitvavo account. The majority of assets are kept in cold storage by Bitvavo, which means they are managed offline for added security. We also recommend enabling two-factor authentication (2FA) for an extra layer of security for your account.
Many software and hardware wallets support MAGIC. After purchase, you can easily transfer the MAGIC tokens to an external wallet by linking the wallet address to your Bitvavo account. This way, you have full control over your cryptocurrencies.
* This is for informational purposes only and is not advice, nor should it be relied upon as such.
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Trading digital assets involves significant risks. Digital assets are highly volatile and you may lose some or all of your investment. The information on this page does not constitute advice, and should not be relied upon as such. Bitvavo is authorized as a crypto-asset service provider under Regulation (EU) 2023/1114 (MiCA) by the Autoriteit Financiële Markten (AFM), Vijzelgracht 50, 1017 HS Amsterdam. More info can be found in our Risk Disclosure.
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