Magic

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Magic?

Magic (MAGIC) is a utility token that connects gaming communities within the Treasure Metaverse. It is a decentralized NFT ecosystem built on Arbitrum, a Layer 2 Ethereum scaling solution. MAGIC acts as a cross-game currency, allowing users to buy and sell in-game NFTs and facilitating interactions between games, players, metaverses, and communities within Web 3.0.

How is Magic used?

The crypto Magic (MAGIC) is used in various ways within the Treasure Metaverse, a decentralized NFT ecosystem built on Arbitrum, a Layer 2 Ethereum scaling solution. Here are some key use cases:

  1. Cross-Game Currency: MAGIC acts as a bridge between different gaming communities and metaverses, allowing players to use it across various games within the Treasure platform.

  2. Earning MAGIC Tokens: Players can earn MAGIC tokens by gaming, mining, and participating in activities within the Treasure ecosystem, such as in Bridgeworld, the flagship game.

  3. Governance: MAGIC token holders have governance power, enabling them to vote on proposals that shape the future of the Treasure platform.

  1. Staking and Rewards: MAGIC tokens can be staked to earn rewards, contributing to the long-term sustainability of the ecosystem.

  2. Transactions and Purchases: MAGIC is used to facilitate transactions within the Treasure ecosystem, allowing users to buy in-game assets and NFTs.

  3. Reserve Asset: MAGIC serves as a reserve asset across the Treasure ecosystem, providing deep liquidity.

  1. NFTs and Productive Assets: MAGIC powers NFTs, turning them into productive yield-bearing assets.

These use cases highlight the versatility and importance of MAGIC within the Treasure Metaverse.

How do I store Magic?

To store the crypto Magic (MAGIC) tokens, you can use various methods to keep them organized and easily accessible. Here are a few suggestions:

  1. Token Wallet: Store your MAGIC tokens in a digital wallet specifically designed for cryptocurrencies. This wallet will securely hold your tokens and allow you to manage them efficiently.

  2. Token Tracker: Utilize online token trackers like Arbiscan.io to monitor your MAGIC tokens. These trackers provide detailed information about your tokens, including their value, holders, and transfers.

  3. Staking: If you plan to use your MAGIC tokens within the Magic Square ecosystem, consider staking them to unlock various utilities such as governance, user access packages, and referral rewards.

  1. Offline Storage: For added security, you can store your MAGIC tokens offline using cold storage methods like hardware wallets or paper wallets. This helps protect your tokens from potential online threats.

  2. Organization: Keep track of your tokens by organizing them alphabetically or by type. This makes it easier to locate specific tokens when needed.

By following these methods, you can effectively store and manage your MAGIC tokens.

How to buy Magic?

To buy MAGIC tokens, you can follow these steps:

  1. Create a Coinbase account: Download the Coinbase app or visit their website to sign up. You will need a valid ID and may be asked for proof of address to transact.
  2. Add a payment method: Connect a payment method such as a bank account, debit card, or initiate a wire transfer.
  3. Search for MAGIC: On Coinbase.com, click the Buy panel to search and select MAGIC. On the Coinbase mobile app, type "MAGIC" into the search bar.
  4. Enter the amount: Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert it into a MAGIC amount.
  5. Finalize your purchase: Tap "Preview buy" and review the details of your purchase. Confirm your purchase by clicking "Buy now."

Additionally, you can also explore other platforms and marketplaces that sell MAGIC tokens, such as online stores specializing in cryptocurrency trading or peer-to-peer exchanges.

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History of Magic

The crypto token Magic (MAGIC) is a decentralized NFT ecosystem that runs on Arbitrum, one of Ethereum's Layer 2 scaling solutions. It was launched in September 2021 to connect gaming communities in the Treasure Metaverse. MAGIC acts as a cross-game currency, allowing players to buy and sell in-game NFTs on Treasure and other metaverse projects connected to the Treasure ecosystem.

Key Features and Uses
  • Decentralized NFT Ecosystem: MAGIC is built on Arbitrum and secured by Ethereum's Layer-1 proof-of-stake consensus mechanism.
  • Cross-Game Currency: MAGIC connects separate gaming communities and allows players to earn tokens through gaming, mining, and participating in various activities within the Treasure ecosystem.
  • Deflationary Token: MAGIC has a maximum supply of 347,714,007 coins and is designed to become increasingly scarce as more players join the ecosystem.
  • Governance: Holders can vote on governance matters within the Treasure ecosystem.
  • Staking: MAGIC tokens can be staked in the Atlas Mine to help govern the Treasure platform and earn rewards.
Founders and Team

MAGIC is supported by the Treasure platform, which was founded by three co-founders: John Patten (Strategy), Gaarp (Growth), and Karel Vuong (Operations). The team has experience in various fields including development, product management, economics, marketing, and gaming.

Historical Data and Price

The historical price data for MAGIC can be accessed through various platforms, providing information on the open, high, low, and close prices, as well as trading volume and market capitalization over different time ranges.

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How Magic works

Magic (MAGIC) is a utility token that connects gaming communities within the Treasure Metaverse. It acts as a cross-game currency, allowing players to buy and sell in-game NFTs and participate in various activities across different metaverse projects. MAGIC is built on Arbitrum, one of Ethereum's Layer 2 scaling solutions, and is secured by Ethereum's Layer-1 proof-of-stake consensus mechanism.

Earning MAGIC Tokens

Players can earn MAGIC tokens by gaming, mining, and participating in activities within the Treasure ecosystem. The token can be used in various ways, such as a means of payment within the Treasure Metaverse and other connected projects, buying and selling NFTs on the decentralized marketplace Trove, and staking in the Atlas Mine to help govern the Treasure platform and earn rewards.

Governance and Tokenomics

MAGIC is a deflationary token with a maximum supply of 347,714,007 coins. Holders can vote on governance matters within the Treasure ecosystem. The token's emission rate is designed to decrease over time, mimicking Bitcoin's halvening but occurring every year instead of every four years. This mechanism aims to create a loyal community and established use cases, making the token more valuable as it becomes increasingly scarce.

Proof of Work and Mining

In the Treasure ecosystem, users can participate in a proof of work mechanism by staking MAGIC and other assets to earn new items. This process involves creating an economy of assets where the rarest items are earned through labor. The cost of farming includes the initial assets and the time taken to perform the actions. This mechanism is designed to create slow, continuous growth in liquidity and rewards users for enhancing the quality of the ecosystem.

NFTs and DeFi Integration

MAGIC is used to power NFTs, turning them into productive, yield-bearing assets. The token is integrated with DeFi, allowing users to convert their NFTs into productive assets and earn rewards. The Treasure ecosystem also includes a decentralized marketplace where users can buy and sell NFTs using MAGIC.

Founders and Development

MAGIC is supported by the Treasure platform, founded by three co-founders: John Patten (Strategy), Gaarp (Growth), and Karel Vuong (Operations). The team has experience in various fields, including development, product management, economics, marketing, and gaming.

Open Source and Community

The Treasure platform is open source, allowing anyone to contribute to its marketplace, quests, and lore to receive rewards. This open nature encourages community involvement and helps to build a loyal user base.

Overall, MAGIC is designed to be a central currency for the Treasure Metaverse, facilitating transactions, governance, and DeFi activities while creating a loyal community through its tokenomics and proof of work mechanisms.

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Magic's strengths

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Magic’s team

  • Andrey Nayman, Ph.D.: Co-Founder & CEO, seasoned technical leader with deep knowledge and proven experience in managing complex crypto projects.
  • Sean Li: Co-Founder & CEO of Magic, focused on bringing the next 1 billion users to crypto and Web3 via Magic Wallet.
  • Sidney: Co-Founder & Chief Technology Officer of Magic Eden, with a background in crypto, DeFi, and consumer internet companies.
  • Adam: Entrepreneur, Mathematician, Quant & Professional Investor, early adopter of crypto, and former MD of Radical Ventures.
  • Blockchain & Web3 Expert: Expert in dApps, DAOs, CeFi & DeFi projects, with a Master's Diploma in NLP & Hypnosis and extensive experience in Affiliate Marketing.
  • Lawyer: Skilled in Corporate Affairs & Regulation, Commercial Contracts (including M&A), Corporate Law Finance & Investments, with over 10 years of experience in corporate law.
  • Treasury Management Expert: CPA with years of experience managing international venture accounting, specializing in the security of financial ecosystems.
  • Seasoned Leader: Experienced in managing large-scale international organizations in finance and fintech, promoting Transformational Leadership and the ROWE method.
  • Blockchain Professional: Expert in analysis, management, and execution, with over 100 M&A and crypto deals closed, starting his career in Investment Banking in 2011 and moving to crypto in 2017.
  • Product Advocate: Focused on building better experiences for users and project developers, leading in creating intuitive, engaging, and valuable interactions within the Magic Store platform.

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