Introduction
The official documentation for Treasure, the decentralized video game console connecting games and communities together through imagination, $MAGIC, and NFTs.
Treasure is a decentralized NFT ecosystem on Arbitrum that is built specifically for metaverse projects. Every project listed on Treasure’s marketplace utilizes MAGIC in their respective metaverses, with each community inventing its own lore and storytelling for this resource. MAGIC, the native token of Treasure, is the sole currency for marketplace transactions. In this way, MAGIC acts as the reserve currency for the entire web of metaverses connected under the Treasure umbrella.
Treasure projects are linked–narratively and economically–through MAGIC. The DAO uses MAGIC emissions to grow new projects and continue supporting more mature ones.
The central metaverse in Treasure is a place called Bridgeworld, where MAGIC is emitted and harvested. Bridgeworld utilizes a three-part resource economy:
- $MAGIC (Power);
- Treasures (Resources); and
- Legions (NFT | Players)
Legions use treasures to mine for MAGIC and build larger forms of infrastructure and equipment. MAGIC is the resource that allows legions to quest and craft new items using treasures. The relationship between treasures and MAGIC is the equilibrium underpinning Bridgeworld.
MAGIC is an increasingly scarce resource needed to “power on” treasures and allow them to function as productive assets. Treasures produce the instruments and materials needed to continue mining MAGIC. This dance between treasures and MAGIC forms a base layer metaverse on which other metaverse economies can be built and connected.
The TreasureDAO, governed by staked MAGIC holders, oversees the project. The goal of Treasure is to allow communities to bootstrap new, decentralized metaverses. We believe that metaverses are community-written stories, and resources are threads by which the fabric of the metaverse is sewn.
The DAO votes on which projects to onboard, MAGIC distribution, and revenue sharing agreements for the marketplace. Treasure has enjoyed a strong grassroots community in its brief history. Over time, we expect the DAO to cultivate a much larger ecosystem with multiple product offerings. In 2022, the DAO will be launching a generalized NFT marketplace (transacted in ETH) as an additional revenue source. Projects on this marketplace will not be related to MAGIC or Bridgeworld. The marketplace simply provides the DAO with additional runway to continue supporting the growth of the overall Treasure ecosystem.
Over time, Treasure hopes to become the beacon of decentralization across the entire NFT ecosystem. The DAO will begin building decentralized competitors to existing NFT products, using this revenue to jumpstart new projects and continue growing older ones. MAGIC acts as a flywheel to increase decentralization in the metaverse and develop decentralized crypto-economic primitives that can function as “real world” economic assets.
Click to view the "The Composable Metaverse", the TreasureDAO Community WGMI Trailer.
Treasure is a fair-launch, community-driven project. The vast majority of Treasure’s team members came directly from the community, inspired by Treasure’s ethos of building in the open. The DAO has established a framework by which the community can build alongside the team and receive rewards in MAGIC for developing key parts of the ecosystem (e.g., tooling, lore, quests). These incentives deepen MAGIC’s network effect by aligning the broader ecosystem and incentivizing other communities to build on top of Treasure.
Every item in the Treasure ecosystem–legions, treasures, and MAGIC–was distributed for free. The other collections on Treasure’s marketplace were also free-to-mint, fair launch projects. Moreover, Treasure itself is open source. The marketplace, quests, and lore are publicly-hosted projects to which anyone can contribute.
The DAO believes that metaverse assets become valuable because of the work that users put into acquiring them. Moreover, metaverses need fair launch origins and decentralized decision-making to sustain community participation over the long-term.
The genesis story of the project has attracted collaborators who align with our vision of community-run, decentralized metaverses. In December 2021, the DAO voted to approve a strategic partnership with 1kx, an early-stage investment fund that shared Treasure’s belief in grassroots building. 1kx spearheaded a network of strategic investors who enabled the DAO to diversify its treasury and rapidly scale the project.
Treasure is DAO-governed. To ensure a degree of structure, however, a group of dedicated DAO members from the "Treasure Council" will help execute Treasure's vision.
Decentralization solves a crucial scaling problem. There is no way the team (no matter the size) can scrape together a collective imagination sufficient to construct the entirety of this metaverse. Decentralization, therefore, creates the conditions by which a true metaverse can develop and be free of proprietary distortion.
Last modified 3mo ago