Magic Coin: A Worthy Investment?

MAGIC is the utility token of Treasure, a decentralised gaming ecosystem built on Arbitrum, which is a Layer 2 scaling solution for Ethereum. MAGIC is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework. It is used for trading in-game NFTs on Treasure and also functions as a reserve currency for the Treasure metaverse. Launched in September 2021, MAGIC is intended to become increasingly scarce over time as more players join the ecosystem. But is it a good investment?

MAGIC's utility and function

MAGIC is the utility token of Treasure, a decentralised gaming ecosystem built on Arbitrum, which is itself a Layer 2 scaling solution for Ethereum. MAGIC is the connective tissue for gaming communities within the Treasure Metaverse, allowing players to trade in-game NFTs and serving as the platform's reserve currency.

MAGIC is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework. It is used for trading in-game NFTs on Treasure and can also be staked. Players can earn MAGIC tokens by gaming, mining, and participating in games hosted on the Treasure platform, such as Bridgeworld, Beacon, and Realm.

Treasure integrates DeFi, NFTs, and gaming as three separate elements: MAGIC, the cross-game digital currency; Treasures, which are in-game NFT items; and Legions, the platform's in-game NFT characters. MAGIC tokens allow players to transform Treasure NFTs into productive assets, and Legions help players receive Treasure NFTs and mine MAGIC tokens.

MAGIC was launched in September 2021 by the founders of Treasure: John Patten, Gaarp, and Karel Vuong. It is intended to become increasingly scarce over time as more players join the ecosystem. As of January 2023, the circulating supply of MAGIC was 211,674,541 out of a maximum supply of 347,714,007 coins.

MAGIC's price history and predictions

MAGIC is the utility token of Treasure, a decentralised gaming ecosystem built on Arbitrum. MAGIC tokens are used in gameplay, governance, buying and selling NFTs on the Treasure marketplace, and can also be staked. MAGIC was launched in September 2021 and is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework.

MAGIC's price history has been volatile. When it first entered the market in November 2021, it opened at $0.2073 and closed the year at $2.24. It reached an all-time high of $6.32 in February 2022 before sliding to $2.92 following Russia's invasion of Ukraine. The token saw a brief resurgence in early April, reaching a periodic high of $3.94, but then declined again, falling to $0.2136 in June.

MAGIC saw some recovery in early November 2022, breaking past $0.50, but then tumbled to $0.2283 following the collapse of the FTX crypto exchange. The announcement that Coinbase would add support for MAGIC gave it a boost, and by 16 December 2022, it was worth about $0.68. As of August 2024, MAGIC is valued at $0.3274, which is 94.14% below its all-time high.

MAGIC price predictions for the future vary. CoinCodex estimated that the token could fall to $0.603408 by 21 December 2022 and then rise to $0.6559 by 15 January 2023. CoinArbitrageBot took a more positive stance, suggesting that MAGIC could reach $1.43 in 2023, $2.54 in 2024, $4.11 in 2025, and just under $6.66 by 2026. DigitalCoinPrice predicted that MAGIC could be worth $0.79 in 2023, $1.64 in 2024, $2.29 in 2025, and continue to increase over the following years, reaching $12.73 in 2031. On the other hand, WalletInvestor predicted a challenging year for MAGIC, forecasting that it could plummet to $0.1031 by 16 December 2023.

MAGIC's market cap and value

MAGIC is the utility token of Treasure, a decentralised gaming ecosystem built on Arbitrum. It is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework. It is used for trading in-game NFTs on Treasure and also functions as a reserve currency for the Treasure metaverse.

MAGIC was launched in September 2021 and is intended to become increasingly scarce over time as more players join the ecosystem. As of January 2023, the circulating supply of MAGIC was 211,674,541 out of a maximum supply of 347,714,007 coins. The current circulating supply is 265 million.

The current market cap of MAGIC is $98.09 million, with a 24-hour trading volume of $25.4 million. MAGIC is currently valued at 94.14% below its all-time high of $6.32.

Market cap refers to the total market value of a cryptocurrency's circulating supply. It is calculated by multiplying the current price of the token by its circulating supply. A high market cap implies that the asset is highly valued by the market.

MAGIC's value increased in early November 2022, but the collapse of the FTX exchange caused it to tumble to $0.2283 by November 22. News of Coinbase adding support for MAGIC gave it a boost in December 2022, and it was worth about $0.68 by December 16. At the time, there were over 207 million MAGIC tokens in circulation, giving it a market cap of about $140.6 million and making it the 146th largest crypto by that metric.

As of August 2024, MAGIC is listed on several major cryptocurrency exchanges, including Binance, Coinbase Exchange, Uniswap, and Bitget.

MAGIC's availability on exchanges

MAGIC is the utility token that connects gaming communities in the Treasure Metaverse, a decentralised NFT ecosystem built on Arbitrum, a Layer 2 scaling solution for Ethereum. It is the native token of Treasure and can be traded on centralised crypto exchanges.

As of January 2023, MAGIC is listed on a variety of exchanges, including:

• Binance
• Coinbase Exchange
• Uniswap (V2 and V3)
• SushiSwap
• Gate.io
• OKX
• Bybit
• Bitget
• MEXC
• LBank
• CoinEx
• BitMart
• BTCEX
• BitForex

The most popular exchange to buy and trade MAGIC is LBank, where the most active trading pair is MAGIC/USDT, with a trading volume of $758,134.42 in the last 24 hours. Other popular options include Binance and Bitget.

MAGIC is also available on Coinbase's centralised exchange.

MAGIC's advantages and disadvantages

MAGIC is the utility token of Treasure, a decentralised gaming ecosystem built on Arbitrum, which is a Layer 2 scaling solution for Ethereum. MAGIC is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework.

Advantages of MAGIC

• MAGIC is the official currency of the Treasure ecosystem, which integrates DeFi, NFTs, and gaming.
• MAGIC tokens can be used in various games, including Bridgeworld and other games hosted on the Treasure platform.
• MAGIC can be staked in the Atlas Mine to participate in the governance of the Treasure platform.
• MAGIC tokens can be used to transform Treasure NFTs into productive assets.
• More established gaming communities can use MAGIC to help develop new or emerging projects.
• MAGIC can be earned by gaming, mining, and participating in games hosted on the Treasure platform.
• MAGIC is available on several popular cryptocurrency exchanges, including Binance, Coinbase Exchange, and Uniswap.

Disadvantages of MAGIC

• MAGIC is a relatively new cryptocurrency, having launched in September 2021, and its price has been volatile.
• The Treasure platform and MAGIC are operated by a decentralised autonomous organisation (DAO), which may put off potential investors who want more transparency and accountability.
• The price of MAGIC has been declining recently and is currently valued at 94.14% below its all-time high.
• The market for metaverse and NFT-related cryptocurrencies is highly competitive, and it is uncertain if MAGIC can sustain its recent resurgence in the long run.

Frequently asked questions