## What Is Magic (MAGIC)?

MAGIC is the utility token that connects gaming communities in the Treasure Metaverse: a decentralized [NFT](https://coinmarketcap.com/alexandria/glossary/non-fungible-token) ecosystem which sits on [Arbitrum](https://coinmarketcap.com/alexandria/article/what-is-arbitrum), one of [Ethereum’s](https://coinmarketcap.com/currencies/ethereum/) [Layer 2](https://coinmarketcap.com/alexandria/glossary/layer-2) scaling solutions.

MAGIC is a cross-game currency that connects games, players, metaverses, and communities, all within [Web 3.0](https://coinmarketcap.com/alexandria/glossary/web-3-0). The token was launched in September 2021 so its community could buy and sell in-game NFTs on Treasure. It also acts as a reserve currency for Treasure’s metaverse. 

Players can earn MAGIC tokens by gaming, mining, and participating in [Bridgeworld](https://trove.treasure.lol/games/bridgeworld), Treasure’s flagship game. Treasure now hosts twelve other games on its platform, some of which allow you to use and generate MAGIC tokens like in Bridgeworld. These include [Beacon](https://trove.treasure.lol/games/the-beacon), a free-to-play fantasy action rogue-lite RPG; and [Realm](https://trove.treasure.lol/games/realm), a world-building and exploration game. 


## Who Are the Founders of Magic?

Treasure, the platform served by MAGIC, was established by three co-founders: John Patten (Strategy), Gaarp (Growth), and Karel Vuong (Operations). Not much is known about the team’s experience prior to launching Treasure. 

Treasure and $MAGIC are operated by a [decentralized autonomous organization](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao) (DAO), which consists of 36 community contributors. The DAO’s team members include experienced developers, product managers, economists, creative marketers, artists, and many enthusiastic gamers.

## What Makes Magic (MAGIC) Unique?

MAGIC is the official currency of the Treasure ecosystem. It acts as a cross-metaverse currency that links together separate gaming communities. It was designed to become increasingly scarce over time as more players join the ecosystem. 

You can earn and use MAGIC tokens in Bridgeworld, Treasure’s flagship game, and in Treasure’s twelve other games. You can also stake MAGIC tokens in the Atlas Mine in order to help govern the Treasure platform. 

Treasure is a community-driven gaming project: small gaming communities are at the center of its ecosystem. Each smaller gaming community is “connected through lore, guilds, resources, and MAGIC.” These separate communities can trade NFTs and collaborate using MAGIC tokens. More established communities can, for instance, use MAGIC to help develop new or emerging projects.

Treasure integrates DeFi, NFTs and gaming into its ecosystem as three separate elements: there’s MAGIC, the cross-game digital currency; Treasures, which are in-game NFT items; and Legions, the platform’s in-game NFT characters. MAGIC tokens let you transform Treasure NFTs into productive assets, and Legions help you earn Treasure NFTS and mine MAGIC tokens. 


### Related Pages:

Read about [Adventure Gold (AGLD)](https://coinmarketcap.com/currencies/adventure-gold/).

Read about [Axie Infinity (AXS)](https://coinmarketcap.com/currencies/axie-infinity/) and [CryptoZoon (ZOON)](https://coinmarketcap.com/currencies/cryptozoon/).

Check out the ultimate guide to the Arbitrum ecosystem by [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-arbitrum-the-ultimate-guide-to-the-arbitrum-ecosystem).

Learn more about non-fungible tokens (NFTs) with [CMC glossary](https://coinmarketcap.com/alexandria/glossary/non-fungible-token).

CoinMarketCap takes a deep dive into [GameFi](https://coinmarketcap.com/alexandria/article/what-is-gamefi-gafi).


## How Many Magic (MAGIC) Coins Are There in Circulation?

$MAGIC is an [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token with a maximum supply of 347,714,007 coins. It’s a deflationary token whose holders can vote on governance matters in the Treasure ecosystem.

MAGIC was distributed at the following ratios:

Treasure Farm: 33%

Extraction (Mining): 25%

Staking / Liquidity: 17%

Ecosystem Development Fund: 15%

Team / Contributors: 10%

As of January 2023, MAGIC’s circulating supply is  211,674,541 / 347,714,007 (61%). 


## How Is the Magic Network Secured?

Treasure and MAGIC were built on [Arbitrum](https://coinmarketcap.com/alexandria/article/what-is-arbitrum-the-ultimate-guide-to-the-arbitrum-ecosystem), a layer-2 scaling solution which sits on Ethereum. MAGIC is therefore secured by Ethereum’s [Layer-1](https://coinmarketcap.com/alexandria/glossary/layer-1-blockchain) [proof-of-stake](https://coinmarketcap.com/alexandria/glossary/proof-of-stake-pos) (PoS) [consensus mechanism](https://coinmarketcap.com/alexandria/glossary/consensus-mechanism).


## Where Can You Buy Magic (MAGIC)?

As of January 2023, MAGIC is listed on [Binance](https://coinmarketcap.com/exchanges/binance/), [Coinbase Exchange](https://coinmarketcap.com/exchanges/coinbase-exchange/), [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/) and [Uniswap (V3)](https://coinmarketcap.com/exchanges/uniswap-v3/), [SushiSwap](https://coinmarketcap.com/exchanges/sushiswap/), [Gate.io](https://coinmarketcap.com/exchanges/gate-io/), [OKX](https://coinmarketcap.com/exchanges/okx/), [Huobi](https://coinmarketcap.com/exchanges/huobi/), [Bybit](https://coinmarketcap.com/exchanges/bybit/), [Bitget](https://coinmarketcap.com/exchanges/bitget/), [MEXC](https://coinmarketcap.com/exchanges/mxc/), [LBank](https://coinmarketcap.com/exchanges/lbank/), [CoinEx](https://coinmarketcap.com/exchanges/coinex/), [BitMart](https://coinmarketcap.com/exchanges/bitmart/), [BTCEX](https://coinmarketcap.com/exchanges/btcex-exchange/) and [BitForex](https://coinmarketcap.com/exchanges/bitforex/).

Want to keep track of MAGIC prices live? Download the [CMC mobile app](https://coinmarketcap.com/mobile/).

What are the top NFT games? Find out with [CMC Alexandria](https://coinmarketcap.com/alexandria/article/top-nft-games).

Binance

Treasure

Arbitrum

ArbDoge AI

Vertex Protocol

GTA Token

BullBear AI

Fluid USDC

$GAME Token

Zyberswap

Camelot Token

Bitcoin XT

xPET tech

Reboot

Aperture Finance

Avive World

Hydranet

Crypto Unicorns

Wall Street Games

HIPPOP

GMX is a decentralized exchange (DEX) for trading perpetual cryptocurrency futures with up to 50X leverage on popular cryptocurrencies like BTC, ETH and more. The platform launched in September 2021 as Gambit Exchange. To date, GMX has a total trading volume of over $130B and 283K total users, making it the leading derivatives DEX on Arbitrum and Avalanche.

GMX runs on the Arbitrum and the Avalanche blockchain. These ecosystems are connected to the exchange via Synapse — a cross-chain bridge.

Radiant Capital

Mask Network is a protocol that allows its users to send encrypted messages over Twitter and Facebook. It essentially acts as a bridge between the internet and a decentralized network running on top.

Mask Network was initially launched in July 2019, with its first use case of allowing Facebook and Twitter users to encrypt posts on the social media platforms. It then raised $2 million in a funding round in November 2020, co-led by HashKey and Hash Global, and a further $3 million funding round in February 2021 with participation from Digital Currency Group and Fundamental Labs.

Now, Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, as well as plans to offer peer-to-peer payments and decentralized storage functionality. It is a decentralized portal that also allows users to use DApps like crypto payments, decentralized finance, decentralized storage, e-commerce (digital goods/NFTs) and decentralized organizations (DAO) over the top of existing social networks without migrating, creating what is referred to as a decentralized Applet (DApplet) ecosystem.

Mask Network

Immutable positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security.

Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable, stated that Immutable allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable aims to create a world-class experience for users and developers alike.

Immutable

Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.

Optimism is one of the biggest scaling solutions for Ethereum with over $500 million in TVL. It is home to 97 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token.

Optimism

Illuvium is an open-world fantasy battle game built on the Ethereum blockchain. Often touted as the first AAA game on Ethereum, Illuvium looks to provide a source of entertainment to both casual gamers and hardcore DeFi fans through a range of collecting and trading features.

To learn more about this project, check out our deep dive of Illuvium.

The world of Illuvium is inhabited by creatures known as Illuvials, who can be captured by players that best them in battle and nurse them back to health. From then on, they become a loyal part of the player’s collection and can be used when battling other adventurers as part of Illuvium’s auto battler gameplay.

The game is a fusion between an open-world exploration game and a PVP battle game. Players can spend their time exploring the expanses of the game world or building up their team of powerful beasts.

Illuvium has been in development since 2020, and is being built by a worldwide team of more than 40 individuals, including the co-founders; serial entrepreneur and early cryptocurrency adopter Kieran Warwick, and experienced game designer Aaron Warwick, who are brothers. (And who are coincidentally also the brothers of Kain Warwick, the co-founder of DeFi platform Synthetix).

The ILV token has a number of uses within the Illuvium ecosystem. It’s the main token used to reward players for their in-game achievements, entitles players to their share of the Illuvium Vault and is used for participating in the governance of the game via the Illuvium decentralized autonomous organization (DAO).

Illuvium

Arbitrum is an Ethereum layer-two (L2) scaling solution. It uses optimistic rollups to achieve its goal of improving speed, scalability and cost-efficiency on Ethereum. Arbitrum benefits from the security and compatibility of Ethereum. Another benefit is the higher throughput and lower fees compared to Ethereum. That is made possible thanks to moving most of the computation and storage load off-chain.

Arbitrum’s native token is called ARB and is used for governance. Offchain Labs, the developers behind Arbitrum, announced the shift to a decentralized autonomous organization (DAO) structure — the Arbitrum DAO. ARB holders can vote on proposals that affect the features, protocol upgrades, funds allocation and election of a Security Council.

Arbitrum has an ambitious roadmap for 2023, which includes: Launching its own layer-three solution called Orbit; Enabling developers to deploy programs written in popular programming languages like Rust, C++, and more using Stylus; Expanding its validator set to include more independent institutional validators; Moving its protocol to layer two with Arbitrum One.

On March 16, 2023,  Arbitrum announced their highly anticipated airdrop of ARB. The token will be airdropped to early users and DAOs building on Arbitrum, with 12.75% of the total supply to be distributed. Recipients were rewarded on a point-based system depending on their interaction with the Arbitrum network until a cutoff date of March 1, 2023. The token generation event is on March 23, 2023.

BLUR is the native governance token of Blur, a unique non-fungible token (NFT) marketplace and aggregator platform that offers advanced features such as real-time price feeds, portfolio management and multi-marketplace NFT comparisons. It claims to have faster NFT sweeps, and a more intuitive interface than other comparable platforms.

As a result, many professional NFT traders increasingly prefer to use Blur for their trading activities — although it may be due to incentives like the recent airdrop of 360 million BLUR tokens — worth around $355M at the time of writing. It is an Ethereum-based platform that has raised over $14m from world class investors and traders including Paradigm, 6529, Cozomo Medici, dhof, Bharat Krymo, Zeneca, OSF, MoonOverlord, icebergy, Deeze, Andy8052, Keyboard Monkey and many more.

BLUR came to prominence after launching in October 2022, when it promised airdrops of BLUR tokens to the top platform users.

Blur

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is open-source, permissionless, and entirely on-chain – currently implemented on Ethereum (with possible cross chain implementations in the future). The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC. The protocol incorporates the following concepts:

Fractional-Algorithmic – Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The ratio of collateralized and algorithmic depends on the market's pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

Decentralized & Governance-minimized – Community governed and emphasizing a highly autonomous, algorithmic approach with no active management.

Fully on-chain oracles – Frax v1 uses Uniswap (ETH, USDT, USDC time-weighted average prices) and Chainlink (USD price) oracles.

Two Tokens – FRAX is the stablecoin targeting a tight band around $1/coin. Frax Shares (FXS) is the governance token which accrues fees, seigniorage revenue, and excess collateral value.

Before Frax, stablecoins were divided into three different categories: fiat collateralized, overcollateralized with cryptocurrency, and algorithmic with no collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.

Frax Share

SingularityNET is a blockchain-powered platform that allows anybody to easily "create, share, and monetize" AI services, thanks to its globally-accessible AI marketplace.

Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token — AGIX. Moreover, the marketplace represents an outlet AI developers can use to publish and sell their AI tools, and easily track their performance.

With the benefits of LLMs and generative AI are increasingly exciting, their limitations are also becoming increasingly apparent. The convergence of structured knowledge with neural networks is emerging as the key to overcoming their shortcomings.

Uniquely positioned at the heart of this convergence, SingularityNET will prioritize the integration of Knowledge Graphs (KGs) and comprehensive Neural Symbolic tools for LLMs, with the goal of empowering developers to create the next generation of AI systems on the SingularityNET Platform.

SingularityNET is strategically positioned to become the Knowledge Layer of the Internet, leading the evolution of the emerging AI landscape while also laying the foundations for the Artificial General Intelligence (AGI) of tomorrow.

The team behind SingularityNET pioneered the development of an AI known as Sophia, which is described as the "world's most expressive robot". SingularityNET’s goal is to enable Sophia to be able to fully understand human language, and continue developing “OpenCog” — an AI framework that is hoped to eventually achieve a state known as “advanced general intelligence,” i.e. human-level artificial intelligence (or beyond).

The platform was first announced in 2017 and completed an initial coin offering (ICO) in December the same year, raising $36 million in just one minute.

SingularityNET

Ocean Protocol

Gains Network

Aptos is a Layer 1 Proof-of-Stake (PoS) blockchain that employs a novel smart contract programming language called Move, a Rust-based programming language that was independently developed by Meta (formerly Facebook)’s Diem blockchain engineers.

Aptos’s vision is a blockchain that brings mainstream adoption to web3 and empowers an ecosystem of DApps to solve real-world user problems.

The PoS blockchain can achieve a theoretical transaction throughput of over 150,000 transactions per second (tps) through parallel execution.

In March 2022, Aptos raised $200 million in a seed round led by the venture capital firm Andreessen Horowitz (a16z). Other crypto heavyweights like Tiger Global and Multicoin Capital took part in the funding round. Fast forward to July, the startup raised another $200 million in a Series A round with participation from Dragonfly, Apollo Global, Franklin Templeton, Animoca, Jump Crypto and others.

Two months later, Binance Labs made a strategic investment of an undisclosed amount in Aptos.

On Oct. 18, 2022, Aptos announced the mainnet launch, while the Aptos genesis occurred on Oct. 12, 2022.

Aptos

Lido DAO is a decentralized autonomous organization (DAO) which provides staking infrastructure for multiple blockchain networks.

Most notably, the platform provides a liquid staking solution for Ethereum, allowing users to stake their ETH and receive stETH (Lido staked ETH) tokens in exchange, which represent the user's staked ETH and staking rewards.

Lido DAO is secured by a mix of decentralized governance, audited code and smart contracts. The Lido protocol runs on Ethereum with help from smart contracts that process user deposits and distribute staking rewards, among other functions. Several third-party security firms have audited Lido’s smart contracts in order to identify and address potential vulnerabilities.

The platform’s native token is LDO - which also serves as the governance token for Lido DAO. Holders can participate in governance proposals and vote on key decisions such as board adjustments, new integrations and platform updates. LDO holders have the right to determine the development and operation of the platform.

Lido currently supports staking for Ethereum and Polygon only with the recent sunsetting of Solana.

Lido DAO

SPACE ID

Mina Protocol is a minimal “succinct blockchain” built to curtail computational requirements in order to run DApps more efficiently. Mina has been described as the world’s lightest blockchain since its size is designed to remain constant despite growth in usage. Furthermore, it remains balanced in terms of security and decentralization. The project was rebranded from Coda Protocol to Mina in October 2020.

To learn more about this project, check out our deep dive of Mina Protocol.

The Mina network has a size of only 22 KB, which is miniscule when compared to Bitcoin’s 300 GB blockchain.

Mina

ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.

ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.

ApeCoin

RenderToken (RNDR) is a distributed GPU rendering network built on top of the Ethereum blockchain, aiming to connect artists and studios in need of GPU compute power with mining partners willing to rent their GPU capabilities out. Conceived in 2009 by OTOY, inc. CEO Jules Urbach and launched in 2017, RNDR held its first public token sale in October of that same year, followed by a private sale period lasting from January 2018 – May 2018, wherein a total of 117,843,239 RNDR were sold at a price of 1 RNDR = $0.25 USD equivalent of token.
During the private sale period, early adopters were onboarded onto the RNDR Beta Testnet, where beta node operators and artists worked collaboratively with the RNDR team in building and testing the network, up until its public launch on April 27th 2020.

Render

Galxe is the world's leading Web3 credential data network and was launched on April 28, 2022, on Binance Launchpool.

Galxe is built on open and collaborative infrastructure that allows Web3 developers and projects to profit from credential data by building better products and communities.

Data curators are rewarded when users employ their credentials in Project Galaxy's Application Modules, Credential Oracle Engine and Credential API at the same time.

Galxe

Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.

Moonbeam is much more than just an EVM implementation: it’s a highly specialized parachain that mirrors Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. The Moonbeam platform extends the base Ethereum feature set with additional features such as on-chain governance, staking, and cross-chain integrations.

Moonbeam’s Ethereum compatibility is unmatched:

Minimal Changes: developers can use existing Solidity smart contracts right away, with no need to rewrite or reconfigure

Use Existing Developer Tools: connect popular tools like MetaMask, Hardhat, Waffle, Remix, and Truffle via a complete set of Web3 RPC endpoints. Use well-known Javascript libraries such as Web3.Js or Ethers.Js.

Unified Accounts, Addresses, and Signatures: use your existing Ethereum H160 accounts & ECDSA signatures to interact with Moonbeam

Tap into the Most Integrations on Polkadot: use existing oracles, bridges, wallets, and other tools that are already building on Moonbeam

Moonbeam provides integration and connectivity between Polkadot Parachains as well as with other chains such as Ethereum and Bitcoin via bridges. Moonbeam was started in 2019 by Derek Yoo of Pure Stake.