In case you have been diving deep to understand the intricacies of crypto and the metaverse, there is a chance you have heard about the MAGIC token. But what exactly is it, and how does it come into focus in an ever-changing environment of decentralized finance, gaming, and NFTs?
Time to explore all you need to know about this interesting token and how it plays its part in the Treasure Metaverse. Let’s go!
What Is MAGIC Token?
MAGIC token is the utility token of the Treasure Metaverse – a decentralized NFT ecosystem dealing with the Arbitrum network. It acts as a connector between various gaming communities, players, and metaverse projects to make a unified experience on Web 3.0. The MAGIC token, released in September 2021, can be used to purchase, sell, and trade in-game NFTs on the decentralized marketplace, Trove, created by Treasure.
In effect, it is like the “currency” binding together what seems like a Treasure City ecosystem of games and metaverses. Being the official currency, it has a unique function that transcends traditional gaming economies, and it is gaining popularity due to its use case and potential for future growth.
As far as the price movement is concerned, the MAGIC token has witnessed an impressive growth of 59.56 % in the past seven days and is currently trading at ₹21.93
How Does MAGIC Token Work?
The purpose of the MAGIC token is to serve as a cross-game currency that will be used throughout numerous games and metaverses, which will help players to communicate with different gaming environments without any difficulty. When you play games, mine, and take part in activities on the Treasure platform, including its flagship game Bridgeworld, you can earn MAGIC. In addition to its application as a source of money, the MAGIC Token has a central role in the leadership of the Treasure platform.
Players are able to stake their MAGIC tokens on the Atlas Mine, a feature that gives them an opportunity to be a part of the governance on the platform and vote on important decisions and future progress. It is a decentralized experience in its truest sense, with the power being given to the community.
What Is The Tokenomics of MAGIC Token?
The allocation of the MAGIC Token is as follows:
- Total Supply: 347,714,007
- Treasure Farm: 31.8%
- Mining: 25.0%
- Ecosystem Fund: 18.5%
- Team: 15.0%
- Staking/ Liquidity: 9.7%
Furthermore, the original design of the MAGIC “Genesis Mine” created uniquely high rewards for users who were willing to lock up their token for longer periods. These users were very instrumental in the liquidity bootstrapping of the ecosystem and contributed a lot towards developing the foundation of the ecosystem.
How To Buy MAGIC Token on SunCrypto?
Purchasing MAGIC Token or any cryptocurrency in India is straightforward, but choosing a reliable exchange is crucial. SunCrypto emerges as a trusted platform in the Indian crypto market, adhering to regulatory standards and providing a secure trading environment. Here’s how you can buy:
- Download the SunCrypto app from the Google Play Store or the Apple App Store. (CLICK HERE)
- Register and complete the KYC process, then link your bank account within the app.
- Deposit INR using IMPS, UPI, or a bank transfer.
- Search for MAGIC in the INR market section and select it.
- Tap the “BUY” button, enter the desired purchase amount, and proceed by clicking “PAY.”
- Enter your MPIN to confirm and complete the transaction.
Once you’ve completed your purchase, you can check your holdings in the portfolio section.
Conclusion
MAGIC Token is not just another crypto; it is the core of a developing ecosystem that ties gaming, NFTs, and decentralized finance within the Treasure Metaverse. No matter if you are a gamer, an NFT holder, or even someone interested in earning opportunities using Web 3.0, this token has quite a lot to offer.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Frequently Asked Questions
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