Magic crypto (MAGIC) is a relatively new project that aims to bridge the growing network of metaverses through an open and composable approach to converging NFTs, DeFi, and gaming. This article will explore the origins, profitability, price journey, current price analysis, and future of this innovative token.
Origins
Magic crypto was launched in 2021 by Treasure, a team of developers and designers who share a passion for creating immersive and engaging digital experiences. Magic crypto is the native token of Treasure and its flagship product, Bridgeworld.
Bridgeworld is an undercurrent world beneath the undulating waves of other worlds. It is a place where players can take control of Legions, fallen bodies from myriads of other worlds, and mine, farm, craft, quest, battle, and more to propagate and build the Bridgeworld together.
Profitability
Magic crypto is designed to be a utility token that powers the Treasure ecosystem and its products. It has three main functions: Power, Treasures, and Legions.
Power is the energy source that fuels all activities in Bridgeworld and other connected metaverses. Users can stake MAGIC tokens to generate Power or use Power to perform various actions such as mining, farming, crafting, and more.
Treasures are NFTs representing resources, items, artifacts and collectibles that can be found or created in Bridgeworld and other metaverses. Users can use Power to mint Treasures or trade them with other users for MAGIC tokens or other assets.
Legions are NFTs that represent the bodies that players can control in Bridgeworld. Users can use Power to summon Legions or trade them with other users for MAGIC tokens or other assets.
By staking, minting, trading and using MAGIC tokens, users can earn profits from their participation in the Treasure ecosystem and its products.
Price Analysis
Magic crypto was initially launched on Binance Smart Chain (BSC) in October 2021 with an initial supply of 339.65 million tokens. It was listed on several decentralized exchanges such as PancakeSwap and BakerySwap with an initial price of around $0.5 per token.
Since then, MAGIC has experienced significant price volatility due to market conditions and project developments. It reached its all-time high of $6.32. Now, MAGIC is trading at $1.44 per token with a market cap of $306 million. It has a circulating supply of 212.46 million tokens and a maximum supply of 347.71 million tokens.
Let’s have a look at the price chart for trend analysis:
Future
Magic crypto has much potential to grow in the future as it aims to bridge the gap between different metaverses and enable users to explore, create and trade across multiple digital worlds using a single token and platform.
Some of the factors that could positively influence MAGIC’s future growth are:
- Its partnership with Hiro Systems PBC to launch Bridgeworld on Stacks blockchain, which could increase its exposure and adoption among Stacks users and developers1.
- Its roadmap is to launch more games and features on its platform, such as Treasure DAO, Treasure SDK, Treasure Launchpad, and Treasure Academy, which could enhance its user experience and engagement2.
However, some of the challenges and risks that could negatively affect MAGIC’s future performance are:
- Its competition with other gaming and metaverse projects, such as Axie Infinity, Decentraland, The Sandbox and Enjin, which could limit its market share and growth potential.
- Its dependence on Ethereum and Arbitrum networks, which could expose it to scalability issues, high gas fees, and security vulnerabilities.
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