First Major player in the NFT space on the Arbitrum Ecosystem
Own Ecosystem including P2E opportunities
One of the most exciting and interactive NFT Marketplaces
Very attractive reward systems
Treasure Marketplace is the newest addition to the Treasure ecosystem, What sets it apart from competitors, like Open Sea, is the fact that it has launched on the Arbitrum network. Treasure revolves around rewarding its users through innovative methods of play-to-earn, free mints, airdrops and plenty more. It's safe to say that the Treasure Marketplace is only just getting started. metaverse
Given the recent congestion on the Ethereum main net, a few layer 2 solutions have been proposed.
Why is that, you may ask? The reason is GWEI!
Arbitrum is one of these Layer 2 solutions. Users are able to bridge over using Hop Protocol to use the network without having to worry about costly and slow gas transactions.
Treasure has managed to establish itself on Arbitrum over the short period since its initial launch. It has also encouraged adoption of the network for people new to the space via free-to-claim NFTs, which are rewarded to users simply for their use of Arbitrum.
Many users who have bridged over for the first time have ended up staying, this is a result of the positive experience they’ve had with the marketplace and the endless surprises from the team/community. All that and Gas-friendly prices to interact on chain!
The “Treasure Project” is comprised of a randomized set of 8 words on the Ethereum blockchain. Each word has a scarcity, which represents the “rarities” and only 9,000 total sets exist. After the project’s initial sell out, and through developing traction over time, Treasure Project has been able to establish a DAO (Decentralized Autonomous Organization.) The DAO, which revolves around the Treasure Project, has contributed to building a community interested in longevity and growth, as demonstrated by the recent migration to Arbitrum.
Treasure Marketplace was developed by @jpatten and @yyyy with core members from the community referred to as the “Treasure Council.” Treasure has created its own ecosystem in the form of a coin called $MAGIC. This is the core currency used to purchase and sell NFTS on the marketplace and it forms the key element in some of the play-to-earn mechanics.
Once you are on the Arbitrum network, there are a few ways to obtain $MAGIC. Treasure is actively developing innovative pathways for users to earn $MAGIC through fun and unconventional means. Some methods of earning $MAGIC have been listed below.
https://twitter.com/Treasure_NFT/status/1466476037949304836
Once you have used HOP protocol to bridge your currency of choice, you are able to directly swap using a decentralized exchange, such as Sushiswap. Once you have swapped, you are able to interact with the marketplace using your $MAGIC.
https://www.coingecko.com/en/coins/magic
Users were able to migrate their “Treasure Project” to Arbitrum resulting in it getting dispersed into 8 NFTS, with each NFT representing one of the words in your bag.
As the Treasure project is the origins of the marketplace and the motif behind the marketplace, it has been hinted that they will have a more important role within the ecosystem, relating to how users can interact and earn rewards. While there have been some hints regarding “quests”, emerging from user speculation regarding the use of the Treasure NFTs to potentially participate in games for $MAGIC as bounty, much of the utility behind these NFTs have yet to be revealed...
You are currently able to purchase individual loots from the Treasures marketplace. Their may be future opportunities to migrate from Mainnet,
Single Sided Staking -
“The Treasure economy hinges on MAGIC staking. The more magic that has been staked, the more MAGIC that is emitted from the mine.”
$MAGIC represents the gears that power the Treasure ecosystem. Consequently, there are a few mechanics to incentivize users to stake their $MAGIC to earn additional rewards.
To single side stake, you have the option to lock in your $MAGIC for 2 weeks at a current 120% boost, or alternatively, 150% boost for a one month lock up. This reward system only functions when the locked up supply(mine) is at maximum output, which is above 60% of the circulating supply locked up, The mine would power down if the circulating supply drops below 20%. Currently 80% of Magics’ circulating supply is locked. (probably nothing)
Another perk of Arbitrum is shown here. Staking your $MAGIC requires minimal fees
The NFTS in the marketplace are built around having a core utility function. Different collections on the marketplace each have their own unique functions, some involving direct ways of boosting your $MAGIC yield, while others act as more passive income generators.
Some of the biggest drops on Treasure have been totally free, illustrating how community driven the project is and further establishing the Treasure Project as one of the first marketplaces to actively reward their users and investors
The most recent drop that has taken a big leap towards mass adoption, both to Arbitrum and the marketplace, has been “Smol Brains” a fun, play-to-earn NFT that can be staked to “earn IQ”, which results your monkey’s head evolving and growing in size. Additional mechanics that will be introduced in the near future will also include ways to farm $MAGIC.
To be legible to claim this drop, the Smol Brains community was simply encouraged to submit a drawing of their version of a Smol brain to pass a captcha test. Users that completed this task were entitled to claim of 3 NFTS for free. Since their initial launch, these NFTs have traded over 5 million $MAGIC (1000 Eth) in volume in the last couple weeks alone.
https://twitter.com/steviespeaks/status/1468400496453066754?s=21
Treasure started as an ambitious and innovative project that has not stopped delivering to their community and holders. So far, the teams involved have announced free mints & airdrops coming to holders and unique plans to incentivize rewarding users for holding and believing in their ecosystem.
As we lean towards more mass adoption and layer 2 networks become more prominent in the space, I believe the Treasure project will be a big player in the NFT/ Gaming marketplace. With plans to expand into the Metaverse, huge partnerships being announced, and a whole interactive play-to-earn world coming to its users, Treasure Project is definitely something to keep your eye on.
https://discord.com/invite/CzRPER6S5K