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The protocol migrated from Ethereum to the second-tier network in October 2021, and officially launched Treasure DAO in November 2021. Treasure was built around the empowerment of MAGIC and opened its narrative as a blockchain game platform. Crypto world "Nintendo". As the head project of GameFi, how is its ecological development so far?

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1. Products

TreasureDAO currently has three main products:

1) TroveMarket, which provides market trading services for NFT assets in games or metaverse projects in the Treasure ecosystem;

3) MagicSwap, a DEX that provides liquidity for game assets in the Treasure ecosystem.

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Data Sources:Dune Analytics

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At present, Treasure has around 700 weekly active users. Looking at the changes in its active user data:

1) From January to June 2022, a series of new products such as BridgeWorld, Smolverse game system and NFT trading platform will be released, making the development of Treasure ecology gradually on track.

2) From November to December 2022, the pixel-style Free 2 Play action role-playing game The Beacon once again set off a boom in the Treasure ecology. The game mechanism is very simple, mainly including customs clearance, answering questions, buying and selling props, etc.

On the whole, Treasure's current ecologically active users are in a state of decline, which tends to be consistent with the overall trend of the GameFi track. TroveMarket, as the NFT trading service market in Treasure, and the BridgeWorld game ecosystem are the core active places for users, and Magicswap has relatively few active users.

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2. NFT trading volume

Trove is the main trading place for NFT, currently built on the three chains of Arbitrum, Arbitrum Nova, and Ethereum. The market was launched in June 2022 and evolved from the Treasure Marketplace launched by Treasure DAO in November 2021.Dune Analyticsin accordance with

According to the data, Trove's current monthly NFT transaction volume on Arbitrum is around 460,000 MAGICs (worth about $320,000). The peak transaction volume reached 42 million MAGIC in January 2022. Since then, the monthly NFT transaction volume has continued to decrease, and the current transaction volume has only reached about 1% of the peak period.

The current monthly transaction volume of NFT on Ethereum is only 5.6 pieces, worth about $9,600, and the monthly transaction volume during the peak period was 101.58 pieces, worth about $170,000.

In the past 90 days, the Collection with the largest trading volume was Treasures, with a trading volume of 750,000 MAGICs, followed by Smol Brains, with a trading volume of 490,000 MAGICs, and the third largest trading volume was Consumables, with a trading volume of 320,000 MAGICs. The NFT floor price rose from 0.0038 MAGIC to 0.007 MAGIC within 90 days, an increase of 84%.

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source:Treasure official website

1.Bridgeworld

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Bridgeworld is a strategic business, trade and domination game upgraded from the original chain game Legions, and it is also the core game launched by the Treasure DAO team. Bridgeworld combines a variety of gameplays. Players can purchase legions to complete tasks and obtain various NFT rewards during the mission. NFT rewards can be sold for native token MAGIC, or synthesized into more complex NFT for mining.

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Judging from historical data, the floor price of Treasure has been around 8 MAGIC for a long time, with little change and small trading volume.

2.Realm

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The current total transaction volume of Realm NFT has reached 1.3 million MAGIC. Although there has been a relatively large increase in the past 90 days, from the perspective of the overall trend, it is still at a relatively bottom state, and the transaction volume is small.

3.Smolverse

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Smolverse is a native NFT project on TreasureDAO. Free minting will start in October 2021. The project consists of 2 core NFT series, namely Smol Bodies and Smol Brains, which can be divided into Moon Rock, Stardust, Comet Shard, Lunar Gold, Alien Relic. The current gameplay is relatively simple. Players only need to own Smol Brains, and then stake them on the Smolverse official website. The longer the stake, the higher the IQ of Smol. IQ determines the activities that players can carry out in the metaverse in the future. At the same time, players Smol Treasure can also be mined through Smol Brain.

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source:Trove market

4.The Beacon

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The Beacon is an RPG (role-playing) game with a dungeon adventure as the background. At present, modes such as single-player battle, multi-player battle, and house system have been developed. Game revenue is various NFT props, such as skin accessories, decorative accessories, etc.

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source:Trove market

5.BattleFly

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Trove market

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source:Dune Analytics

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3. Token release

The distribution of MAGIC tokens is as follows:

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Source: First Class Warehouse

According to Coingecko data, the current total token supply is 339,645,510, and the circulating tokens are 217,195,443, accounting for about 64%. The information disclosed so far:

1) Team tokens and genesis mining rewards are all unlocked.

2) On September 1, 2022, the staking mining rewards will be halved for the first time, and the weekly release will be reduced from about 778,000 to 417,000.

3) The tokens of the first round of financing have not been fully unlocked, and the tokens of the second round of financing have not yet begun to be unlocked.

4) The two-year Sushi LP incentive will be voted to reduce the reward by 30% in January 2023, which is expected to change from the original 2,775,000 to 1,942,500.

MAGIC adopts the method of high circulation in the early stage + subsequent output is halved every year to release tokens. According to the original release curve, relatively speaking, the inflation in the later period is not particularly large. However, for the long-term development of the project, the release of tokens can be better aligned with the growth of the network, so TreasureDAO announced in January 2023 that it will abandon the liquidity mining Atlas Mine in stages, so the MAGIC originally staked in the mine will be take out.

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source:Honeycomb

4. Recent activities

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1. Othkeeper's Insignia minted

On June 13th, the Knights Of The Ether (KOTE) fantasy card battle game launched the Oathkeeper Medal casting event. The total number of medals is 1,500, of which 80 are reserved for the team, and 1,420 are for public sale at a cost of 150 MAGIC.

Holding an Oathkeeper Medal not only increases Blightfell in-game damage, but also grants you a Bridgeworld Ancient Permits as well as epic prizes and additional Ancient Permits in Weekly Challenges. Medals are available from June 21st to December 21st.

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source:KOTE official website

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2. The new game Kaiju Cards will be launched

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source:Twitter

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Summarize

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TreasureDAO and even the entire GameFi track are still in the original play to earn mode. There is no good economic model to extend the life cycle of game projects. In addition, GameFi games are not very playable, which leads to poor user stickiness. In addition, the current market conditions are not good, and the game's daily activity and transaction volume have dropped sharply. Without the blessing of incentive activities, the game track is basically a wasteland, and no one cares about it.