Magic (MAGIC) is a utility token that serves as the connective tissue for gaming communities within the Treasure Metaverse, a decentralized NFT ecosystem built on Arbitrum, a Layer 2 scaling solution for Ethereum. Launched in September 2021, MAGIC is a cross-game currency that links games, players, metaverses, and communities within the Web 3.0 framework. It is used for trading in-game NFTs on Treasure and also functions as a reserve currency for the Treasure metaverse. Players may receive MAGIC tokens by gaming, mining, and participating in games hosted on the Treasure platform. The token is intended to become increasingly scarce over time as more players join the ecosystem.

MAGIC operates as the official currency within the Treasure ecosystem, linking separate gaming communities. It is used in Bridgeworld, Treasure's flagship game, and in other games hosted on the Treasure platform. Players can stake MAGIC tokens in the Atlas Mine to help govern the Treasure platform. The Treasure ecosystem integrates DeFi, NFTs, and gaming as three separate elements: MAGIC, the cross-game digital currency; Treasures, which are in-game NFT items; and Legions, the platform's in-game NFT characters. MAGIC tokens allow players to transform Treasure NFTs into productive assets, and Legions help players receive Treasure NFTs and mine MAGIC tokens.

MAGIC tokens have a variety of potential use cases within the Treasure ecosystem. They can be received and used in various games, including Bridgeworld and other games hosted on the Treasure platform. They can also be staked in the Atlas Mine to participate in the governance of the Treasure platform. Additionally, MAGIC tokens can be used to transform Treasure NFTs into productive assets. More established gaming communities can use MAGIC to help develop new or emerging projects. The token's integration into the Treasure ecosystem allows for a wide range of potential use cases, all aimed at enhancing the gaming experience within the metaverse.

MAGIC was launched in September 2021 by the founders of Treasure, a platform that serves the MAGIC token. The founders, John Patten, Gaarp, and Karel Vuong, established Treasure with the aim of connecting gaming communities within a decentralized NFT ecosystem. The Treasure platform and MAGIC are operated by a decentralized autonomous organization (DAO), which consists of 36 community contributors, including experienced developers, product managers, economists, creative marketers, artists, and gamers. The MAGIC token is intended to become increasingly scarce over time as more players join the ecosystem. As of January 2023, the circulating supply of MAGIC is 211,674,541 out of a maximum supply of 347,714,007 coins.

MAGIC distinguishes itself from other projects in the cryptocurrency ecosystem through its unique features and applications. MAGIC is primarily used within the Treasure DAO metaverse game ecosystem, aiming to bring games and players together. It seeks to serve as a bridge between players and Web3 games, fostering a decentralized community of enthusiastic players and builders. The token is used for staking, participating in project governance, and in various game projects. Additionally, MAGIC is utilized for transactions within TroveMarket, an NFT trading service market within the Treasure ecosystem. MAGIC has a distinct token economy design, characterized by a high initial circulation and a planned halving of output annually. The platform provides a Launchpad for NFT project support, potential partnerships, and developer resources, contributing to its role as an NFT marketplace on Solana.

MAGIC plays a crucial role in the development of DApps by providing the necessary infrastructure and tools for transactions that aim to maintain user privacy without the need for intermediaries. With MAGIC, individuals can participate in various DApps protocols, such as lending, borrowing, and trading, directly from their devices, regardless of their geographical location. This accessibility and convenience have opened up new avenues for participation and exploration in the digital asset space. MAGIC also allows for the integration of blockchain technology and smart contracts, which is a key feature in enabling the creation of DApps that power various digital asset activities. Through MAGIC, DApps platforms aim to offer features like automated market making, yield farming, and decentralized exchanges, which provide users with control over their digital assets and aim to provide an alternative to traditional financial institutions.

The token is designed to become increasingly scarce, with emissions declining as the complexity of the ecosystem increases. MAGIC is obtained by players through engagement and participation in the metaverse activities. The token also plays a crucial role in the Treasure ecosystem's proof-of-work model, where players allocate MAGIC and other assets to receive new items. The total supply of MAGIC is 347,714,007 tokens, and future emissions are planned to follow a halving event model, occurring annually instead of every four years. The token is also designed to be deflationary, with certain mechanisms necessitating users to utilize MAGIC to retrieve assets. This tokenomics model seeks to foster a long-term community and a sustainable ecosystem of assets within the metaverse.

Developers can participate in building on the MAGIC platform by utilizing the resources and tools available on the Magic Leap Developer portal. This portal provides access to Software Development Kits (SDKs), API documentation, step-by-step project guides, and code samples. Developers can engage with the platform's community forum for additional support and insights. MAGIC platform fosters a culture of inner-source, enabling developers to create their own repositories and tools, which can enhance innovation and collaboration. The platform provides support for various engines, including C API, Unity, and third-party engines via OpenXR. Developers can build on this open platform, which supports open software standards like OpenGL and Vulkan. MAGIC platform offers an App Simulator system that aims to facilitate app development and iteration.

MAGIC has undertaken several initiatives to foster interoperability within the ecosystem. One of the key initiatives is the integration of Magic's Wallet SDK with ZetaChain, an L1 blockchain that aims to connect all chains, including non-smart contract chains. This integration strives to allow users to create wallets with the provided tools and interact with the ZetaChain network, enabling native access to EVM, Cosmos, and even non-smart contract chains. Another initiative by MAGIC is the introduction of the $SQR Token, a digital asset backed by industry participants. This token seeks to offer a different perspective on the use of digital currencies, providing a new form of digital asset and aiming to pioneer new pathways for blockchain applications and blockchain transactions. These initiatives strive to enhance the user experience, drive adoption, and ensure user retention in the blockchain ecosystem.