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MAGIC is an interesting crypto token to add to your portfolio, especially if you wish to diversify into the metaverse, NFT, and GameFi sectors. As one of the leading metaverse tokens on Arbitrum, MAGIC has good potential for growth as these industry sectors mature.

The MAGIC price could experience an uptrend as more games and metaverse projects launch on Treasure. This could increase engagement among the TreasureDAO community and bring in more users, driving up the demand for the $MAGIC token and increasing its value in the market.

MAGIC’s price could also rise as the crypto market sentiment turns bullish. A positive market sentiment increases investors’ risk appetite and drives up the demand for crypto assets like Treasure’s native token, supporting the price of MAGIC cryptocurrency.

While it is impossible to offer an accurate MAGIC price prediction over any duration, several fundamentals determine price action and volatility in the token. These include:

Level of Adoption

As more developers build gaming and metaverse projects to launch on Treasure, the value of MAGIC crypto could increase. Adding new offerings contributes to higher demand for the token, boosting the MAGIC price statistics.

Use Cases for MAGIC Token

When TreasureDAO votes on proposals to introduce more applications for the MAGIC token, the value of the crypto could increase. Making the crypto more versatile, beyond using it as native currency or for governance, can make it more appealing to hold MAGIC among investors and Treasure community members.

Number of Partnerships and Integrations

When Treasures announces more partnerships with established crypto or mainstream businesses for developing new projects, investor confidence in its token strengthens. Such a sentiment can also power an uptrend in the MAGIC price.

Market Outlook

A positive outlook towards the digital asset market and sectors like metaverse, GameFi, and NFTs also play an essential role in driving the value of MAGIC crypto. On the other hand, a bearish or risk-averse sentiment can weaken the MAGIC token price by causing sell-offs in the market.

$MAGIC is the native crypto asset of the Treasure ecosystem and TreasureDAO. It has the following key use cases:

Native Currency

You need to hold and use MAGIC to play games, compete in quests, buy and mint NFTs, and power them to generate revenue streams. Players can also earn MAGIC by participating in games, mining, and engaging with the Bridgeworld metaverse.

Governance

As a MAGIC token holder, you can join the TreasureDAO and participate in the ecosystem’s decentralized governance mechanism. Enjoy voting rights on proposals or submit new proposals that decide on the future development of Treasure’s decentralized metaverse ecosystem.

Staking

You can stake or lock up your MAGIC holdings Treasure to earn rewards and interest, growing your crypto portfolio. A convenient way to do this is via the Atlas Mine in Bridgeworld.

Crypto Asset to Trade and HODL

Trade MAGIC against other cryptocurrencies to profit from changing market conditions and volatility. You can buy or sell MAGIC crypto or hold it long-term if you believe in the future potential of the Treasure project. Review the current price of MAGIC crypto, current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the MAGIC price chart before trading Treasure’s crypto.

Out of the total supply of around 350,000,000 MAGIC tokens, the circulating supply of MAGIC crypto stands at a little over 212,000,000 as of March 2023.

The token distribution of MAGIC as per the Treasure project’s tokenomics is listed below:

1. 33% of the MAGIC supply was allotted to the Treasure farm.

2. 25% was kept for mining

3. 17% was set aside for staking/liquidity-related activities.

4. 15% of MAGIC tokens went to the Treasure ecosystem fund.

5. 10% of the tokens were distributed to the team of developers.

Treasure has several renowned businesses that it counts as partners and supporters. Some examples include Merit Circle, Jiho Axie Infinity, DeFi Vader, METAT8, Digital Strategies, BlackPool, 1kx, NEON, and more.