TreasureDAO: The Nintendo of Web3

TreasureDAO: The Nintendo of Web3

Written by
Johan
Date published
April 13, 2023

Hey you! Do you know that interoperability in Web3 games is coming closer to reality?Well.. at least this is what @Treasure_DAO is working on right now 🧵#TreasureDAO

1/24 @Treasure_DAO is a decentralized video game console/publisher fostering the growth of indie Web3 games. Aspiring to be the "Web3 Nintendo," it empowers devs with resources to create innovative on-chain experiences in a shared ecosystem.

2/24 Treasure's thesis: Unite games & players to forge a dynamic meta-ecosystem, unlocking innovative experiences, open economies, and compound network effects.

3/24 Initially inspired by @lootproject, which championed the bottom-up philosophy, the project aimed to become an integral part of the Loot ecosystem. The bottom-up approach is akin to providing writing prompts and game devs will build fantasy universes around the ideas.

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4/24 Not long after, the team embarked on their own journey, migrating the collections from Ethereum to Arbitrum with the goal of establishing an independent Treasure-verse.

Why Arbitrum? Low gas fee & high security. More details 👇

5/24 Five key pillars driving the vision of a decentralized video game console:Credit: @Delphi_Digital

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6/24 🏦Pillar 1: TreasureDAOThe DAO aims to bootstrap decentralized metaverses driven by community-written stories.Governed by $MAGIC holders, it allows people to vote on Treasure's future developments, incentive allocations and new games bootstrapping initiatives.

7/24 🕹️Pillar 2: Cartridges

Games plugging into Treasure's ecosystem are called "Cartridge," similar to the iconic plastic cartridges from the Nintendo 64 days.

Approx. 30+ cartridges from both in-house and third parties are now showcased on Trove (Treasure's marketplace).

8/24 ✨Pillar 3: MAGICAs more projects join Treasure, the $MAGIC token serves as the unifying factor connecting metaverses, users, and assets.Third-party teams can integrate $MAGIC into their game economies and lore, with many on Trove already utilizing the token.

9/24 $MAGIC emissions support projects via funding & attention. The DAO votes on allocation, steering focus across games.As users engage with Treasure's tools like Trove and MagicSwap, $MAGIC flows back into the DAO treasury via platform fees.

10/24 🛠️Pillar 4: Treasure's ToolsCurrently, three prominent dapps are developed within Treasure, extending the ecosystem's uniqueness.@TroveByTreasure@MagicSwap_

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11/24 🌎Pillar 5: Bridgeworld - A flagship game by the Treasure team.In @playbridgeworld, players are drawn to strategic trading, resource collection & crafting, fueled by social coordination & geopolitics. Guilds compete for $MAGIC emissions & strategize for optimal yields.

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12/24 Treasure acts as a game console incubating indie games & boosting growth while @playbridgeworld mobilizes the economy, adding value to token assets.It is like a gamified DeFi protocol that utilizes $MAGIC (power), Treasure NFTs (resources), & Legions (players).

13/24 Why opt for Treasure as a builder?=> Benefit from the ecosystem's impressive metrics, unlocking potential growth and success in the thriving gaming landscape.

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14/24 Treasure was one of the largest recipients of $ARB airdrops.

This fortune can help accelerate the project's growth and enhance the value of $MAGIC for its holders.

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15/24 Treasure, like Steam or Nintendo, connects game devs to vast audiences.Treasure supports devs with grants, planning to reclaim just up to 30% via treasury swap, in contrast to Web2 platforms that seize 30% of revenue.

16/24 A robust community with a total of 400k+ gamers who are ready to test new games, provide valuable feedback and contribute to the games' growth & success.

17/24 New features like TreasureTags incentivize holders to contribute while allowing Treasure to promote or phase out cartridges as needed.By supporting new games or reallocating resources from low-traction games, Treasure fosters quality projects and maintains user interest.

18/24 Treasure's interoperability as a USP creates the "1 + 1 = 3" effect.When games & players can interact and cooperate, a synergistic effect emerges, creating a whole that is greater than the sum of its individual parts - @karelvuong.

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19/24 If you want to learn more about $MAGIC tokenomics, please check out the in-depth analysis from @mrjasonchoi and @JavierAng_

20/24 In short, Treasure establishes a unified ecosystem where games utilize the reserve currency $MAGIC for in-game purposes & cross-game trading.The project serves as an excellent case study in creating interoperability for Web3 game developers.

21/24 With milestones ahead, funding from token raises, and a focus on utility-driven features & onboarding skilled gamers, Treasure could be a breakout star in indie Web3 gaming.

22/24 Thanks for reading!Please follow for more Web3 gaming content and a long-form article on @Treasure_DAO soon 🙌

24/24 Special thanks to @nonieengel@seidtweets and @ethanweii for looking over my last thread with @chapterone 😊 🤝

For more writeups from Chapter One's researchers, follow this list: twitter.com/i/lists/162053