Announcing Treasure's $3.5M Token Sale and Partnership with BattleFly
We are ecstatic to announce the close of our $3.5M MAGIC token sale at a $80M fully diluted valuation and its ratification by the DAO community. The token sale was led by Digital Strategies Guild with participation from previous partners, 1kx, Neon DAO and ID Theory, and new participants, Arbitrum, Skycatcher Crypto, IOSG, Alchemy Ventures, IndiGG, StreamingFast, and other strategic partners.
Building the decentralized game console connected by MAGIC
Since launching in September 2021 as a complementary addition to the Loot ecosystem with a composable currency and resources to serve as the bridge between metaverses, Treasure took on a life of its own to evolve into something greater.
Today, Treasure is building the ‘decentralized game console’ to connect games, builders, and players together through bottom-up driven IP and infrastructure, unified through a common set of composable resources. Underpinning the Treasure ecosystem is MAGIC, a fair launch token which powers key infrastructure and acts as a reserve asset across its 'game cartridges' – first-party and third-party game titles built by seasoned game developers and studios.
Since moving to Arbitrum as an early adopter 10 months ago, Treasure has achieved a number of significant milestones:
become the dominant NFT/gaming ecosystem and marketplace on Arbitrum, writing over US$265M in marketplace volume and is now attributable for 95%+ of NFT and gaming related transactions on the network;
launched two sets of successful first-party IP: Bridgeworld and Smolverse;
announced ex-AAA studio partnership with StriderDAO to launch a flagship game atop the Smolverse IP and stand up an internal game studio;
launched Harvesters, the next major product release for Bridgeworld that is pioneering social coordination between guilds (and games as guilds);
launched Trove as the personalized and gamified NFT marketplace to serve as the gateway for players, collectors, and traders to discover the Treasure ecosystem (Arbitrum and ETH L1 support).
launched the MagicSwap AMM focused on modular trading, liquidity and token sink/faucet offerings for the Treasure gaming ecosystem’s tokens and NFTs; and
cultivated a vibrant ecosystem of games (10 launched, a further 50 seeking integration) and passionate community members (100k+ across the network).
Treasure’s current set of games that have launched with MAGIC integration include BattleFly (PvP idle strategy game), Tales of Elleria (immersive 3D MMORPG), Knights of the Ether (roguelike deckbuilder), and Realm (world-building game). The Treasure council is also working closely with other experienced founders, game studios, and builders to potentially integrate its next set of games such as The Beacon (roguelike dungeon crawler game), Ruffion Reborn (deckbuilding strategy game), Hovercats (hypercasual Jackbox-like games), and Void Runners (multiplayer spacefaring game).
“Over the past year, Treasure has evolved from a small experiment to a blossoming ecosystem of games and communities unified by a common currency (MAGIC), composable assets (NFTs), and infrastructure,” said Karel Vuong, Head of Operations at Treasure. “This has enabled us to lead a novel approach to decentralized, bottom-up game publishing and interoperability, and we’re ecstatic to see continued support from our community, games, and strategic partners.”
BattleFly: A third-party game partner building entirely with MAGIC
BattleFly is a PvP idle strategy game that will be the very first ecosystem partner to build their game entirely on top of MAGIC. In Season 1 of the game which is expected to launch in October 2022, players will be able to assemble their BattleFly mechas from over 400 unique mods and send them into battle by staking MAGIC.
The launch of their Season 1 game will serve as an early milestone proof point for how ecosystem games can build around MAGIC and showcase true and practical interoperability between games and metaverses. Their planned MAGIC and composable NFT uses include:
MAGIC will be used extensively throughout the game from staking, buying battle passes, purchasing mod packs and rewarding players. The team has put substantial development effort into building what we believe to be the most sophisticated combat engine in web3 gaming, developing a fun and innovative layer to competitive DeFi gaming.
BattleFly will also feature game sinks involving Treasures, a composable NFT emitted by the Treasure ecosystem, which will enable players to upgrade their BattleFly by burning it to enter the higher yielding Hyperdome arena.
Treasure will use $1M of the raised funds to obtain 500k governance tokens from BattleFly (“gFLY”) which will coincide with the launch of their Season 1 game.
Together with its game partners, Treasure will continue working to realize its vision of creating an interoperable gaming ecosystem unified by a shared currency, assets, and infrastructure that not only enables its builders but also delight its players. Treasure plans to use the funds from the token sale to grow its team, build greater infrastructure and tooling, and foster partnerships to expand its portfolio of games.
—
To learn more about Treasure, visit treasure.lol.
To partner and build with Treasure, contact partnerships@treasure.lol.
To find a job within the Treasure ecosystem, visit treasuredao.pallet.com.
For more information, please contact media@treasure.lol.
You can find Treasure on social media: Twitter, Discord, and LinkedIn.