Inventory of TreasureDAO Ecosystem Status

TreasureDAO is an NFT ecosystem built for games, metaverses and other types of NFTs. It originated from the experimental NFT project Loot and its derivative Yiild Farming in 2021. Users can obtain Treasure’s native token MAGIC by staking Loot and the token AGLD .

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?

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;

2. BridgeWorld, a game launched by TreasureDAO that focuses on the distribution of MAGIC tokens;

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

1. Active users on the chain

Data source: Dune Analytics

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 Treasure ecological upsurge. The game mechanism is very simple, mainly including customs clearance, answering questions, buying and selling props, etc.

3. In January 2023, Treasure DAO launches a game creator program powered by Arbitrum. At the same time, due to the impact of the Arbitrum airdrop expectation, Treasure once again ushered in a small climax of active users on the chain.

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.

2. NFT trading volume

Trove is the main trading place for NFT, and is 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.

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

From the above transaction data, we can see that the current trading volume of Trove Market is mainly concentrated on Arbitrum. Among them, Collection with the largest proportion of NFT trading volume is Legions, accounting for 34%, followed by Smol Brains, accounting for 22.2%, and Treasures. 11.9%.

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%.

2. Game Ecology Inventory

TreasureDAO has incubated more than 10 games, among which Bridgeworld, Realm, Smolverse, The Beacon and BattleFly are the most popular.

Source: Treasure official website

1.Bridgeworld

Bridgeworld is a strategic business, trade and domination game upgraded from the original blockchain 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 missions. NFT rewards can be sold for the native token MAGIC, or synthesized into more complex NFTs for mining.

There are currently eight places in Bridgeworld, namely Pilgrimage, Barracks, Ivory Tower, The Forge, Harvesters, Starlight Temple, Corruption ) and Monolith. Each venue has a different way of playing:

In the past 90 days, the floor price of NFT items in Bridgeworld has increased significantly. In particular, the trading volume of Treasures has reached 747,000 MAGIC in the past 90 days. There is no statistics on the floor price of NFT (Legion Genesis) and Legion Auxiliary data.

Source: Trove Market

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

Realm is a metaverse earn-to-play game where players can explore and create virtual worlds and games. There are two main characters in the game, Adventurer and Realmer. Realmers are Realm NFT holders, mainly by competing for the highest ranking on the leaderboard and obtaining MAGIC rewards, producing NFTs and selling items to other Realmers. Adventurer's gameplay is to enter the game field, find missions, PvP battles, and get rewards of two game tokens, PARTICLE and ANIMA (both of which are soul-bound Tokens that cannot be transferred).

The floor price of the NFT Collection of this game has a relatively large increase at present, especially the floor price of Realm has risen from 109 MAGIC to 299 MAGIC in the past 90 days, and the transaction volume has reached about 90,000 MAGIC.

Source: Trove Market

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

3.Smolverse

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.

In August 2022, it was announced that it will cooperate with StriderDAO to build the flagship game Smolville on top of Smolverse, which is still in the conceptual stage. Moreover, TreasureDAO has set up a special studio Darkbright for the game, responsible for the development of Smolville.

The NFT with the largest trading volume in the past 90 days is still the core NFT Smol Brains, but its floor price fell from 825 MAGIC to 525 MAGIC. The floor price of Smol Treasure has a relatively large increase.

Source: Trove Market

4.The Beacon

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. The game revenue is various NFT props, such as skin accessories, decorative accessories, etc.

The Beacon is the first diamond partner (the highest level) of the Treasure DAO GBP program, and recently launched the Harvester (Reaper) campaign. The first phase of the event is from June 5th to June 19th. The event will not only produce regular loot and limited-edition suits, but also drop Scale of Emerion, and the subsequent reaper mechanism will play a role in issuing MAGIC tokens. After June 19th, the Reaper Project will be fully operational. Players can claim Scale of Emerion and exchange it for Ancient Permits and interact with other event mechanisms. Stake Ancient Permits to get MAGIC rewards.

The launch of the Reaper event has led to a slight increase in the character NFT, which has not yet been recorded in the Trove market.

Source: Trove Market

5.BattleFly

BattleFly is an experimental casual strategy battle game developed by an anonymous team where players compete against each other (PvP) for rewards. The game is divided into two scenarios: The Garden, where users acquire weapons and gear, and the Hyperdome, the battle arena. During the battle, players on both sides need to pledge a certain amount of MAGIC (5-100), and the winner can get part of the MAGIC pledged by the loser. The game will officially open for public beta in March 2023.

At present, the highest transaction volume in the Collection is the battle NFT BattleFly, with a transaction volume of 1.6 million MAGIC. Judging from its historical transaction data, the trading volume of this NFT has also dropped sharply, and the floor price has also dropped by about 17 times.

Source: Trove Market

Judging from the monthly activity and transaction volume of the above game projects, only The Beacon has a monthly activity of more than 1,000, which is closely related to the recently launched Reaper activity. The core game Bridgeworld also has a monthly activity of only 800+.

Looking at the historical data of the Treasure ecological game project, its current overall MAU is showing a downward trend, the NFT transaction volume has also declined sharply, and the user stickiness is relatively poor. It can also be seen that there are currently no games with relatively high playability in TreasureDAO. It is difficult for a project to maintain its popularity after a short period of new enthusiasm.

Source: Dune Analytics

3. Token release

Treasure's native token MAGIC, with a total supply of 350 million, uses of tokens include: 1) Pledge to earn MAGIC; 2) Used to summon legions in Bridgeworld and synthesize NFT; 3) Used as the settlement currency of TroveMarket; 4) Used in games Other scenarios in the project, such as fighting pledge currency in BattleFly; 5) Participating in project governance, such as in-game ecological funds or distribution of treasury revenue.

The distribution of MAGIC tokens is as follows:

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%. Currently disclosed information:

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 + halving the subsequent output 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.

MAGIC inflation pressure is mainly concentrated in January-March 2023, because the first 12-month stakers' approximately 50 million MAGIC will be unlocked and vested on January 26, and deposits will experience a 45-day linear release. At present, there are 4.265 million tokens left in the mine waiting to be withdrawn, and the selling pressure of the tokens in the mine (linear release) is relatively small.

Subsequent MAGIC tokens will no longer be released through staking, but through Harvesters or other gamification methods.

Source: Honeycomb

Four, recent activities

1. Othkeeper's Insignia Casting

On June 13, 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. The badge is valid from June 21st to December 21st.

Ancient Permits will play a role in the upcoming Thundermane Harvester event, and MAGIC can be obtained by staking Ancient Permits.

However, the community participation in this event is very low. The event has been online for 7 days, and only 278 coins have been minted so far.

Source: KOTE official website

2. The new game Kaiju Cards will be launched

The turn-based battle card game Kaiju Cards joins the Treasure ecosystem, produced by Los Angeles-based gaming and entertainment company Permadeath Studios, with team members from Adult Swim, Nickelodeon, DisneyTV, Cartoon Network and Netflix.

The Pioneer Event will be launched at the end of July, and the Pioneer Kaiju NFT will include three characters: Penguins, Warhogs, and Frogs, and three professions: Knights, Wizards, and Rogues. Each character Kaiju will have its own creation accessories, various attributes, occupations, etc.

Source: Twitter

3. Treasure will allocate part of ARB to game developers who contribute to the ecology

Arbitrum airdropped 8 million ARB to Treasure on April 25th. On June 5th, the Treasure community agreed with Treasure DAO's proposal to "allocate part of the ARB to consolidate strategic game studio partnerships". According to the content of the proposal, the 8 million ARB obtained from the Arbitrum Foundation will distribute 2 million to the game developers who contributed to the ecology, and the recipients include The Beacon, Realm, Tales of Elleria, Knights of the Ether and The Lost Donkeys et al.

Summarize

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.

However, GameFi is indispensable in the encryption world as a low-threshold, high-spread track. The current GameFi is still in the early stage of exploration. As a game platform, Treasure can attract other game studios to join, and has greater opportunities than a single chain game project.