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From Loot trainees to GameFi Masters, review the TreasureDAO "Magic" learning trail

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TreasureDAO is similar to 4399, which accurately grasp the demand wave of small games, and Treasuredao is targeting the long-tail game market, where the growing number of Web3 players will have great demand for such small games and AA games.

The original title: "IOSG Weekly Brief | GameFi in 4399, under the Magic would be a nintendo? # 161"

Original article by Fiona, IOSG Ventures

This article is IOSG original content, only for industry learning communication, does not constitute any investment reference. If you need to quote, please indicate the source, reprint please contact the IOSG team for authorization and reprint instructions.

TL; DR

We're in the middle of moving away from being infrastructure-centric to being user-centric, and GameFi has an important role to play in attracting a mainstream audience as well as increasing engagement. TreasureDAO is one of these companies, with loyal community support we've never seen before, and is becoming an industry leading Web3 decentralized gaming platform.

Throughout its history, Treasure has shown great execution, self-iteration, and tenacity. Always committed to the core values of community first, decentralization and building permission-free blocks for games, it started with Loot spin-off and has grown into a gaming hub with over 380,000 users across the chain, and over 18 independent games built on Treasure.

Players are a scarce resource at GameFi, and Treasure has a unique advantage in relying on them, as well as providing the infrastructure of Web3 development tools for mid - and high-end game developers. It's an attractive platform for Web 3 Indies eager for initial players and traditional developers trying to embrace the world of Web 3.

TreasureDAO, for its part, stands to benefit directly from the new energy these games bring when there are hits. The Beacon has tripled Treasure's user base in the last 2 months. More users and better games will create an increasingly positive feedback loop that will attract more top game developers to the ecosystem.

The TIP23 proposal is a landmark event that signals that the era of passive pledge for tokens is passing and that there will be more incentives for quality game development and ecological contributors. TreasureDAO is moving to a sustainable, games-first growth model.

我们能在传统游戏看到相似的影子，比如 4399 和 Steam，但是 Treasure 的想象力不止于此。Web 3 的去中心化以及 Token 经济让玩家社区和 Treasure 绑定更深，成为玩家和建设者社区驱动的游戏生态系统。TreasureDAO 将积累和 Token 化玩家的活动，深度共享在整个游戏社区，并创造可互操作性功能。这种设计将不受单一游戏生命周期短的影响，因此增强了整个生态系统的弹性和生命力。

The origin of TreasureDAO

2021.9: Officially launched with the goal of serving game ecology and community first

Don Hoffman's Loot Project launched on August 27, 2021 -- the first free foundry NFT project to adopt a bottom-up approach to world building that has inspired many NFT projects, Examples include More Loot, AGLD, Realms, Quests, LootMart, etc.

Treasure is one of these projects, launched in September 2021 by John Patten and Yuta, with a core theme of community first. It offers free minting of Genesis NFT Treasure Cards to the community and has distributed some to the Loot community. Within a month of launch, Treasure created the first revenue deal, Magic Farm, and added Legion NFT to the incentive plan. From the start, Treasure iterated faster than any other Loot project, setting a long-term goal of creating a place with a loyal community upon which game developers could build.

John Patten even came up with a new concept "Proof of Imagination: Joy as a Form of Collateral", which was a central tenet of early exploitation of Treasure ecosystems. Using the DeFi concept and applying it to the Treasure ecosystem was a clear mission communicated to its community members and investors early on.

2021.11: Transition to Arbitrum, launches first NFT market

Within the first month of launch, the team realized that staying on Ethereum L1 wasn't enough if they wanted to impact the gaming community, especially through their unique bottom-up approach. They decided to transition from L1 to L2. Arbitrum, as we know it, became the new home of what is now the TreasureDAO ecosystem.

Treasure officially transitioned to Arbitrum in October 2021 and launched the first NFT market on Arbitrum, Treasure Market (later renamed Trove), in November 2021. Treasure inspires this transition move through Legion NFT as a reward.

2022.2: The first flagship game, Bridgeworld

Bridgeworld reflects Treasure's early game ideas. It's a strategy game that revolves around mining, farming, summoning, exploring, and more gamified DeFi action. Atlas Mine is a pledge agreement in Bridgeworld that rewards $MAGIC based on amount, time, NFT enhancement (e.g. Legions and Treasures). It builds an interconnected economy on top of the $MAGIC, Legions NFT, and Treasure NFT, designed to guide the Treasure ecosystem.

2022.4: Bring in external partners instead of relying solely on core contributors for key improvements

Soon, the Treasure team realized that simply building a finance-centric ecosystem was not enough. In order to realize its vision of becoming a decentralized gaming hub, Treasure began to shift its focus to building physical games and bringing in experienced game developers. In April 2022, it announced a partnership with Strider, a team of gaming industry veterans, to build games in the Treasureverse. It was also at this time that Treasure decided to extend the Treasure system to partner projects, rather than relying solely on core contributors.

2022.6: Rebranding, ambitious TreasureDAO

Treasure has identified three key layers: Ammunition (games and materverses projects), community (Treasure's sub-communities and community connections), and infrastructure (sharing of economic engines, tools, and resources to empower builders).

It shows that Treasure is confident enough to build the first decentralized gaming platform and reshape the next generation of gaming. Taking the Trove market as an example, previously Treasure planned to separate 2 markets: Trove for the entire Arbitrum NFT transaction denominated in $ETH, and Treasureverse for the Treasure market denominated only in $MAGIC. But now that the team is more confident that Trove is becoming the core market on Arbitrum and L2, it decided to merge as one, no longer distinguishing between Treasure ecology and external ecology, to provide an integrated trading experience.

TreasureDAO development

Overview of current ecology

Critical infrastructure: Trove Marketplace, Bridgeworld, MagicSwap, Treasure Tag

200+ Ecological project Pipeline

18+ has now announced game projects on the platform

$267M gross transaction on Trove

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://twitter.com/CryptoFi_18/status/1565641291408736256?s=20& t=AlARTPQbVm5cc_1wRvwyWQ

Trove Marketplace

Trove Marketplace officially launched in June 2022. It evolved from Treasure Marketplace, which was launched in November 2021. The original idea was to provide a trading marketplace for NFT for eco-projects on Treasure. Total transactions on the marketplace have exceeded $267 million since its launch. As the chart below shows, it is also the leading NFT transaction market on Arbitrum.

Source: https://dune.com/minicoohei/arbitrum-nft-market-analytics-and-comparison

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://dune.com/fritten_eth/treasuredao-ecosystem

Bridgeworld

Bridgeworld is now more of an infrastructure than a game. Here's the heart of it:

Atlas Mine 是用户锁定 $MAGIC 并被动抵押 NFT 以获得 Token 奖励的地方。最近通过的 TIP23 提案已经将其关闭。

Harvester is currently the main $MAGIC generator since the Altas Mine was closed. Users need to mortgage the Harvester Part (which puts the Legions NFT into Forge) and $MAGIC to get a reward. There are currently five Harvesters, each with a capacity of $6 million. According to the roadmap, Harvesters will be able to accommodate any NFT in a particular game and can act as a Sink-as-a-Service framework for the Harvester Takeover race. Knights of the Ether and The Beacon will compete in the upcoming first Harvester Takeovers contest.

Forge is the Legions of holders who can combine various assets to create new ones. You can make Treasure and consumable NFT, which have different uses in Bridgeworld.

Barracks is a place where players can summon a legion of recruits to start their journey in Bridgeworld. You can cast new recruits for $10 MAGIC. Recruits provides a low-cost way for new players to access Bridgeworld.

Starlight Temple can use the consumable NFT to tattoo the Legions. The higher the level of the tattoo, the more functionality it can add to the legion.

The Ivory Tower is the Legions doing the mission and can earn rewards such as Treasure shards.

Monolith，用户可以在其中投入 $MAGIC 和 $ETH 以获得 Balancer Crystals，这是可在游戏中使用的流动性池 Token 。

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://bridgeworld.treasure.lol/

MagicSwap

MagicSwap V2 可以改变 Treasure 经济下一阶段的游戏规则。它不仅适用于 ERC20 Token ，还允许项目创建使用 ERC-1155 作为基础对的池，类似于 Sudoswap，在尝试 NFT 创造更好的流动性解决方案。游戏开发者还可以利用 MagicSwap 创建有趣的交易规则，无需为用户提供直接兑换本币的途径。

MagicSwap 致力于创造一个更加平衡和动态的金融系统，为 NFT 的交易提供无摩擦的体验，使用 $MAGIC 作为治理和费用 Token 。该协议会对 MagicSwap 池进行的交易收取 0.5% 的费用。它目前在最新游戏的两个流动资金池中拥有 280 万美元的流动资金和 24 小时 32,000 美元的交易量：MAGIC-ELM 和 MAGIC-GFLY。

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://twitter.com/jpatten__

/status/1618354732678144006? s=20& t=3iY2HxApqNpjIUGu5CxEUQ

TreasureTag

TreasureTag is a free, soul-bound (non-transferable) player code that will serve as the foundation of player profiles, identities, and user reputation throughout the Treasure ecosystem, with a variety of interoperable engagement and loyalty features such as points systems, badges, and achievements, To strengthen the relationship with the community and its players. This social graph can be used to activate all game activities in the ecosystem through recommendations, doing tasks, and so on. It's only been available for two weeks, and more than 46,000 user tags have already been registered.

Some data

Of The games that are currently live, the most popular (by MAU) are The Beacon, Bridgeworld, Battlefly, and Smolverse.

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Monthly Active Users on Treasure Games

Player activity in the last 30 days on different L1 and L2 shows that most of the activity is still on Polygon and BNB; But Arbitrum is the leader in ETH L2 and L3.

TreasureDAO contributes about 76% of gaming activity on Arbitrum.

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: DappRadar

With Beacon having exploded last month and gathering nearly 30,000 active users for Treasure, we estimate that TreasureDAO is undervalued compared to other platforms such as Sandbox, Decentraland, Otherside, and Gala. We came to this conclusion by analyzing the MAU/FDV ratio, which includes monthly active users as a proxy for how active they are.

Source: DappRadar, Duneanalytics

The Beacon game

The Beacon is actually the first playable game in the Treasureverse. It is a rogue-like action role-playing game that earns TreasureDAO a lot of attention. Before The Beacon went live, Treasure had less than 10,000 weekly active users at its peak. The Beacon alone has nearly 30,000 total users, nearly three times the number of Treasure's previous users. Not only that, but The Beacon has contributed more than $6 million in transactions to Trove.

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://dune.com/fritten_eth/treasuredao-ecosystem

The core gameplay is a daily quest to challenge dungeons. Benefit from rogue-like features: death and procedure-generated levels that make it difficult for The Beacon. This kind of challenge leads to a great sense of accomplishment after completing the game, as we've seen players including Treasure COO show off their game videos daily on Twitter. Completing the level will also reward you with a treasure chest. The physical and mental feedback forms an addictive mechanism that is rarely seen in the current GameFi project.

More importantly, it has added social features. When the player first creates a character, the system automatically gives it an empty house to decorate. Players can collect various house decorations to decorate the house. You need to play games (or top up money) to get the house renovated. Finally, you can show and share your little house with your friends.

Source: https://www.thebeacon.gg/

Upcoming games

Kuroro Beasts is a game studio that has been in development for over a year. Over the past year, they have successfully raised over $3 million in NFT sales and expanded to a team of 27 enthusiastic industry professionals. It currently has two games in development: Kuroro Beast Brawl and Kuroro Wilds: Call of the Islands (mobile first and monster collection MMO). Kuroro Beast Brawl is about to release Open Alpha. It's a web-based turn-based automatic fighting game.

The core NFT in Kuroro Beast Brawl is the Beasts NFT. In PvP mode, players can team up with monsters they own to compete against each other. Players can also participate in battles and tournaments with other holder players. This is not just a simple game of clicking buttons, but requires strategy and skill.

The team's goal is to use PvP to turn Kuroro into a competitive esports game by streaming battles, opening them up to large audiences, hosting millions of tournaments and more.

Source: https://twitter.com/mikelauofficial/status/1623797147803222016?s=20& t=UPh7AJ-SSwr_4Y2dCJuOvA

资源 Token $MAGIC

2021 年 9 月，$MAGIC 诞生，用户可以通过质押 Loot, $AGLD, n project 和 Treasure 来赚取$MAGIC Token 。其中 33% 的 Token 分配给了最初参与 30 天质押活动的用户。团队发展和生态基金仅保留 25%（融资均从生态基金出币），其余均分享给参与 Treasure 生态的质押者及玩家。

Token 整体上参考了 BTC 的通缩机制，设置了最大供应量为 3.5 亿枚，且每年减半。早在 Treasure 建立初期，创始人就在一篇文章中透露出对流动性和 Token 经济的重视，并将$MAGIC 设想为一种类似 ETH 的资源 Token ，而不是毫无实际用例的治理 Token 。不仅如此，$MAGIC 需要被质押才能获得生态收益。但创新在于将 Treasure 等 NFT 也当成底层资产，并设计出双资源经济模型。用户必须同时抵押这两种 NFT 和$MAGIC，才能获得新物品，这也是早期 Bridgeworld 的雏形。

$MAGIC 是贯穿 TreasureDAO 生态的唯一 Token ，承担着治理和费用 Token 的功能，并且是连接各个游戏社区的核心资源。TreasureDAO 并不限制建立在之上的游戏发行自己的 Token ，而是积极帮助他们构建经济系统，并用$MAGIC 提供生态支持。目前来说，有以下两个层面：一是以$MAGIC 作为 grant 或早期投资孵化的资产，BattleFly 就是个很好的例子。二是将$MAGIC 作为需要争夺的底层资源，比如 Harvester Takeovers 竞赛，为所有游戏提供争夺流量及更多资源的机会，Harvester 将可能是产出$MAGIC 的唯一通道。

随着 TIP23 提案的投票通过，$MAGIC 在重新分配 Token 分发，被动质押获得 Token 的时代正在过去，随之而来的是 Harvester Takeover 竞赛以及更多的游戏开发激励计划，优质的游戏开发和生态贡献者将会获得更多的激励。它正在从一个充斥着过度金融化的 NFT-Fi 游戏转变为 Web3 游戏的领导者和先驱，以吸引知名游戏工作室及 AA 游戏开发人才。这是一个具有里程碑意义的事件，TreasureDAO 正在转向可持续的、以游戏为先的增长模式。

从 Loot 练习生到 GameFi 魔导师，全面回顾 TreasureDAO 的「魔法」进修之路

Source: https://twitter.com/jpatten__/status/1618354970251923458?s=20& t=3iY2HxApqNpjIUGu5CxEUQ

Treasure's imagination doesn't stop there

TreasureDAO is similar to 4399's accurate grasp of the demand wave of small games, TreasureDAO is also aiming at the long-tail game market, 3A games will only be a few game manufacturers can reach the standard, and gradually growing Web3 players will have a great demand for such small games and AA games.

In terms of business model, TreasureDAO is more similar to Steam, providing a cohesive gaming platform for game players, providing development and distribution services for game developers or publishers, and ultimately becoming a bridge between players and games. Steam is the largest game distribution platform, with 1 billion registered accounts and about 120 million monthly active players, and takes a commission of up to 30 percent of sales. Soon, as more gamers were drawn to the platform and its viral social features, Steam began offering more tools and services to expand its ecosystem, such as game development support backed by Valve.

TreasureDAO currently generates $267 million in gross market volume and more than 18 games on or waiting to go online. Although still in the early stages of development, there is already an active and loyal community to play games together, participate in ecological governance, pledge and more, a decentralized gaming ecosystem driven by a passionate community of players and builders, and as such, there is a deeper bond between players and TreasureDAO. As the Web 3 gamer base has grown, their tastes in verticals have diversified, and the demand for publishing platforms covering a wide range of genres has skyrocketed. TreasureDAO's first goal is to attract good game developers:

提供一套基础设施和环境来满足独立开发者的需求，比如建设 Trove 及 MagicSwap 交易市场、与 MetaFab 等技术合作方搭建开发 SDK；深度参与并支持游戏的经济，比如将推出生态内游戏和$MAGIC 的竞争质押体系 Harvester Takeovers、与 BattleFLy 的 Token 互换及收益抽成。更重要的是，随着 TreasureTag 等基础设施的完善，TreasureDAO 将积累和 Token 化玩家的活动，深度共享在整个游戏社区，并创造可互操作性功能。这种设计将不受单一游戏生命周期短的影响，因此增强了整个生态系统的弹性和生命力。