‘MAGIC’ Metaverse Altcoin Skyrockets As Majority of Crypto Market Suffers Major Downturn

A project using bridges to connect different metaverses is soaring in price while the rest of the crypto world enters murky waters.

Magic (MAGIC) is the native token of Treasure, a project which bills itself as the “Metaverse Bridgeworld” while harnessing the features of non-fungible tokens (NFTs), decentralized finance (DeFi) and gaming.

According to the Treasure website, the project employs three distinct assets throughout the Bridgeworld ecosystem.

“MAGIC powers everything. Players can earn MAGIC through playing, mining and participating in Bridgeworld.

Treasures (NFTs) are a set of economic resources shared across the metaverse. As such, each Treasure carries a unique story that weaves different worlds.

Legions (NFTs) are the physical entities of the Bridgeworld [used to] mine, farm, craft, quest, battle, and more…”

A blog post explains that the Legions game will add utility to NFTs by expanding their function beyond simply being profile pictures by matching users who have the same first profile picture (PFP).

“Players team up based on their avatar and go to battle (e.g. CyberKongz, Cool Cats, Bored Apes)… The game will also allow multiple PFP communities to act as teams.”

The project runs on a fully decentralized autonomous organization (DAO) where users control both the marketplace and tokenomics.

Magic witnessed a 391% rally from $1.25 on January 24th to an all-time high of $6.14 on Saturday.

The token climbed 52% over the last week, but has since experienced some choppy price action and is down 6.46% at time of writing to $5.09.

Check Price Action



Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox



Follow us on Twitter, Facebook and Telegram



Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia

The post ‘MAGIC’ Metaverse Altcoin Skyrockets As Majority of Crypto Market Suffers Major Downturn appeared first on The Daily Hodl.

• Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.
• Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. FREE ACCESS.
• CryptoHawk. Altcoin Radar. Free Trial.
• Source: https://dailyhodl.com/2022/02/22/magic-metaverse-altcoin-skyrockets-as-majority-of-crypto-market-suffers-major-downturn/