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Arbitrum, which is flooded with DeFi and NFT scenes, is currently the leading Ethereum L2 scaling solution.
That said, currently at the top of Arbitrum’s NFT ecosystem is Treasure DAO, a collective building “Decentralized Nintendo” and the tools needed to bring that vision to life.
Treasure’s latest NFT tool? magic swap v2.
This optimized MagicSwap has the potential to revolutionize the game economy for web3 games, so let’s take a look at what you can expect from this unprecedented NFT exchange in today’s post!
-WMP
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treasure However announced the plan We plan to launch the MagicSwap v2 NFT Automated Market Maker (AMM) in Q2 2023.
Previously, there was no shared decentralized exchange infrastructure for fungible and non-fungible tokens.
For example, access Uniswap now to trade ERC-20 like MATIC, You can wipe out NFTs Like Lil Pazis. But the underlying infrastructure is now something else. ERC-20 will be traded on Uniswap’s traditional he DEX protocol, while NFTs will be traded on market aggregators. spirit.
Of course, Uniswap says it plans to create a “more interoperable experience” between NFTs and ERC-20, so the DEX giant will introduce universal token compatibility to some extent in the near future. It is not an exaggeration to assume that it is planned.
What’s notable about MagicSwap v2 is that it’s the first. Verified The universal DEX as we know it, custom-tuned for web3 games, Treasure’s specialty.
“Treasure is building a “decentralized Nintendo”. This is a collection of on-chain games that interconnect in-game assets and the interoperability of Treasure’s native token, MAGIC, as a shared currency. Some of the most popular of these games include the strategy game Bridgeworld, RPG games such as The Beacon and Smolverse, and the resource management and strategy game Realm.”— Ben Jove Arbitrum is Mooning
Treasure is committed to fostering a decentralized gaming ecosystem where many different games, each with their own world and economy, can evolve and grow together.
To that end, the new MagicSwap is designed to be a flexible and open game economy resource that many projects can utilize.
Beyond the universal token compatibility infrastructure already discussed, MagicSwap will specifically support NFT-to-NFT pools via ERC-1155, NFT-based liquidity provider rewards, dynamic price adjustments, automated loyalty, and offers “sweep” batch purchases.
On the gaming side, MagicSwap offers a variety of new possibilities such as:
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⛲ Pool permissions — Game creators will be given the option to allow how tokens can be traded from the pool, thus allowing for a more tightly controlled game economy and mitigating overly speculative trading
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🏪 Location-based market — Spatial and geographically based trading constraints are enabled so that games can have in-game location-specific marketplaces using MagicSwap.
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💱 Non-financial transactions — MagicSwap’s pool customization options allow game creators to easily allow players to trade a “web of different tokens” without a quick off-ramp, allowing them to control which parts of their game will or will not be monetized. Provides the ability to fine-tune.
At Metaversal, I’ve written extensively about how web3 games routinely lack economic means that make trading in-game assets all too easy. suffer from economic drains and excessive speculation.
These issues can be game killers. So one of the reasons MagicSwap v2 is so appealing is that it provides web3 game developers with an open resource to manage their game’s economy gracefully and flexibly according to their needs.
Earlier this year, I also wrote that one of my wishes for NFT games in 2023 was to see more games.no token game” made intensive use of NFTs only, not ERC-20. I think being able to launch his NFT-to-NFT pool using MagicSwap is certainly an interesting step in that direction. As the Treasure team pointed out in their latest announcement:
“For example, a game can allow players to swap various resources, but not convert them to USD. The game may include some degree of monetization if players can create ways to upgrade their characters or produce rare items. These rare items are sold peer-to-peer on the Trove Marketplace. can be stolen, which creates friction in the collectible trading experience, but doesn’t affect trivial items like cheap in-game resources.”
With MagicSwap v2 underway and the Treasure ecosystem continuing to grow, here are three things to keep an eye on in this space over the next few months.
1⃣️ Treasure $MAGIC — $MAGIC is the governance and fee token for Treasure and MagicSwap, and is also currently one of the most traded tokens on Arbitrum, so keep an eye out for this year as a proxy of sorts for the nascent Arbitrum gaming sector!
2⃣️ 1st MagicSwap game experiment — NFT-to-NFT pools and other customization options MagicSwap paves the way for a more sophisticated, skill-based web3 gaming economy, thus making gameplay richer. Track projects that start construction here early!
3⃣️ Which chain? — Treasure says they plan to roll out MagicSwap to Arbitrum One and Arbitrum Nova first, followed by other chain deployments. For example, I’m interested in seeing this infrastructure on Ethereum as well, so see where MagicSwap starts.
William M. Peester is a professional writer and creator of metaversal— Bankless newsletter focused on the emergence of NFTs in the crypto economy. Recently, we also provide content to Bankless, JPG, etc.
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