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A gaming-focused altcoin built on Ethereum (ETH) is posting big gains, leading most crypto markets over the past month.
MAGIC is the native token and “natural resource” of Treasure, a project that aims to be a decentralized video game ecosystem.
Originally built on the Ethereum mainnet, Treasure eventually migrated to Arbitrum, an optimistic rollup scaling solution that settles off-chain transactions for lower fees. Arbitrum doesn’t have any tokens yet.
Treasure has just launched a new Game Builders Program (GBP) to encourage the creation of aligned and high-potential games in the Treasure ecosystem. The program is backed by Arbitrum, according to a thread from Treasure.
says Treasure,
“Why build with Treasure?
Building with Treasure launches games into a powerful flywheel of deeply connected communities and builders, empowered by interoperability.
Source: Treasury/Twitter
Joining the GBP grants builders hands-on support from Treasure, according to the announcement.
To kick off the new year, MAGIC soared as much as 185% from a low of $0.48 on January 9 to a high of $1.37 yesterday. The Arbitrum-based altcoin has since retreated and is currently trading at $1.18 with a market cap of $242 million.
Arbitrum isn’t the only Ethereum layer 2 to see growth. Optimism (OP), another top Ethereum scaling solution, hit an all-time high of $2.50 on Saturday, a gain of around 175% since the 2023 open.
Polygon (MATIC), the largest Ethereum scaling solution by market cap, is currently trading at $0.99, up around 31% year-to-date.
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Featured Image: Shutterstock/Salamahin/Brian A Jackson
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