A little-known cryptocurrency has seen its price increase by more than 120% in recent days after Nasdaq-listed cryptocurrency exchange Coinbase added it to its listing roadmap. The listing roadmap developed by Coinbase was designed to promote transparency and prevent insider trading on its listings.
Magic ($MAGIC) will be listed on the exchange, according to the company’s roadmap. The token is referred to as an “essential resource of the Treasure metaverse,” which is a decentralized non-fungible token (NFT) ecosystem designed for metaverse projects. A decentralized autonomous organization governs it.
Non-fungible tokens (NFTs) are used by the Treasure protocol to convert imagination into productive and profitable assets. As the protocol expands, it will connect more narrative bridges within the metaverse. The Treasure protocol’s goal is to empower communities to create and run their own decentralized metaverses.
The platform’s native token, MAGIC, is used to manage ecosystem activities. It is the only currency that can be traded on Treasure’s marketplace and serves as a reserve currency. Players in the ecosystem typically earn MAGIC by playing, mining, and participating in Bridgeworld, the ecosystem’s central metaverse location.
Following Coinbase’s listing announcement, the price of MAGIC increased by more than 120%, trading near $0.62 per token, up from around $0.28 late last month.
It’s worth noting that the exchange hasn’t yet listed MAGIC and may not do so fully. However, the exchange has added the decentralized governance platform Aragorn ($ANT) and Ethereum staking pool Rocket Pool ($RPL) to its listing roadmap.