Treasure releases MagicSwap v2, a gaming DEX
Treasure has announced the release of MagicSwap v2, a one-of-a-kind decentralized exchange.
MagicSwap v2 exchange aimed at blockchain games
Treasure, a firm that focuses on blockchain-based gaming infrastructure, has revealed the debut of MagicSwap v2. The new platform is the first Automated Market Maker (AMM) that allows for the trading of both ERC-20s and Non-Fungible Tokens (NFTs) through a single interface, enabling players to trade all items within their game economies without the need to visit multiple marketplaces.
MagicSwap offers a unique, seamless user experience by incorporating NFT trading directly into games rather than requiring players to navigate an external ERC-20 interface. By integrating the protocol through in-game features such as NPC vendors and bazaars, MagicSwap allows players to fully immerse themselves in the game and focus on collecting NFTs instead of being distracted by token prices.
This release comes at a time when blockchain gaming is seeing significant growth, as more and more players are becoming interested in the unique capabilities of blockchain technology to create truly one-of-a-kind, collectible items that can be owned and traded in digital form.
MagicSwap v2 features a slew of features for blockchain gaming
MagicSwap has a built-in feature for automated royalties, which can be set for each pool during the pool creation process. The protocol will eventually be integrated into the Trove marketplace, allowing users to trade NFTs without having to interact with the automated market maker (AMM) directly.
MagicSwap’s royalty structure includes three tiers: a protocol fee, liquidity provider fees, and creator royalties. The protocol fee is determined by $MAGIC governance, while pools can set their own liquidity provider fees and creator royalties, with the DAO having the ability to set a minimum default for both.
The MagicSwap platform offers in-game marketplaces, eliminating the need for players to list items manually on external platforms. This feature not only minimizes the impact of miscalculated emissions but also absolves game developers from accusations of altering game strategies. Instead of manual adjustments, NPCs can be programmed to handle these changes.
Additionally, MagicSwap allows for easy and efficient trading through the ability to sweep multiple NFTs from pools with a single transaction fee, similar to Uniswap. This feature is not available on other NFT automated market makers. Users can even conduct unlimited sweeps of ERC-721s at the cost of a single purchase.
Blockchain gaming on the rise
Although innovative, MagicSwap’s recent development is only a speck of dust in the fast-growing blockchain gaming industry. The space is growing at a fast pace, with recent news creating immense hype and speculation around Yuga Labs’ new game, Dookey Dash.
However, the industry still has to face a lot of issues, including a lack of fun gameplay, quality graphics, and intuitive interfaces for non-crypto users. Another problem is the poorly designed tokenomics, which often prey on new players to keep the in-game economy going.
Furthermore, it seems most game developers aren’t interested in making the jump to GameFi and play-to-earn (P2E). A recent survey indicated that a majority of game developers (75%) and the studios they work for have no interest in utilizing blockchain technology.
While the industry holds immense potential, it will only be able to reach it if the quality of blockchain-based games improves and the interfaces are made simple, so non-crypto users can also participate without feeling overwhelmed.
