Why Treasure’s Genesis Legions will be your key to generational wealth
In 2021 we have seen individual sales for bluechip NFT projects like CryptoPunks >$10m. While at first glance this number is mind-boggling, it reflects the fact that ultra high net worth individuals and institutions are investing significant portions of their wealth in non fungible assets which live on the Blockchain. This article will outline that Genesis Legions NFTs by TreasureDAO will top those sales, because they have one major differentiator to many NFT projects living on Ethereum mainnet: true utility within a GameFi economy.
What is Treasure, Bridgeworld and Legions?
Treasure is a decentralized NFT ecosystem on Arbitrum that is building a decentralized Nintendo and that is built specifically for metaverse projects. Every project listed on Treasure’s marketplace utilizes MAGIC in their respective metaverses, with each community inventing its own lore and storytelling for this resource.
The central metaverse in Treasure is a place called Bridgeworld, where MAGIC is emitted and harvested. Bridgeworld, the upcoming P2E game of Treasure, utilizes a three-part resource economy:
- $MAGIC (Power)
- Treasures (NFT | Resources); and
- Legions (NFT | Players)
Those three components will also be the basics for future projects build on top of the Treasure ecosystem.
What kind of different legions exists?
In general there are two kinds of different Legions available on the Treasure marketplace: Genesis Legions (Gen0) and Legions (Gen1). Apart from their art, the main difference is that Gen0 legions will never be inflated, while 300 additional Gen1 legions will be minted as part of future onboarding programs. Overall there are 5 different rarity classes:
- Ultra Rare: 5 1/1s
- Rare: 271 All-Class (38 different types)
- Uncommon: 50 Assassins (5 different types), 60 Spellcaster (6 different types), 60 Sieges (6 different types), 70 Fighter (7 different types), 130 Ranges (13 different types)
- Special Common: 540 Rivermen (7 different types), 711 Numeraires (8 different types)
- Common: 1,564 Common Legions (12 different types)
Legions were rewarded to the early members of Treasure during the first phase of farming (150,000 MAGIC for a rare Legion, 50,000 for an uncommon Legion and 15,000 MAGIC for a Common Legions). The 5 super rare 1/1 legions were handed out via a lottery, while the Riverman and Numeraire were handed out to people who migrated >5 Treasure fractions to Arbitrum (Riverman) and to the stakers of n Project (Numeraire).
Legions and their role in Bridgeworld and the upcoming Mine
The Treasure team always had a clear vision for Legions to be one of the integral parts of the Treasure ecosystem. On their Twitter channel and in their discord there were various teasers that those Legions will in fact be:
- act as staking multipliers for the upcoming mine, which will be released end of Jan 22 and
- will be mandatory to take part in the the Bridgeworld game.
Why Legions are not your usual L1 PFP NFTs
Currently Legions are traded on the TreasureDAO marketplace for around 2,800 MAGIC ($9,000) for a common Legion or 28,000 MAGIC ($90,000) for an All-Class Legions. While this seems a high price to pay, you have to take a step back and look at the bigger picture. In contrast to your usual L1 PFP NFTs like BAYC, Doodles or Cool Cats, Genesis Legions can be seen as tool to optimize your Return-on-Investment (ROI). Let’s do one example:
You currently own a portfolio of 50,000 MAGIC ($160,000). For the upcoming mine you now want to stake your MAGIC to earn a yield for the next 6 months. Let’s imagine this yield is around .15% per day, which would be similar to a 1-month lock & stake for the current Genesis mine. This would generate you about 13,500 MAGIC ($43,000) within 6 months.
Now let’s imagine you invest 2,800 MAGIC in a common Genesis Legion, stake it as well and you would get a 30% mining multiplier in return. You would then earn an additional 4,050 MAGIC and still own the Genesis legions after the 6 months have ended.
Important: The exact mining multipliers are not known yet and will be communicated in the upcoming whitepaper by TreasureDAO.
Legions as an asset for Sub-DAOs like Clocksnatcher
While Legions can be highly efficient to optimize your personal ROI, they can be even more important for Sub-DAOs and guilds. Since there are only 271 All-Class Genesis Legions are available in total, a guild could control a significant share of those Legions and then use it to optimize their shared Treasury or even offer mining as a service for community members, by letting them stake their MAGIC in the highly efficient Sub-DAO mine and then taking a fee for it.
Conclusion
NFTs and especially Genesis legions have a fundamental difference to your usual L1 NFTs and are a valuable asset in order to optimize your own or future DAOs investment strategies.
If you want to learn more about Treasure and the ClocksnatcherDAO, you can follow us on Twitter. We will provide more content in the future about Treasure and their innovative, cutting-edge products.
Author: Alex (fritten.eth), co-founder of ClocksnatcherDAO.
