Decentralized online game ecosystem Treasure DAO is restructuring as “a matter of survival” to increase its monetary runway to at the very least February 2026.
Treasure DAO’s chief contributor John Patten says in an April 2 video posted to X that he has resumed a management position and is taking a plan to the DAO to streamline operations, get rid of pointless prices, and heart the group round just a few key initiatives.
“I’ll introduce this in spite of everything of you present your opinions at the moment. I’ve my very own ideas, however we should make this determination as a group via lengthy deliberation. The very best concepts must rise to the floor,” he stated.
As a part of cost-cutting to scale back Treasure DAO’s annual burn charge of $8.3 million, Patten says 15 contributors have both left or been laid off, and sport publishing assist and the treasure chain will likely be terminated.
On the identical time, he’s proposing to withdraw an idle $785,000 from the market maker Flowdesk to extend the DAO’s treasury.
Patten says that, with the present runway, “stablecoins will final till roughly December,” but when the DAO approves withdrawing the funds from Flowdesk, this may very well be prolonged to February 2026, in “an optimistic situation.”
The DAO’s present treasury solely has $2.4 million left, and the ecosystem fund holds 22.3 million MAGIC, valued at $2.3 million, in line with Patten, and if “Magic falls,” the DAO is “unsustainable someday between December and February.”
Treasure DAO to refocus on 4 merchandise
Patten says the DAO additionally must focus its power on just a few key merchandise and future partnerships will likely be based mostly on income era for the DAO, the place customers of the platform might want to generate worth via token use.
“The DAO ought to formally decide to a targeted, streamlined method of 4 merchandise and 4 merchandise solely, {the marketplace}, Bridgeworld, Smolworld and AI agent, scaling know-how,” he stated.
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“That’s all that Treasure ought to be via 2025. Bridgeworld and Smolworld will likely be use circumstances to show how different initiatives make the most of magic market and our AI framework and again finish to run many, many brokers concurrently.”
TreasureDAO, launched in 2021, supplied providers to offer sport publishers entry to infrastructure and advisory providers to launch Web3-based video games.
Nonetheless, Patten says it “did not have a scalable enterprise mannequin” and hasn’t grown because the Arbitrum airdrop in March 2023.
The Treasure ecosystem token MAGIC is down 16.5% to $0.0872 for the final 24 hours, in accordance to CoinGecko. Total, the token has shed 98% after hitting its all-time excessive of $6.32 on Feb. 19, 2022.
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