Two types of magic internet tokens are created for each market, which are long and short tokens. Long tokens benefit from the price appreciation 📈 of the underlying asset. Short tokens benefit from the price depreciation 📉 of the underlying asset.
I.e. Imagine the market is for Gold. If you buy $100 worth of long Gold tokens, and the price of Gold increase, the value of your token will increase.
These Magic Internet Tokens are ERC20 tokens using the Open Zeppelin library which are created dynamically whenever a new market is created.