This is the stereotypical dispenser of goodies in many games, especially of the classical Role-Playing Game variety.
Some come locked, and the lock must be picked or destroyed.
Many have traps, which must be disarmed or triggered, sometimes damaging their contents.
Some are ruses disguised as treasure chests, but attack adventurers when they're touched.
Treasure chests come in many forms. While the usual depiction is of a metal girded wooded box with a flip-top lid, many games use the treasure chest concept while defying the cliche image. Games such as the Phantasy Star series (II and onward) or the Knights of the Old Republic series have trapped and untrapped receptacles which contain useful items and money. By most accounts, that would be considered a treasure chest!
In the Mario Party series, treasure chests appear in various minigames and places on the board that will help the player during the series. For example: In the Mario Party 7 minigame Treasure Dome!, the player must open all 5 treasure chests in order to win.