Illuvium Airdrop Hinted as Game Raises $12M Funding | BitPinas

Illuvium Airdrop Hinted as Game Raises $12M Funding | BitPinas

Time Stamp: March 28, 2024 5:50 AM
Source Node: 2528680
  • Illuvium has received $12 million in Series A funding led by King River Capital, Arrington, and Animoca Brands. 
  • Together with the announcement is a hint that a “significant airdrop” is planned for the Illuvium community, which is rumored to be worth more than $25 million. 
  • Illuvium Labs explained that though the game has been in the developing stage since 2020, it has been attracting investors and has already received a total of $60 million in funding.

Web3-integrated video game Illuvium has received $12 million in Series A funding led by King River Capital, Arrington, and Animoca Brands, Illuvium Labs announced. 

According to the developer, the funding secured will be allocated to developing new gaming titles within the Illuvium ecosystem, especially now that the game is already in early access and the launch is near. 

Together with the announcement is a hint that a “significant airdrop” is planned for the Illuvium community, which is rumored to be worth more than $25 million. 

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Illuvium Receives $12M Funding

Illuvium: Overworld Beta Features - Sneak Peak

In a statement, Illuvium Labs explained the reasons why it has been attracting investors even though the game has been in the developing stage since 2020 but has already received a total of $60 million in funding 

The first reason it emphasized is the studio’s “impressive pace of development,” especially with AAA aspirations, is one of the reasons that has attracted investors:

“Illuvium Labs is on the cusp of unveiling its interoperable gaming universe. It will feature three interconnected titles designed to utilise the same NFTs seamlessly across all games, promising a first-of-its-kind experience.”

Another possible reason is its revenue-sharing mechanism, where stakers in the protocol benefit directly from 100% of in-game revenues, establishing a rewarding investment model.

“Following an extensive 3.5-year development journey and $60 million in funding, Illuvium Labs is on the cusp of unveiling its interoperable gaming universe. It will feature three interconnected titles designed to utilize the same NFTs seamlessly across all games, promising a first-of-its-kind experience,” the developers wrote. 

Where for Illuvium CEO Kieran Warwick, his team’s vision to make this model applicable to decentralized organizations in the industry would set a precedent for future initiatives:

“The concept of redirecting 100% of all in-game revenues to staked investors is a major draw for ILV, resonating strongly with our community.” 

Thirdly, the team also recounted its continuous addition of game experiences for its players, highlighting their determination to really produce an AAA blockchain game. 

In fact, the game recently introduced a new multiplayer experience that features an arena-like gameplay. The team is also exploring an eight-player multiplayer mode. 

“A unique aspect of the Illuvium universe is Illuvium Zero, a mobile game in which landholders play a crucial role by producing fuel, an essential resource across Illuvium’s game titles,” the team expressed. 

“This novel mechanic creates an interconnected economy and encourages strategic decision-making and trade among players as fuel becomes a pivotal commodity within the gaming ecosystem.”

What is Illuvium?

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Also considered ‌the AAA game of the Ethereum network, Illuvium (https://illuvium.io/) is an open-world fantasy battle game that is a combination of an open-world exploration game and a PVP battle game.

“Illuvium is a collectible NFT RPG game and auto-battler rolled into one. There is an open-world RPG experience in the overworld, where you mine, harvest, capture, and fight Illuvials,” its website read. 

Within the game, the players would roam around the Illuvium world and catch Illuvials, which are in-game beings that could heal them once they battled against other players. Illluvials will then become part of the player’s collection and can be used when battling other adventurers as part of Illuvium’s auto-battle gameplay.

Each Illuvial is represented by an NFT and can be traded on IlluviDEX, the game own “gas-free” decentralized exchange. 

“Illuvium is on a mission to launch the first AAA-quality game in blockchain. It aims to bridge the gap between traditional gaming and the emerging crypto gaming market, setting a high standard for future titles and striving for mainstream adoption within the gaming community,” the game promoted.

Meanwhile, aside from trading NFTs, players can also earn through the game’s yield farming. In its tokenomics, a total of three million $ILV, the game’s in-game crypto, are allocated to the yield farming program as rewards.

As of this writing, about one million players have already registered for early access. 

“As Illuvium gears up for its launch, the spotlight will be on them. (We_ hope it will redefine the standards for blockchain gaming and establish a new industry benchmark for quality, engagement, and interoperability,” the team concluded. 

This article is published on BitPinas: Illuvium Airdrop Hinted as Game Raises $12M Funding

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