Illuvium

Illuvium is a full-fledged video game with blockchain-based elements providing a source of entertainment to both casual gamers and hardcore DeFi fans.

What is Illuvium? 

  • Illuvium is an open-world fantasy battle game built on the Ethereum blockchain providing a source of entertainment to both casual gamers and hardcore DeFi fans through a range of collecting and trading features.
  • The world of Illuvium is inhabited by creatures known as Illuvials, who can be captured by players that best them in battle and nurse them back to health. From then on, they become a loyal part of the player’s collection and can be used when battling other adventurers as part of Illuvium’s auto battler gameplay.
  • The game is a fusion between an open-world exploration game and a PVP battle game. Players can spend their time exploring the expanses of the game world or building up their team of powerful beasts.
  • The ILV token has a number of uses within the Illuvium ecosystem. It’s the main token used to reward players for their in-game achievements, entitles players to their share of the Illuvium Vault and is used for participating in the governance of the game via the Illuvium decentralized autonomous organization (DAO).

Key Metrics

TickerILV
Token NameIlluvium
Token Type/ProtocolERC-20
Total Token Supply7,00,000
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation Date2020
Can it be mined?No

Who is behind Illuvium?

Illuvium has been in development since 2020, and is being built by a worldwide team of more than 40 individuals, including the co-founders who are brothers: serial entrepreneur and early cryptocurrency adopter Kieran Warwick, and experienced game designer Aaron Warwick.

What is the purpose of Illuvium?

Illuvium was created for players with an immersive gameplay experience, and it is easy to play for players of any age. The game combines traditional RPG collection games, fight mechanics of the Auto Battler genre, and vast landscapes seen in open-world games.

Insights:

  • Illuvium is a full-fledged video game with blockchain-based elements. It’s accessed through a downloadable desktop app, but also has a range of supporting DeFi applications surrounding it — including a yield farm and decentralized exchange.
  • Players collect Illuvials, which have a range of characteristics that make them variable in their rarity, utility, and desirability, throughout their journey by roaming the Illuvium landscape battling Illuvials and other players, participating in quests and daily challenges, and participating in its communal storyline.
  • Each Illuvial is represented by a unique non-fungible token (NFT) and can be freely traded on external exchange platforms and the gas-free IlluviDEX,  Illuvium features a built-in decentralized exchange (DEX) platform.
  • The game will feature a variety of revenue streams, mostly derived from in-game purchases of items, crafting components, cosmetics and shard curing. 100% of this revenue is distributed as rewards to those staking the ILV tokens through an ILV buyback system.

Risks:

  • The number of competitors entering the blockchain gaming market can be considered a threat to Illuvium. 
  • Illuvium’s products are similar to other gaming blockchains. The fact that Illuvium is quite a new product means adoption  should be  of concern, as it will need to be outstanding to compete with others.

News and Updates:

  • The Animoca Brands-backed Warena project has announced a partnership with the Illuvium project to achieve cross-metaverse compatibility via a 2-phased approach. The partnership will allow cross-chain compatibility across gaming platforms.
  • Illuvium announced that the platform’s Discord hit 100,000 members from March to June 2021, which is a great milestone for Illuvium.
  • Illuvium had its Governance Council election from September to November 2021. To be able to vote in the Council Election, users must be a holder of ILV token. Elected Council Members will receive an exclusive NFT, which gives them the right to vote.

Community & Whitepaper Links:

Disclaimer  

All investments are speculative and involve substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment. 

Read more