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Illuvium Raises $12M Series A for NFT Gaming Universe

Illuvium, a blockchain gaming platform, secures $12 million in Series A funding to launch interconnected games in Q2 2024, leveraging NFTs seamlessly across titles.

Eliza Crichton-Stuart author picture}

Eliza Crichton-Stuart

Head of Operations

Illuvium Raises $12M Series A for NFT Gaming Universe

Illuvium has successfully closed a $12 million Series A funding round, propelling its mission to construct an interconnected universe where players can traverse seamlessly with Non-Fungible Tokens (NFTs) across various games. The funding round was led by prominent investors including King River Capital, Arrington Capital, Spartan Capital, and Animoca Capital, alongside participation from P2 Ventures, Nomura’s Laser Digital, 32-Bit, and Seven Capital.

Illuvium Raises $12M Series A for NFT Gaming Universe

Total Funding $60 Million

With this recent injection of capital, Illuvium's total funding reaches an impressive $60 million. The company had previously secured $10 million in a venture round led by Framework Ventures in May 2023. The timing of this fundraising coincides with Illuvium's imminent launch of its inaugural series of interconnected games, scheduled for release in Q2 2024, promising an experience reminiscent of the widely popular Pokémon Go.

The Illuvium gaming universe comprises three interconnected titles, all designed to seamlessly integrate NFTs across the entire gaming ecosystem. Notably, Illuvium has introduced a unique revenue-sharing model where stakers receive 100% of the in-game revenues paid using the platform’s native token, $ILV.

Illuvium Graphic.jpg

Kieran Warwick, the Co-founder and CEO of Illuvium, highlighted the significance of this revenue-sharing mechanism, stating, “Redirecting 100% of all in-game revenues to staked investors is a major draw for ILV, resonating strongly with our community.” He also emphasized its potential to set a precedent for future initiatives, suggesting it could gain traction across decentralized organizations within the industry.

Over One Million Users

With over a million registered users eagerly anticipating the game's launch, Illuvium has garnered significant attention. In 2022, the company generated $72 million from selling land plots, indicating a robust market demand for its offerings.

illuvium land sale web3

One of the standout features of Illuvium is its unique gameplay mechanic known as Illuvium Zero, a mobile game enabling landholders to produce fuel, a crucial resource utilized across all game titles. This innovative approach fosters an interconnected economy, promoting strategic decision-making and player-driven trade dynamics within the gaming ecosystem.

In tandem with its latest developments, Illuvium has undergone significant governance restructuring, appointing 20 industry experts like Gabby Dizon (Co-Founder of Yield Guild Games) and Robbie Ferguson (Co-Founder and President of Immutable). The enhanced governance structure introduces four committees focusing on marketing, game development, strategy, and operations, aiming to collaborate closely with the community council, influenced by $ILV token holders.

Illuvium Gov.png

Illuvium also recently debuted on the Epic Games Store and announced a partnership with the mainstream web2 esports organization Team Liquid. With over 230 million users the Epic Games Store is known for its web3-friendly stance, hosting prominent web3 titles such as Gods UnchainedParallelPhantom Galaxies, MetalCore, Apeiron, My Pet Hooligan, Superior, The Machines Arena, Blankos Block Party, Grit (GALA), Last Remains, Cards of EternityMars4, and more. 

As Illuvium gears up for its highly anticipated launch, the gaming community eagerly awaits the unfolding of this groundbreaking venture into the realm of NFT-based gaming universes.

More About Illuvium (ILV)?

Built on Immutable X, Illuvium offers diverse gameplay styles, including an open-world adventure and competitive auto-battler mode, all powered by Ethereum's scaling network. Players journey across a vast and varied landscape to hunt and capture creatures, or Illuvials. Together with their tamed Illuvials, players are tasked with discovering what caused the cataclysm that shattered the world.

Though the core Illuvium game is an open-world adventure game that is part auto-battler and part creature collector, the Illuvium web3 space encompasses much more. This includes Illuvium Zero, a land-based builder game and Iluvium Beyond, a PFP collecting and editing game. All of the various Illuvium projects will interconnect at some point in the future.

Tokenizing In-Game Assets - Illuvium example

Illuvium Overworld, the open-world, RPG, will feature over 100 Illuvials to capture, each with different attributes and powers. Capture them, upgrade them, and combine two Iluvials to fuse a new one. Players can store their Illuvials on Shards, a bit like a collectible card. These cards hold the essence of an Illuvial. Players can trade shards in the marketplace or give them to a friend.

Illuvium has its own marketplace known as the IlluviDex. This serves as a central point for trading all things Illuvium-related. Illuvium also includes player governance in the form of a Council that goes through regular election periods. The game's incorporation of various NFTs, including a $72 million digital land NFT sale in June 2022, highlights its notable position in the web3 gaming space. To learn more, visit the Illuvium website, follow them on Twitter, and join their Discord chat.


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updated:

March 27th 2024

posted:

March 27th 2024

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