Illuvium Raises $12M Series A in Preparation for Upcoming Expansion
Illuvium has successfully concluded its $12 million Series A funding round, advancing its mission to build an interconnected universe where players can seamlessly move across various games using NFTs.
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.
Total Funding $60M
With this recent funding injection, Illuvium's total funding reaches an impressive $60 million. The company previously raised $10 million in a seed investment round led by Framework Ventures in May 2023. This fundraising coincides with Illuvium's upcoming launch of its first interconnected game series, slated for release in Q2 2024, promising an experience reminiscent of the widely popular Pokémon Go.
Illuvium Gaming Universe
The Illuvium gaming universe comprises three interconnected games, 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 game revenue paid in the platform's native token, $ILV.
Kieran Warwick, Co-founder and CEO of Illuvium, emphasizes the significance of this revenue-sharing mechanism, stating, "Redirecting 100% of game revenue to staking investors is a major attraction for $ILV, resonating strongly with our community."
Over 1 Million Users
With over one million eager registered users awaiting the game's launch, Illuvium has garnered significant attention. In 2022, the company earned $72 million from land sales, demonstrating strong market demand for its products.
One standout feature of Illuvium is its unique gameplay mechanism called Illuvium Zero, a mobile game allowing landowners to produce fuel, a critical resource used across all games. This innovative approach promotes a connected economic system, enhancing strategic decision-making and commercial motivation driven by players within the gaming ecosystem.
Recent Developments and Partnerships
Alongside its latest developments, Illuvium has undergone significant management restructuring, appointing 20 industry experts such as Gabby Dizon (Co-founder of Yield Guild Games) and Robbie Ferguson (Co-founder and Chairman of Immutable). The management focus spans marketing, game development, strategy, and operations, aiming to closely collaborate with the community council influenced by $ILV token holders.
Illuvium recently launched on the Epic Games Store and announced a partnership with mainstream web2 esports organization Team Liquid. With over 230 million users, Epic Games Store is known for its web3-friendly stance, hosting prominent web3 titles like Gods Unchained, Parallel, Phantom Galaxies, and more.
As Illuvium gears up for its highly anticipated launch, the gaming community eagerly awaits the implementation of this groundbreaking joint venture into the NFT-based gaming universe.
More About Illuvium (ILV)
Built on Immutable X, Illuvium offers diverse gameplay styles including open-world adventures and competitive auto-battler creature collection modes, all supported by Ethereum's scalable network. Players embark on a journey through vast and varied landscapes to hunt and capture creatures known as Illuvials. Alongside their domesticated Illuvials, players are tasked with uncovering the causes behind a catastrophic deluge that devastated the world.
While Illuvium's core game is an open-world adventure featuring a part auto-battler and part creature collector, its web3 space extends beyond. This includes Illuvium Zero, a land-building game, and Illuvium Beyond, a PFP collection and customization game. All these distinct Illuvium projects will eventually connect at a future point.
Illuvium's Overworld RPG game will feature over 100 Illuvials to capture, each with unique attributes and strengths. Capture, upgrade, and merge two Illuvials to create a new one. Players can store their Illuvials on Shards, akin to a collectible card. These cards encapsulate the essence of Illuvials and can be traded on the market or gifted to friends.
Illuvium includes its own marketplace called IlluviDex, serving as a central point for all Illuvium-related transactions. The game also incorporates player governance through regular elections. By integrating various NFTs, including the $72 million worth of digital land NFT sales in June 2022, Illuvium underscores its notable position in the web3 gaming space.
Disclaimer: This is a sponsored post and does not constitute investment advice. The content does not belong to Gamefinity.
