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Illuvium, an open-world fantasy blockchain game, redefines play-to-earn by merging immersive exploration with strategic NFT creature collection and auto-battler mechanics. Fueled by the ILV token, it empowers players to capture, build, and battle Illuvials, unique monster-like entities within a thriving, player-owned economy.
Overview
Illuvium is a multi-faceted, blockchain-based gaming experience built on the Ethereum network, aiming to be the first AAA-quality title within the play-to-earn gaming space. Players engage in an open-world, 3D fantasy RPG adventure, exploring diverse landscapes to capture Illuvials, fascinating monster-like creatures with unique abilities and affinities.
While Illuvium incorporates elements of blockchain technology, its essence lies in the realm of fully realized video games. Accessed through a dedicated desktop application, it transcends mere gameplay by fostering a vibrant ecosystem of decentralized financial applications, including a yield farm and a decentralized exchange.
Players embark on a captivating journey across the vast expanse of Illuvium, engaging in thrilling battles with both Illuvials and fellow adventurers, completing intricate quests, and unraveling the threads of an enthralling communal narrative. Throughout their odyssey, they collect Illuvials, remarkable creatures whose diverse characteristics determine their rarity, combat prowess, and coveted status among collectors.
Capturing Illuvials grants players two assets: loyal companions for exploration and fierce fighters for turn-based battles against other players or AI. These creatures are represented as non-fungible tokens (NFTs), giving players full ownership and the ability to trade, sell, or breed them on the open market.
Players embark on a captivating journey across the vast expanse of Illuvium, engaging in thrilling battles with both Illuvials and fellow adventurers, completing intricate quests, and unraveling the threads of an enthralling communal narrative. Throughout their odyssey, they collect Illuvials, remarkable creatures whose diverse characteristics determine their rarity, combat prowess, and coveted status among collectors.
These enigmatic beings fall into five distinct classes: Empath, Fighter, Guardian, Rogue, and Psion, each imbued with an affinity for one of the five primordial elements – Air, Earth, Fire, Nature, or Water. Beyond these fundamental classifications, countless additional attributes, such as attack damage, attack speed, and a primal savagery, influence an Illuvial’s dominance in the crucible of combat.
Beyond the engaging core gameplay loop, Illuvium boasts other features like resource gathering, crafting, land ownership in the game’s decentralized metaverse, and participation in a governance system through the game’s native token, ILV. This combination of captivating visuals, deep strategic gameplay, and the potential for real-world financial gain through the ownership and utilization of in-game assets positions Illuvium as a potentially groundbreaking entry point for both traditional gamers and those interested in the intersection of gaming and blockchain technology.
Background
In 2020, Kieran and Aaron Warwick, brothers of Synthetix founder Kain Warwick, set out to revolutionize gaming with Illuvium. Their goal was to create a blockchain game that captivated both die-hard crypto fans and casual gamers alike. Illuvium wouldn’t just boast high-fidelity graphics, immersive soundtracks, and engaging gameplay; it would be a haven for player ownership and transparency. Here, in-game assets weren’t mere pixels – they were valuable possessions, freely traded and owned without hidden fees or intermediaries.
Embarking on its development journey in 2020, Illuvium has been steadily building its immersive world for over two years. Its progress reflects the timelines often seen in AAA game development, where meticulous crafting leads to polished final products. Currently, three distinct projects bring Illuvium to life: Illuvium Zero, a captivating prologue; Arena, where players hone their skills in thrilling battles; and Overworld, the vast open world awaiting exploration.
But the Illuvium team’s ambition extends far beyond these initial offerings. Whispers of six additional titles have danced on the wind, their details shrouded in exciting mystery. Co-founder Aaron Warwick has tantalized players with a glimpse of one such project – a heart-pounding first-person shooter set within the Illuvium universe. Whether these future titles will explore diverse genres or delve deeper into the existing world remains to be seen, but one thing is certain: Illuvium’s development roadmap promises a captivating saga unfolding over the years to come.
A dedicated team of over 40 individuals from across the globe brought Illuvium to life. Artists paint stunning landscapes, designers sculpt captivating mechanics, programmers breathe life into the digital world, writers pen enthralling narratives, and marketers spread the word. Despite spanning continents and time zones, this passionate team seamlessly collaborates through platforms like Discord, united by a single ambition: to redefine blockchain gaming and deliver an unforgettably unique experience.
Illuvium’s Key Milestones to Date:
Technical Development: Closed Alpha/Beta Phases: Successfully hosted closed alpha and beta testing phases, gathering valuable player feedback and iterating on gameplay mechanics.
Smart Contract Deployment: Successfully deployed core smart contracts for Illuvials (NFTs) and token (ILV) on the Ethereum blockchain.
Land Pre-Sale Completion: Conducted a successful land pre-sale within the Illuvium metaverse, generating significant community interest and funding.
Game Development: World Design & Art: Completed development of diverse open-world environments and a substantial portion of the game’s 3D art assets.
Illuvial Design & Balance: Created and balanced hundreds of unique Illuvial creatures with distinct abilities and synergies.
Turn-Based Battle System: Implemented and refined the turn-based battle system, including core mechanics and animations.
Community Engagement: Active Social Media Presence: Maintained a vibrant community across multiple platforms, including Discord, Telegram, and Twitter, fostering regular interaction and feedback.
Influencer & Media Partnerships: Partnered with prominent gaming influencers and media outlets to raise awareness and generate excitement for the project.
Esports Tournaments & Events: Hosted community-driven esports tournaments and events, further engaging players and showcasing the game’s competitive potential.
Commercial & Financial: Secured Funding: Gathered significant funding through strategic partnerships and token sales, ensuring continued development and future growth.
Market Recognition: Achieved notable recognition within the gaming and blockchain communities, garnering media coverage and industry awards.
Growing Market Traction: Experienced increasing demand for Illuvial NFTs and the ILV token, indicating strong community interest and potential future market value
Tokenomics
Within the Illuvium ecosystem, the $ILV token plays a multifaceted role, fulfilling two distinct functions. Primarily, it serves as a governance token, granting its holders voting rights to participate in the project’s decentralized decision-making processes. This empowers the community to directly influence the evolution of Illuvium, shaping features, resource allocation, and even the overall direction of the project. By holding $ILV, players become active stakeholders, their voices shaping the future of the ecosystem.
The initial distribution of Illuvium (ILV) tokens is as follows:
10.00% is allocated to Public investors
5.00% is allocated to Pre-seed investors
15.00% is allocated to Seed investors
15.00% is allocated to Team
15.00% is allocated to Treasury
30.00% is allocated to Yield farming
10.00% is allocated to In-game rewards
Below is the pictorial representation depicting the supply schedule of Illuvium(ILV)
Illuvium’s native token, ILV, embarked on its trading journey on June 30, 2021. Its total supply is capped at 10 million tokens, ensuring scarcity and potential value appreciation, while a predetermined inflationary mechanism regulates token generation over time. In-game rewards and yield farming incentives for ILV holders remain dynamic, adjusting based on user activity and the unlocking of earned rewards.
The Funding rounds for Illuvium(ILV) are as follows:
$500,000 was raised in the Pre-seed on Dec 2020 with an average price of $1
$1,500,000 was raised in the Seed on Jan 2021 with an average price of $3
$1,000,000 was raised in the Public Sale on 30 March 2021 with an average price of $90
Historical Token Sales
In the nascent stages of Illuvium’s evolution, two pivotal fundraising rounds laid the groundwork for its flourishing future. The Pre-Seed Sale, held in December 2020, served as a catalyst, with dedicated early investors seizing the opportunity to secure 500,000 ILV at a launch price of $1 per token. This initial injection of capital empowered Illuvium’s core contributors to translate their vision into reality. Building upon this momentum, the Seed Sale in January 2021 witnessed a surge in investor confidence, resulting in the distribution of 1.5 million ILV at a slightly higher price point of $3 per token. These early backers, not only providing crucial financial resources, but also showcasing a powerful vote of faith in Illuvium’s potential to blossom into a vibrant and captivating game world.
Treasury
Illuvium Treasury: A Cornerstone of Decentralized Governance
Within the Illuvium DAO structure, the Treasury occupies a critical position, serving as a tangible embodiment of the collective interests and decision-making power of the token holders. As a significant token holder itself, the Treasury exercises substantial influence over the Illuvium ecosystem, actively engaging in strategic actions that propel its continued growth and evolution.
These actions encompass a diverse range of responsibilities, including:
Allocating funds to Illuvium Labs, the primary development body behind the game, to ensure ongoing support for game development and maintenance.
Engaging third-party service providers with specialized expertise to address specific needs, such as marketing or security, further enhancing the ecosystem’s functionality and reach.
Through these carefully considered actions, the Treasury’s primary objective is to foster a thriving and sustainable Illuvium ecosystem. Its operations are fundamentally guided by the core principles of decentralization and community-driven decision-making, integral to the DAO model.
Vault
The Illuvium game economy functions around a core component: The Vault. This centralized repository facilitates the accumulation of all in-game revenue. Utilizing these funds, The Vault actively acquires ILV tokens on the open market. These acquired tokens are subsequently distributed amongst token holders, ensuring transparent and equitable profit-sharing. This mechanism plays a pivotal role in maintaining the Illuvium ecosystem’s stability and sustainability, while simultaneously incentivizing continued token holder engagement and participation in the game’s growth.
Yield Farming
Within the Illuvium game, Yield Farming serves as a dedicated mechanism for rewarding token holders who contribute to the ecosystem by staking their tokens. The reward structure takes into account various factors such as the lock duration, amount staked, and the chosen pool. This incentivizes long-term token commitment, ultimately promoting the Illuvium ecosystem’s stability and sustainable growth. Furthermore, Yield Farming fosters increased participation and bolsters the game’s economic attractiveness to potential token holders.
Use cases of ILV Token
Game Rewards and Incentives:
– In-game rewards: Players earn ILV tokens for successfully completing in-game activities, such as battles, quests, and achievements. This incentivizes active participation and engagement within the Illuvium universe.
– Staking rewards: Players can stake their ILV tokens in the Illuvium Vault to earn additional ILV or sILV (synthetic ILV) as passive income. This encourages long-term token holding and contributes to the ecosystem’s stability.
– Liquidity provider rewards: Users who provide liquidity to the IlluviDEX, the in-game decentralized exchange, can earn ILV tokens as an incentive for supporting the marketplace’s functionality.
Governance and Decision-Making:
– DAO participation: ILV token holders can participate in the Illuvium DAO (Decentralized Autonomous Organization) to vote on proposals and directly influence the game’s future development, governance rules, and resource allocation. This empowers the community and ensures a transparent decision-making process.
Utility and Access:
– Purchasing Illuvials and Items: ILV tokens can be used to purchase Illuvials (NFT creatures) and in-game items, such as consumables and cosmetics, on the IlluviDEX and other marketplaces. This fuels the in-game economy and allows players to customize their gameplay experience.
– Fee Payments: ILV tokens may be used for paying specific fees within the Illuvium ecosystem, such as gas fees for transactions on the Immutable X blockchain layer.
Investment and Value Appreciation:
– Active market participation: ILV’s listing on cryptocurrency exchanges facilitates its open trading, enabling market participants such as speculators and traders to engage in buying and selling activities. This active market presence introduces the potential for capital gains through price fluctuations, though it also carries inherent risks as with any other cryptocurrency.
– Exposure to Ecosystem Growth: ILV ownership provides indirect participation in the potential success of the Illuvium ecosystem. As its popularity and user base expand, ILV demand may rise, offering holders potential capital appreciation.
Market Statistcs
Market Cap: $325,811,255
Circulating Supply: 3,767,377 ILV
Supply Cap: 7,889,583 ILV
All-time High: $2,868.95 -96.99% May 29, 2021
All-time Low: $29.77 +189.89% June 22, 2021
Features and Functionality
- The Illuvium network is erected on the Ethereum blockchain and uses two ERC- 20 tokens ILV and sILV. ILV is the main tokens used to award players for their success in the game, participation in operation and generating unresistant income. sILV is a synthetic interpretation of ILV and can be used incontinently without any interruption to the game.
- Illuvium Network also uses NFTs to represent each creature and item in the game. These NFTs are called Illuvials, and they have different classes and affinities that affect their strengths and weaknesses in battles. Players can collect, customize, and trade their Illuvials on external NFT marketplaces
- Illuvium Network combines open-world exploration with auto-battler gameplay. Players can travel across a fantasy world, encountering and capturing Illuvials, completing quests, and engaging in battles with other players. The game will have both a free-to-play mode and premium subscriptions..
- Illuvium Network is a community-governed project that uses a DAO to allow token holders to vote on various aspects of the game, such as new features, balance changes, and revenue distribution. The game also has a vault that collects a portion of the fees generated by the game and distributes them to stakers.
- Illuvium Network is designed to be an interoperable blockchain game that can connect with other platforms and ecosystems, such as Chainlink, Immutable X, and Binance Smart Chain. This allows the game to leverage the benefits of scalability, security, and cross-chain compatibility.
Advantages of Illuvium Network
- High-quality graphics and gameplay: Illuvium is designed to be the first AAA, high-definition game in the blockchain space, with an open-world RPG genre and a vast world to explore.
- Play-to-earn model: Illuvium allows players to collect and battle creatures called Illuvials, which are represented as NFTs with different traits, abilities and classes. Players can trade, upgrade and enhance their Illuvials to generate in-game utility and real-life value.
- Leveraging Layer-2 Technology: Built upon the Immutable X Network, an Ethereum layer-2 scaling solution, Illuvium boasts zero gas fees and instant peer-to-peer trading for in-game assets, optimizing transaction efficiency and user experience.
- Empowering Player-Driven Evolution: Illuvium’s ILV token fuels a dual system of rewarding player accomplishments within the game and granting access to the shared Illivium vault. Beyond rewards, ILV empowers holders to actively shape the game’s future through participation in the Illuvium DAO, a decentralized governing body.
Risks and Challenges
- Competition:: Illuvium Network is not the only blockchain gaming project in the market. There are other popular games such as Axie Infinity, Decentraland, and The Sandbox that have established user bases and communities. Illuvium Network will have to differentiate itself from these competitors and attract new players with its unique features and gameplay.
- Technical issues: Illuvium Network is built on the Immutable X Network, a layer-2 solution that runs on the Ethereum blockchain. This means that Illuvium Network relies on the security and performance of both Ethereum and Immutable X. Any technical problems or vulnerabilities in these networks could affect Illuvium Network’s functionality and user experience. Illuvium Network will have to ensure that its game is compatible and scalable with these networks and that it can handle high transaction volumes and user demand.
- Illuvium Network navigates the dynamic and uncertain regulatory environment surrounding blockchain gaming and NFTs. There is an acknowledgement that the potential legal and tax complexities that may differ across jurisdictions. Consequently, Illuvium Network prioritizes strict compliance with relevant laws and regulations in all operating regions and user locations. Illuvium Network will also have to deal with the potential risks of fraud, money laundering, and cyberattacks that may arise from the use of digital assets.
- Illuvium Network’s ambitious vision faces a crucial test: securing widespread adoption. Onboarding users who are both enthralled by the game and intrigued by the blockchain ecosystem presents a series of potential hurdles. Bridging the knowledge gap and lowering technical barriers to entry are critical steps, but even then, retaining players requires a consistently captivating and rewarding gameplay loop. Failure to address these challenges could hinder Illuvium’s long-term sustainability and expose investors to significant risks.
How Illuvium Network Addresses Challenges
- Innovation: Illuvium shatters blockchain gaming norms. AAA visuals, captivating creatures, and open-world exploration forge an immersive universe. Hunt and capture Illuvials, unique crypto-collectibles you can trade for real-world gains. This play-to-earn masterpiece blends captivating gameplay with lucrative potential, redefining blockchain entertainment for both crypto enthusiasts and hardcore adventurers.
- Collaboration: Illuvium Network works closely with its partners and collaborators to ensure the quality and security of its game and platform. Illuvium Network has partnered with Immutable X, a leading layer-2 solution that provides zero gas fees and instant transactions for its users. Illuvium Network has also collaborated with other projects and platforms in the blockchain gaming and NFT space, such as OpenSea, Aavegotchi, and Chainlink, to integrate their features and services into its game and ecosystem.
- Governance: Illuvium Network is a decentralized and community-driven project that empowers its users and stakeholders to participate in its governance and decision-making. Illuvium Network has a native token called ILV, which is used for various purposes, such as staking, voting, and accessing premium features. ILV holders can influence the direction and development of the project by proposing and voting on various issues and initiatives. Illuvium Network also has a DAO (decentralized autonomous organization) that manages the funds and resources of the project in a transparent and democratic manner.
- Marketing: Illuvium Network invests in marketing and outreach activities to raise awareness and interest in its game and platform. Illuvium Network has a strong and active online presence, with various social media channels, websites, blogs, and forums where it engages with its users and fans. Illuvium Network also organizes and participates in various events, such as conferences, webinars, podcasts, and tournaments, where it showcases its game and features and connects with its potential and existing users. Illuvium Network also leverages the power of influencers and ambassadors, such as celebrities, streamers, and gamers, who can promote and endorse its game and platform to their followers and audiences.
How Illuvium is Secured
The Illuvium team explains that players’ assets are secured on the Ethereum blockchain, a vast network with robust protection due to its size and decentralization. They further assure that user-controlled wallets ensure complete asset control.
For increased transaction speed, Illuvium utilizes Immutable X, an L2 protocol built on top of Ethereum. This layer efficiently processes thousands of transactions per second, batches them, and verifies their validity. This verification occurs on the main Ethereum chain, inheriting its security and decentralization while enabling near-instant transaction processing.
Conclusion
Illvium is ready to revolutionize the blockchain gaming landscape. The new dual token system, combined with strong NFT integration and integration of blockchain gaming content, carefully creates an open-world RPG experience and provides a suitable platform for both casual players and DeFi enthusiasts. Illvium not only offers an adventurous experience, but also a way to explore the emerging potential of the virtual world and participate in the evolving job market. Its unique blend of game content, business models and technology makes Illuvium a leader in the next generation of blockchain gaming; ready for people to come and see and redefine the world of interactive entertainment.
Sources:
https://www.coingecko.com/en/coins/illuvium/tokenomics
https://docs.illuvium.io/illuvium-whitepaper/
https://coinmarketcap.com/academy/article/what-is-illuvium
https://illuvium.io/
https://cryptorank.io/ico/illuvium
https://zerocap.com/insights/articles/illuvium-blockchain-gaming/
