6 months ago
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Illuvium attracts $12 million in backing to fuel launch of hotly anticipated NFT gaming franchise
Blockchain gaming startup Illuvium has raised $12 million in Series A funding ahead of the launch of its highly anticipated franchise of interoperable titles, according to a Mar. 27 announcement. The funding round drew support from major institutional investors including King River Capital, Arrington Capital, and Animoca Brands.
The influx of funding will help boost the development of additional gaming titles within the Illuvium ecosystem in its quest to set new quality standards for blockchain-based gaming.
“The concept of redirecting 100% of all in-game revenues to staked investors is a major draw for ILV, resonating strongly with our community,” said Kieran Warwick, CEO and co-founder of Illuvium.
Illuvium has an innovative revenue-sharing model where protocol stakers receive 100% of revenues from in-game purchases, establishing an appealing investment structure.
Over 1 million registered users eagerly await the launch of Illuvium’s gaming universe. The titles will allow players to utilize non-fungible tokens (NFT) seamlessly across multiple interoperable games, promising a first-of-its-kind experience.
One of these games is Illuvium Zero, a mobile title in which landholders produce fuel, which is an essential resource across Illuvium’s game titles. The aim is to create an interconnected economy that encourages strategic decision-making and trade among players as fuel becomes a pivotal commodity within the gaming ecosystem.
Moreover, there are rumors surrounding the crypto community about an airdrop planned for the Illuvium gamers’ community, and the estimated amount is over $25 million.
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