Key Takeaways
- Illuvium has raised $12 million in a Series A funding round led by Arrington Capital, Animoca Brands, King River Capital, and Spartan Group.
- The funding is allocated towards the development of new titles within the Illuvium ecosystem.
- Illuvium promises a groundbreaking gaming universe with AAA-quality blockchain game & innovative NFT integration, and unique revenue-sharing model.
- This round brings the total funding for Illuvium to $60 million.
Blockchain gaming studio Illuvium has raised $12 million in a Series A funding round. The round saw notable investment firms such as Arrington Capital, Animoca Brands, King River Capital, and Spartan Group leading the charge, alongside contributions from a host of other distinguished investors including GoldenChain, Arca, Seliní, Laser Digital, P2 Ventures, Seven Capital, 32-Bit, and Yield Guild Games.
This latest round brings Illuvium’s total funding to an impressive $60 million to date, earmarking the company as a burgeoning powerhouse in the gaming industry.
The injection of new capital is earmarked for the development of new gaming titles within the Illuvium ecosystem. Illuvium Labs has distinguished itself through its AAA-quality aspirations and remarkable development pace, focusing on creating an immersive gaming experience with shared NFT assets at its core.
After a comprehensive development journey spanning over 3 years, Illuvium said that it is all set to launch an interoperable gaming universe in the next 3 months. This universe is comprised of three interconnected titles, all designed to utilize the same NFTs across games seamlessly, offering a pioneering experience to players worldwide.
Illuvium’s unique approach includes a revolutionary revenue-sharing mechanism, where protocol stakers benefit directly from 100% of in-game revenues.
Kieran Warwick, Co-founder and CEO of Illuvium, highlighted the model’s appeal, stating, “The concept of redirecting 100% of all in-game revenues to staked investors resonates strongly with our community.”
Warwick’s vision for this model extends beyond Illuvium, potentially setting a new standard for revenue distribution in decentralized organizations.
The anticipation for Illuvium’s launch is palpable, with over 1 million registered users eagerly waiting. Drawing comparisons to this year’s hit game Palworld, which grossed nearly $500 million, Illuvium is expected to captivate a similar audience with its creature capturing and battle mechanics, enhanced by the integration of NFT technology. This integration not only adds a layer of ownership for players but also complements their gaming experience with investment opportunities.
A particularly novel aspect of the Illuvium universe is Illuvium Zero, a mobile game where landholders produce fuel, a critical resource across Illuvium’s titles. This mechanic fosters an interconnected economy, promoting strategic trade and decision-making among players.
Additionally, Illuvium mentioned that its development team is working on a new multiplayer arena feature, exploring an 8-player mode that could rival popular games like Team Fight Tactics.
Illuvium recently announced an upgrade to its Governance System with integration of specialized committees to infuse the Main Council with diverse, industry-specific insights. Illuvium DAO’s inaugural committee selection was an impressive mix of DeFi founders, regulatory experts, and GameFi innovators.
Illuvium’s mission to launch the first AAA-quality game in the blockchain space is a testament to its ambition to bridge the gap between traditional gaming and the nascent crypto gaming market.
With plans for an airdrop worth over $25 million for the game’s community, Illuvium is not just aiming for success but is setting the stage for a new era of blockchain gaming that emphasizes quality, engagement, and interoperability.
Read Also: Illuvium DAO Launches Groundbreaking Customizable NFT Collection, Illuvitars
