White Star Capital Digital Asset Fund - newsletter #85
Illuvium, the future leader in Play-to-Earn?
Illuvium, the future leader in Play-to-Earn?
White Star Capital Digital Asset Fund - newsletter #85
What is Illuvium?
Illuvium is an upcoming fantasy role-playing game developed on the Ethereum blockchain by a decentralized autonomous organization (DAO) called the Illuvium DAO. The game, currently in Beta, was first announced in January of last year and described as a decentralized, NFT collection and auto battler game built on the Ethereum network.
In Illuvium, players are immersed in a 3D open world to explore and capture deity-like beasts called Illuvials. The Illuvials that players collect are represented with NFTs on Ethereum’s blockchain with real-world value. Players use the Illuvials they have gathered to battle other players to win ether (ETH). Illuvium is said to be the first blockchain-based AAA video game of this scope so far, making it a significant milestone in the space.
From F2P to P2E
Players begin Illuvium with a free-to-play experience in the Tier 0 regions of the world. These areas will help them learn the game and understand its mechanics. While Illuvium describes this as a “non-abridged” version, players will need to opt-in to the paid version to collect NFTs from higher-tiered regions.
Tokenomics
ILV has a max supply of 10,000,000 tokens and has a current circulating supply of nearly 650,000. ILV tokens were distributed in rounds starting in December of last year. Illuvium DAO sold 20% of the tokens in seed rounds. Following that, 15% went to developers, 15% went to the treasury, 10% was allocated to a launchpad for future investors and 30% was dedicated to yield farming. The final 10% will go to in-game rewards.
$72 million fundraising in digital land sales
The digital land was sold via dutch auctions from June 2 through June 5. The sale distributed 19,969 land plots, with roughly 282 plots going on sale every hour. The game will feature 100,000 land plots in total, with Illuvium planning to conduct more land sales in the future.
Illuvium’s land plots generate fuel and elements that power its gameplay. The auctioned plots are tiered between levels 1 and 4 according to their rarity and the volume of in-game resources they can produce. Landowners will receive 5% of in-game revenues generated by the plots.
The dutch auctions utilized Ethereum Layer 2 scaling solution, Immutable X, to minimize the gas fees associated with participating in the sales. Immutable also powers the Illuvium game. Warwick estimates that leveraging Immutable drove a 60% reduction in gas fees, with users paying approximately $20 per transaction on average. Future sales will be entirely held on Immutable X to further reduce gas fees.
Will this fundraising allow Illuvium to be the leader in play-2-earn? Maybe. In any case, this Trailer makes it clear that the game will be among the best of them:
🔦 White Star & Portfolio Spotlight
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🏦 Enterprises & Institutions
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English Premier League Files Crypto and NFT Trademarks
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⚖️ Government & Regulation
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Singapore Central Bank Ready To Try DeFi After Crypto Giants Leave for Dubai
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💰 Funding & Exits
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🚀 Project Launches & Updates
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🔥 Other Bits We're Excited About
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