Illuvium Raises $12 Million in Series A Funding Round
Illuvium, the blockchain gaming platform, has successfully raised $12 million in a Series A funding round led by King River Capital, Arrington Capital, Spartan Capital, and Animoca Capital. The round also saw participation from P2 Ventures, Nomura’s Laser Digital, 32-Bit, and Seven Capital. With this latest injection of funds, Illuvium has now raised a total of $60 million in funding. Just a few months ago, the company secured $10 million in a venture round led by Framework Ventures.
This significant fundraising milestone comes at a crucial time for Illuvium as it gears up to launch its first series of interconnected games in the second quarter of 2024. The Illuvium gaming universe consists of three interconnected titles, all designed to seamlessly utilize the same non-fungible tokens (NFTs) across all games.
Revenue-Sharing Model and Unique Tokenomics
What sets Illuvium apart is its unique revenue-sharing model. The platform’s native token, $ILV, plays a central role in the ecosystem as stakers receive 100% of the in-game revenues. This concept has drawn immense interest and excitement from investors and players alike, with Illuvium’s Co-founder and CEO, Kieran Warwick, highlighting the appeal of redirecting all in-game revenues to staked investors.
Impressive User Base and Success
Illuvium has already attracted an impressive user base, boasting over a million registered users. The company is no stranger to success, having generated a substantial $72 million in 2022 from the sale of land plots.
Illuvium Zero and Interconnected Economy
In addition to its main games, Illuvium also offers “Illuvium Zero,” a mobile game that allows landholders to produce fuel, which serves as an essential resource across all game titles. This unique and interconnected economy mechanic not only adds depth to the gameplay experience but also encourages strategic decision-making among players.
With its successful funding round, Illuvium is well-positioned to further develop its interconnected gaming ecosystem and capture the attention of blockchain gaming enthusiasts worldwide. As the industry continues to grow and evolve, Illuvium is proving itself to be a frontrunner in revolutionizing how players interact with NFTs and participate in the gaming economy.
Analyst comment
Positive news. With $12 million raised in a Series A funding round, Illuvium now has a total funding of $60 million. It is set to launch its first series of interconnected games in Q2 2024, and its unique revenue-sharing model and impressive user base have attracted investors. Illuvium is poised to develop its gaming ecosystem and revolutionize NFT interaction and gaming economy.
