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About Illuvium (ILV)
Illuvium is a decentralized role-playing game (RPG) that doubles as a non-fungible token (NFT) collection, all of it built on top of the Ethereum blockchain.
Considered crypto’s first true blockbuster blockchain video game, Illuvium is set to be released on PC and Mac later in 2022. It’ll feature a play-to-earn (P2E) format in which players conquer digital creatures and then convert them into freshly minted NFTs. The protocol employs Immutable X’s layer-2 scaling engine so as to mitigate gas fees and optimize in-game transitions in terms of speed/scale.
Key to Illuviums’s functionality: “Illuvials.” These are the in-game creatures that players battle and can ultimately capture. A successful capture results in a new NFT representing the Illuvial being minted and placed into the player’s wallet, Messari explained. NFTs can be earned or purchased within the field of play for use in battles; they can also be sold via the IlluviDEX and other NFT marketplaces.
ILV is the game’s native digital asset. It is a means of decentralized governance via a Decentralized Autonomous Organization (DAO). ILV is also used to reward players for various in-game achievements, such as completing quests.
Illuvium also aims to feature decentralized finance (DeFi) functionality through its liquidity mining program which lets players stake ILV to the protocol for an annual yield.
In the first quarter of 2022, select players were testing the game in private beta.
"Illuvium aims to become the first AAA project among DeFi games," Cointelegraph said.
How is the price of Illuvium determined?
ILV’s price is partially a function of the token’s deflationary nature. According to Illuvium’s whitepaper, only 10 million ILV will ever be minted; some 651,450 are currently in circulation. Additional ILV will be distributed in the form of rewards doled out during in-game activities and also via staking.
Why does Illuvium have value?
If Illuvium does turn out to be blockchain’s first “triple-A” rated video game, that’ll get noticed. It’ll come down to crypto gamers being impressed or not – whether their user experience meets expectations – making Immutable X’s layer-2 scaling engine all the more crucial. Will the game receive mainstream accolades? That remains to be seen; these things are hard to predict, which in itself is why it very well could take off. Given ILV functionality within the game, demand for the token could rise, were success to happen. Additionally, Illiuvium’s liquidity mining program allows players to earn a token-based yield on their digital assets.
What are the main benefits of Illuvium?
- Illuvium is generally considered to be blockchain’s first AAA (big budget, high profile) video game.
- Illuvium allows players to earn unique NFT-based creatures called “Illuvials” that can be sold or traded via the IlluviDEX and other marketplaces.
- Illuvium employs Immutable X’s layer-2 scaling engine to operate at scale and speed.
- Users can earn ILV for a range of in-game achievements and stake the token for an annual yield.
How to buy Illuvium (ILV)
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