YGG Partnership Announcement: Illuvium
Illuvium, a fantasy battle game with an explorable world where players can capture NFT creatures, known as Illuvials, recently raised $5mil to grow the project including expanding the team with top talent from the game industry and the crypto world.
The investment round was led by Framework Ventures and gained financial backing by IOSG, LD Capital, Delphi Digital, YBB Foundation Ltd, Stake Capital, Moonwhale Ventures, Lotus Capital, Blocksync Ventures and Bitscale Capital.
In addition to the funds raised, Illuvium also announced a strong partnership network. Yield Guild Games is proud to partner with Illuvium along with Quantstamp, Bitcoin.com, Jason Choi of Spartan Group and crypto founder personalities Kain Warwick of Synthetix, Stani Kulechov of Aave, Anton Bukov of 1inch, and Santiago Roel Santos of ParaFi.
Why is YGG partnering with Illuvium?
Illuvium is in strong alignment with YGG’s vision to create the largest virtual world economy and accelerate the “play-to-earn” phenomenon to enable players worldwide to generate income by operating, selling and leasing in-game objects.
Like other NFT-based games that YGG already supports, such as League of Kingdoms, Illuvium incentivizes its players with a stake in the project by monetizing good gameplay with rewards.
During gameplay, Illuvials can be captured to gain power for ascending higher levels. Alternatively, they can be sold on an exchange to earn income in Ethereum cryptocurrency. In this way, Illuvium will offer yield-generation opportunities for members of YGG.
“We want to support the play-to-earn ecosystem and we want to get in as early as possible with the best new games that are driving this space forward,” said Gabby Dizon, co-founder of YGG. “We are not just buying assets, we are getting into early stage rounds to invest alongside important Venture Capital firms that are leading the way in NFT and DeFi investments,” said Dizon, who led YGG’s recent purchase of $100K worth of NFT virtual land estates to be developed and commercialised in Axie Infinity and The Sandbox.
The Illuvium DAO will pay ongoing rewards to staked token holders. Revenue is generated from within Illuvium through in-game fees and purchases of Illuvials on the IlluviDEX exchange.
“We’re incredibly excited to have YGG invest in us as we believe it is super important to stay focused on our target audience of gamers, not just DeFi investors,” said Kieran Warwick, co-founder of Illuvium. “By partnering with YGG, not only do we gain access to their community of play-to-earn gamers, but we also tap into their scholarship programs that have proven to be very useful for gamers that don’t have access to large amounts of liquidity,” he said.
What is Illuvium?
Founded last year by brothers Kieran and Aaron Warwick, Illuvium is a decentralised collection and autobattler game where players can immerse themselves in an explorable world that features NFT collectible creatures with four-dimensional-shading holographic NFT designs.
To date, most other NFT-based games have been based on two-dimensional artwork.
The Ethereum-based game is being built on a hyper-scalable layer 2 solution called Immutable X, which has no gas fees for minting and exchange, and sub-second transaction times. This will allow the game to offer NFTs at different prices, with some offered at much lower prices than other platforms, which are forced to maintain expensive prices due to high gas fees.
The game is a strategic autobattler, also known as auto chess, is a subgenre of strategy video games that features chess-like elements where players place characters on a grid-shaped battlefield during a preparation phase, who then fight the opposing team’s characters without any further direct input from the player.
For more information on Illuvium, see the following article by Dean Takahashi at VentureBeat:
Or this seed raise announcement posted at Illuvium’s Medium:
Illuvium plans to launch its Balancer Smartpool Launchpad on March 30.