Illuvium (ETH: $ILV) is touted as the world’s first AAA NFT Gaming platform. How well does it hold up to that claim?
Illuvium is a blockchain-based gaming platform based around the gameplay first popularized by Axie Infinity. However, it is more refined and offers a better gaming experience for the masses. It perfectly combines NFT, a detailed virtual environment, and much more to offer the best user experience.
Bringing High-Quality Gaming to the NFT World
Illuvium’s developers aim to create high-quality gaming for the NFT world. Today, most NFT games have basic graphics design and offer limited interaction opportunities. While games like CryptoKitties helped to demonstrate the potential of blockchain gaming, they are not competitive with mainstream games. Illuvium aims to offer the NFT gaming world a more immersive experience with endless fun.
One reason gaming on the blockchain has been slow is scaling. Illuvium has solved the issue by adopting a layer-2 solution on Ethereum. The layer-2 solution is known as Immutable X, and it greatly improves the performance of the games. It ensures gamers can enjoy the security of Ethereum while enjoying high-quality, fast-paced gaming. Another major advantage of the Immutable X protocol is no gas fees.
The Illuvium Game Backstory
The Illuvium world is a blockchain-based play-to-earn RPG and auto battler. It is a world inhabited by the illuvials. The players’ goal is to capture the illuvials in battle and use them to battle other players in upcoming adventures. Players can explore the expansive Illuvium world, while building teams of powerful illuvials.
The Gaming Roster
Illuvium has been in development since 2020. It is working on three games. These are Illuvium Arena and Overworld, which both remain in private beta since December 2022. There is also Illuvium Zero, with an alpha version currently available on the Windows, Mac, and Android platforms.
The games are designed to be easy to play, even for those without NFT or blockchain expertise. Illuvium’s games are designed to work like other well-known RPG games, with the added benefit of owning in-game assets and earning during gameplay. The gaming world is designed so anyone can join without KYC requirements. The only requirement is an Ethereum-compatible wallet.
The Illuvium Ecosystem Tokens
$ILV
The main token of the Illuvium platform is the $ILV token. It is a utility token with numerous use cases within the ecosystem. The first is a reward mechanism for in-game achievement. Additionally, $ILV are governance tokens.
According to CoinMarketCap, $ILV was launched with a maximum supply of 9.6 million tokens. With 6 million $ILV initially distributed, there are another 4 million locked to be slowly released over three years. The Illuvium platform also has a burning mechanism, with over 300K $ILV tokens burned so far.
$ILV has been quite successful since its launch. The price peaked in December 2021, when the price of 1 token was around $1,846, with a market cap of over $1.1 billion. Its price has since fallen nearly 98% to just $40. However, the games are still in development, and interest remains high. Illuvium has 380K followers on Twitter alone, and development work on its games is ongoing. As its games come online, it will result in renewed interest in $ILV tokens, leading to a massive price increase.
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sILV
The synthetic ILV (sILV) token is the Illuvium ecosystem’s second token. When gamers receive $ILV rewards, they can stake them via the yield farming system. These staked $ILV tokens are locked for one year before they can be withdrawn. Gamers can skip the staking lock-up by converting their $ILV to sILV tokens. The sILV tokens can be redeemed for their USD equivalent, which can be spent to purchase in-game items. However, sILV cannot be withdrawn from the game.
Illuvium Is Leading the Charge in AAA NFT Gaming
Many gamers have been waiting to play in an AAA NFT game. Illuvium is working hard to make this a reality. As it stands, it is one of the most advanced blockchain-based NFT titles. With such a promising outlook, it would be no surprise is $ILV could become one of the most valuable blockchain games in the world.
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