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Illuvium Just Raised a Whopping $12M Series A Funding

TL;DR

  • Illuvium just recently closed a series A funding round with $12 million.
  • The company is focused on building an interconnected gaming ecosystem.
  • It restructured its governance by appointing industry experts in key roles.

Illuvium just recently closed its series A funding round with $12 million. Now the company is getting closer to creating an interconnected gaming ecosystem where players can use NFTs and enjoy various experiences.

A number of leading investors participated in the series A funding round, such as King River Capital, Spartan Capital, Animoca capital, and Arrington Capital. Along with that, other investors were also involved, including P2 Ventures, 32-Bit, Seven Capital, and Nomura’s Laser Digital.

If we add these funds to the previous total raised by Illuvium, the company has over a whopping $60 million for development. As of now, its gaming universe comprises three titles that are interconnected with NFTs. If you are a crypto gaming enthusiast, you’d particularly be interested in its unique revenue-sharing model that allows the stakers to receive 100% of the in-game revenue using $ILV.

But how many users does Illuvium have?

Back in 2022, Illuvium generated a revenue of $72 million from land plots. Hence, one thing is certain, that the demand for its lands do exist. As of now, more than 1 million users have registered and are awaiting the game’s release.

This is partly due to the fact that the company debuted on the widely popular Epic Games Store. Epic Games is already quite friendly and accepting towards Web3. We know this because it it has featured various Web3 titles in its store, such as Phantom Galaxies, My Pet Hooligan, and GodsUnchained. At the same time, Illuvium has partnered with Team Liquid as well, which is a famous esports organization.

What about its governance?

Well, it looks like Illuvium recently restructured itself. Based on recent reports, it has appointed industry experts in various roles, among which the most prominent are Gabby Dizon and Robbie Ferguson. They’re the co-founder of Yield Guild Games, and the President of Immutable, respectively.

Conclusion

While at its core, Illuvium is an open-world adventure game, its entire ecosystem is filled with a lot more. This includes Illuvium Zero, Illuvium Beyond, and more upcoming projects that will all be interconnected.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Shummas Humayun

Shummas is an aspiring Web 3.0 developer and a technical research writer interested in renewable energy, blockchain, and cybersecurity. He also enjoys coffee and gaming in his free time.

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