Illuvium is an upcoming fantasy role-playing game developed on the Ethereum blockchain by a decentralized autonomous organization (DAO) called Illuvium DAO. The game was first announced in January last year and described as a decentralized NFT collection and auto-battle game built on the Ethereum network.
Watch this video until the end to see everything you need to know about this project. Additionally, you will understand why we believe that it is possible to earn NFTs just by playing this game.
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In Illuvium, players are immersed in a 3D open world to explore and capture deity-like beasts called Illuvials. The Illuvials that players collect are represented as NFTs on the Ethereum blockchain with real-world value. Players use the Illuvials they have collected to fight other players to earn Ether (ETH).
Illuvium is an upcoming blockchain-based role-playing game built on the Ethereum blockchain.
Players explore a 3D open world in search of creatures called Illuvials that they can collect and use to fight other players.
The game uses a play-to-win model where Illuvials are represented on the Ethereum blockchain as NFTs, and winning battles against others earns players ether.
Illuvium is said to be the first AAA blockchain-based video game of this scale to date, making it a milestone in the space.
In addition to the main Illuvium game, there is Illuvium Zero, a construction game that allows players to create their industrial complex that can interact with the main Illuvium game. Illuvium Zero adds a land component to Illuvium similar to other metaverse real estate markets such as Decentraland or Sandbox. Land in Illuvium Zero is procedurally generated and players must cultivate resources on their land to build their complex.
Illuvium is believed to be the first AAA blockchain-based video game. Previous iterations of blockchain-based video games such as CryptoKittes and Axie Infinity were limited in scope in comparison. Illuvium's success could result in the adoption of these blockchain-based play-to-earn mechanisms across a much larger portion of the gaming landscape.
Existing games with massive player bases such as Fortnite, Call of Duty: Warzone, Apex Legends and more are all free to play and rely on selling skins and items, all of which could be turned into NFTs with real-world value.
The Illuvium game has two ERC-20 crypto-currencies called ILV (Illuvium) and sILV that help power the game.
The ILV token allows holders to participate in the performance farming, staking and governance of the Illuvium DAO. Those who wish to wager their tokens have the option of receiving ILV or sILV rewards.
If holders choose to receive ILV, the rewards have a one-year lock-in period. This lock-in period ensures that trading pairs between ILV and other coins maintain high liquidity. Those who choose to earn sILV will receive rewards immediately with no lock-in period, although sILV can only be used for in-game purchases. Several revenue streams, including in-game purchases, are used to fund the rewards of those who stake ILV.
How to stake Illuvium?
ILV token holders can stake their tokens to earn network rewards. 100% of the game's revenue is returned to ILV token holders who stake their coins on the network. As mentioned, ILV is subject to a 12-month lock-in period, while sILV can be claimed at any time for use in the game.
Staking ILV will require a compatible Ethereum wallet. One of the most commonly used Ethereum wallets in the DeFi space is the MetaMask wallet browser extension, as it allows users to easily connect to various DeFi platforms. Those looking to stake their ILV will simply need to send their tokens to a MetaMask or equivalent MetaMask wallet, then head to the Illuvium staking site and connect the wallet with their ILV tokens.
Stakeholders can then choose the "basic pools" option and follow the on-screen instructions from there. It is important to note that the publication of staking rewards has been temporarily suspended until the launch of Staking V2. Rewards will continue to be calculated for those who continue to wager and calculated rewards will be carried over to the start of Staking V2 in the coming weeks.
ILV has a maximum supply of 10,000,000 tokens and a current outstanding supply of nearly 650,000. ILV tokens were distributed in series starting in December of last year. Illuvium DAO sold 20% of the tokens in the initial rounds. Subsequently, 15% went to developers, 15% to the treasury, 10% was allocated to a launchpad for future investors and 30% was dedicated to performance farming. The remaining 10% will go to in-game rewards.
Illuvium (ILV) can be purchased on several exchanges including Sushiswap, Binance, KuCoin and many others. We suggest you check CoinmarketCap for a complete list.
If you want us to make a tutorial to show you how to buy it step by step, feel free to reply in the comments section, and we will be happy to help you.
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