Illuvium - Everything you need to know about ILV Token

Newzoo predicts global game revenue will hit $200 billion in 2024. Therefore, GameFi's growth potential is still enormous. Discovering investment possibilities in the GameFi is critical right now.

In this article, we would like to introduce Illuvium known as a fully decentralized RPG (Role-playing game) and collection game. We'll be covering the following topics:

• What is Illuvium? How does Illuvium work?
• ILV Tokenomics and How/Where to earn and store ILV tokens?
• Roadmap & Updates.
• Team members, Investors, and Strategic Partners.

Let's explore the potential of ILV!

What is Illuvium?

Illuvium, a fully decentralized protocol, represents a new age in gaming. It was built from the ground up to ensure the long-term viability of the Illuvium game and governance, as well as to offer players an AAA-rated blockchain gaming experience.

How does Illuvium work?

Connect with Immutable X

The cost of completing transactions on the Ethereum network is one of the main difficulties that NFT applications and users are now facing.

In addition, due to the limited number of transactions that Ethereum can process, users have bid up gas fees to ensure that their transactions settle promptly. Trading volume for NFTs has decreased as the average cost of transferring an NFT has risen to $20-$30 at the time of writing.

Immutable X changes the above concerns by allowing users to use a Zero-Knowledge (ZK) Rollup to trade their NFTs without paying gas fees.

The emotional connection between the players and NFTs collection

You'll come across wild, mysterious, and violent animals known as Illuvials inside Illuvium. You hunt, defeat, and capture them as you travel through the many regions of this broken planet.

This is a technique for creating an emotional connection between players and their collections. It makes the journey to obtain NFTs more interesting for gamers.

Currently, ILV has not released the game, they just launched some features such as NFTs, Staking. In the future, ILV will launch features like IlluviDEX, LAND.

What is the ILV token?

ILV is the game's native token.

ILV Key Metrics

• Token Name: Illuvium.
• Ticker: ILV.
• Blockchain: Ethereum.
• Token Standard: ERC-20.
• Contract: 0x767fe9edc9e0df98e07454847909b5e959d7ca0e
• Token Type: Utility.
• Total Supply: 10,000,000 ILV.
• Circulating Supply: 634,934 ILV (6%).

ILV Token Allocation

• Pre Seed: 5% (500,000 ILV).
• Seed: 15% (1,500,000 ILV).
• Team: 15% (1,500,000 ILV).
• Treasury: 15% (1,500,000 ILV).
• Launchpad: 10% (1,000,000 ILV).
• Yield: 40% (4,000,000 ILV).

ILV Token Release Schedule

ILV Token Sales

• Pre Seed (500,000 ILV, $1 per ILV) in December 2020.
• Seed Sale (1,500,000 ILV, $3 per ILV) in January 2021.
• Balancer Liquidity Bootstrap Sale (1,000,000 ILV, $50 per ILV) in March 2021.

ILV Token Use Cases

• In-game currency: Users are able to purchase in-game items by using ILV tokens. ILV is used to reward players for in-game achievements.
• Staking: ILV holders can stake ILV in the Illuvium Vault. Stakers receive rewards in ILV.
• Governance: ILV holders will also have the opportunity to vote on how the game will be developed in the future.

How to get ILV Token

ILV can be obtained through the battle, quest, and ranking rewards. ILV will be distributed to users solely based on their use, activity, and contribution to Illuvium.

How to buy ILV Token

You can buy ILV on listed exchanges such as:

• DEX: SushiSwap,...
• CEX: Binance, Gate.io, OKEx,...

Alternatively, you can use Coin98 Exchange to swap other tokens for ILV by clicking the Swap button at the end of the article.

Learn more: How to use Coin98 Exchange

How to store ILV Token

You can store ILV on Coin98 Wallet with these steps:

Step 1: Open Coin98 Wallet & click Search Icon on the home screen.

Step 2: Search ILV Token.

Step 3: Click on the correct result at Receive Tab, copy the wallet address and send ILV to this address.

ILV Roadmap

• Initial Prototype - November 2020 (Completed).
• Transition to Unreal Engine - December 2020 (Completed).
• Token Smart Contract - February 2021 (Completed).
• First Cinematic Trailer - March 2021 (Completed).
• Yield Farm Contracts V1 - May 2021 (Completed).
• Auto Battler Trailer - August / September (In development).
• Yield Farm Contracts V2 - September / October (In development).
• Private Beta - Q4 2021 (In development).
• Public Beta Launch - Q1 2022.
• Illuvium: Zero - December 2021 (To be ratified).
• Mobile Release - 2022.
• Second Major Illuvium Title - 2023.

Team, Investors, and Partners

Team 

Illuvium was founded by a team with a lot of experience in the gaming and crypto markets.

• Kieran Warwick (Co-founder): Kieran participated in Blueshyft Exchange, The Burger Collective.
• Aaron Warwick (Co-Founder & Game Designer): Aaron is the Co-Founder, chief game designer, and story supervisor at Illuvium. He’s a consummate entrepreneur, with a background in sports and business.
• Basil Gorin (CTO): Basil has 15 years of experience in Web and Blockchain development, and developed ERC721 solutions for many companies in the Blockchain field.

Investors

In March 2021, Illuvium Closed a $5 Million Seed Round from Leading Venture Capital Firms such as IOSG Ventures, LD Capital, YBB Foundation, Delphi Digital, Stake Capital, Moonwhale, Ventures, Lotus Capital, BlockSync, Yield Guild Games, Bitscale.

Partners

As mentioned at the beginning of the post, Immutable X is an important partner of ILV: Immutable X is a layer 2 protocol for trading Ethereum NFTs that gives users instant trade confirmation, huge scalability (9,000 transactions per second), and zero gas fees without compromising user ownership.

Is Illuvium (ILV) a good investment?

Illuvium is a complex video game that players can battle other players to win valuable prizes, which makes Illuvium much more exciting, and means that ILV is a good investment because it has a lot of room for growth.

However, caution is always warranted in jumping on the latest trend or popular crypto, especially with a coin that's already up over 2,400% in a year. You have to ask yourself how much further it can realistically grow, and how much the price has been driven up by speculation.

As with any investment, it is important to do your own research and only invest money you can afford to lose. Evaluate whether you think the price can continue to increase. Make sure you understand the competition. Most importantly, don't buy ILV because you're scared of missing out, or because you hope it will produce more short-term gains.

Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.

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Conclusion

So I have provided you with the latest information from Illuvium and ILV Token. If you're interested in other GameFi besides Illuvium, please leave a comment below. Coin98 will research the projects and publish articles about them.

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