Illuvium is a decentralized NFT collection and automatic battle game built on the Ethereum network. The core mechanism is casting, destruction and trading. The defeated monsters can be cast into NFTs while upgrading monsters. Players can also cast the same type The monsters of the fusion together, thereby destroying the existing NFT and casting a more powerful monster NFT.
Written by: Karen
The NFT game project Illuvium will sell 1 million tokens through Balancer LBP (BLBP) at 23:00 tonight. Previously, the project received high attention in the crypto field due to the relationship between the founder and Synthetix founder Kain Warwick. The addition of the producer of “Arabic: Infinite” and the investments of Framework Ventures, IOSG Ventures and LD Capital have pushed Illuvium to a climax.
Before understanding the participation tutorial of Illuvium BLBP, let’s take a look at what kind of NFT game project Iluvium is? Why choose to start on Immutable X? What is the economic model of governance tokens?
What is Illuvium? What is the background?
Illuvium is a decentralized NFT collection and automatic battle game built on the Ethereum network. Illuvium began development in September last year, and according to the official website, it will be launched on Immutable X in the third quarter of this year.
Illuvium is headquartered in Sydney, Australia. It is worth noting that the two co-founders of Illuvium, Kieran Warwick and Aaron Warwick, are both brothers of Synthetix founder Kain Warwick. As of February 9, Illuvium has 35 employees and is currently hiring professionals.
According to LinkedIn information, Kieran Warwick is currently the chairman of The Burger Collective, a Hamburg review app, and has previously invested in several DeFi apps. Aaron Warwick is a game designer who previously developed a 45-page initial game design document on Illuvium. The two founders were also franchisees of Australian integrated product retailers.
Illuvium stated that its game producer Nate Wells has more than 20 years of work experience in the game industry. Before joining Naughty Dog in August 2012, Nate Wells served as the art director of Irrational Games, the development team of BioShock, and mainly participated in The development and production of BioShock: Infinite. After joining Naughty Dog, he was mainly responsible for the art part of The Last of Us. However, LinkedIn has not yet included information about Nate Wells’ work in Illuvium.
In mid-March of this year, Illuvium completed a $5 million seed round led by Framework Ventures. The participating institutions include IOSG Ventures, LD Capital, Delphi Digital and other well-known investment institutions, including YBB Foundation, Stake Capital, Moonwhale Ventures, Lotus Capital , Blocksync Ventures, Bitscale Capital, Spartan Capital, Quantstamp, Yield Guild Games, Bitcoin.com, etc.
Illuvium investor, source: Illuvium
In addition, Illuvium’s investors include individual investor Kain Warwick, founder of Synthetix, Stani Kulechov, founder of Aave, Anton Bukov, chief technology officer of 1inch, and Santiago Roel Santos, partner of ParaFi Capital.
Illuvium Game Design: Fighting Monsters Upgrade
Illuvium combines sci-fi elements and PRG (role playing) combat mechanism, players can fight in multiple areas and capture the monster Ilvuvial. According to the game design, the player is a survivor who crashed into an alien world on the brink of destruction on a ship. The climate on this planet is changeable and most of the land is swallowed by sea water. Ilvuvial is a monster roaming on this planet, there are more than 100.
Source: Illuvium
In the Iluvium game, players will encounter a variety of different Iluvuvial monsters and choose to fight with them. After defeating the monsters, they can be captured and cast as NFTs. After accumulating more monsters, players can venture into more challenging areas or engage in battle with other players.
At the same time, the power of each Ilvuvial is also different and is closely related to its rarity. As time goes by, Ilvuvial will gradually evolve. The two most important attributes of Illuvial are Affinity and Class. Each attribute is divided into 5 categories. However, Iluvvial may also have the laws of mutual growth and mutual restraint, and the more powerful Iluvvial may exhibit multiple types of attributes.
Ilvuvial evolution, source: Iluvium
If the player does not have time to fight, he can go to the trading platform to buy monsters from other players. It is worth mentioning that monsters with shiny, golden colors and holographic capture technology are even rarer.
The core mechanism of Illuvium is casting, destroying and trading. Illuvial monsters captured during the transaction can be minted into NFT and stored in the player’s wallet. In addition, users can also merge monsters of the same type together to destroy the existing monsters. Have NFT and cast a stronger monster NFT.
The difference between Illuvium and general PRG games is that this game is not turn-based. Each game is an automatic battle, in which players strategically select their monsters to fight against their opponents.
Why did Illuvium choose to start on Immutable X?
Immutable X is a solution jointly developed by Immutable, the development company of the blockchain card game Gods Unchained, and StarkWare, a zero-knowledge proof technology development company, to solve the expansion of the NFT project on Ethereum and the gas cost problem. Immutable X stated that its network will be carried out in phases. Currently, Gods Unchained is connected to the second-tier Ethereum solution Immutable X.
Currently, one of the main bottlenecks faced by NFT projects and users is the cost of executing transactions on the Ethereum network. Illuvium stated that Immutable X allows users to use ZK Rollup to trade their NFT without paying gas fees. In addition, Immutable X will focus on providing NFT liquidity, that is, creating metadata orders and aggregate liquidity, allowing users to use ZK Rollup to trade their NFTs. Each exchange lists assets instantly.
The cooperation between Illuvium and the Immutable X team allows players to quickly mint, destroy and trade NFTs at low cost during the game. Illuvium claims that Immutable X will become an important part of Illuvium’s success.
The cooperation between Illuvium and the Immutable X team allows players to quickly mint, destroy and trade NFTs at low cost during the game. Illuvium claims that Immutable X will become an important part of Illuvium’s success.
ILV token economic model
According to the token economic model released by Illuvium in February, the maximum supply of ILV tokens is 10 million. Among them, a total of 2 million tokens have been sold in the previous seed round and seed round, 1.5 million tokens have been allocated to the team, 1.5 million tokens have been allocated to the Illuvium vault, and 1 million will be sold through Balancer LBP. In addition, There are also 4 million allocated to Yield.
ILV token distribution model
Among the 4 million tokens allocated by ILV to Yield, 3 million tokens will be awarded to token pledgers through mining activities in three years. Most of the tokens will be distributed within the first two years, and the other 1 million tokens will be distributed within the first two years. The currency is In-game Yield, which will be allocated to participants in game competitions, tasks, daily challenges and other activities. At present, Illuvium has integrated Chainlink’s verifiable random function to randomly and fairly distribute rare NFTs to mining participants.
In addition, the main sources of Illuvium Vault’s income are in-game paid content and IlluviDEX transaction fees. Among them, the in-game paid content includes Shard Curing, travel, cosmetics, Revival, etc., which are used to capture monsters. The initial transaction of IlluviDEX The fee rate is 5% of the total value of the transaction. Vault will periodically automatically purchase equivalent ILV from the ILV/ETH Uniswap V2 pool and allocate this part of ILV to token pledgers.
Except for the tokens purchased in Balancer LBP and obtained at In-Game Yield, all tokens have a 12-month lock-up period and are linearly unlocked in 12 months.
ILV release schedule
ILV is mainly used for governance, and the members of the Illuvinati Council are elected by ILV holders. ILV token holders can vote on the Iluvium configuration change proposal ICCP and the Iluvium improvement proposal IIP.
Illuvium’s Balancer LBP Participate in the Tutorial
Illuvium will start Balancer’s LBP token distribution activity at 23:00 Beijing time. A total of 1 million ILV tokens will be sold. The initial price was initially set at 100 US dollars. Delphi Digital proposed and passed governance voting to reduce the initial price to 50 US dollars. The starting weight is 96:4, the ending weight is 70:30, and the activity lasts up to 72 hours. There is no lock-up time for this part of tokens.
The specific participation tutorials are as follows:
- Open the illuvium.io/swap website;
- The wallet is connected to the upper right, which supports MetaMask, WalletConnect, Coinbase Wallet, Trezor and Ledger;
- Set the maximum slippage;
- Enter the number of ILV tokens to be purchased (try to choose to buy with ETH);
- Click “Swap” and confirm the transaction.
It is worth noting that Illuvium stated that users participating in LBP have the opportunity to obtain rare NFTs. Users will get one point for every 1 ETH spent. However, they cannot sell the exchanged ILV tokens or transfer money to participate in the lottery. After the end of LBP, go to swap.illuvium.io website to check whether you have received NFT rewards. NFT rewards are valid for 7 days.
It should be noted that the mechanism price of Balancer LBP starts from a high price and then decreases as the pool weight changes. Therefore, it is not recommended to rush to buy in the first time.
summary
Illuvium’s immersive gaming experience and its launch on the Ethereum solution Immutable X provide players with low-cost and fast NFT minting and trading functions. In addition, it will reward players with tokens and NFTs for deep participation, which may attract more circles. Participation of internal users. However, it should be noted that the current main function of ILV tokens is only governance, and the value played in the Iluvium ecosystem has limitations.
