What is Illuvium (ILV)? All information you need to know - Market247.io
Illuvium is one of the new and potential projects in the GameFi community. The game world of Illuvium opens up many great opportunities for players to immerse themselves in the extremely vivid 3D game space, explore new lands, conquer quests and hunt creatures. In this article, let's find out about what is Illuvium game with Market247.io and the special features of this game.
What is Illuvium?
First, let's get an overview of what is Illuvium project.
Illuvium is a decentralized platform for the fighting gaming community and hobbyist to collect NFTs on the Ethereum network. In Illuvium, users can explore the vast game world and hunt for rare beasts. Players can then battle in Arenas and trade these beasts on the project's NFT Marketplace. Through it, Illuvium provides users with many opportunities to earn income.
In addition, thanks to the integration with the Immutable-X solution on Layer 2, users can perform many operations such as minting or trading assets with very low gas fees, even zero. This is over view about What is Illuvium game.
What is Iluvial?
Illuvial are creatures that live in the game. In stages, they develop and become new and stronger forms. Each Illuvial will bring an element of the world around it to give it more power.
The strength of the Illuvials also varies in regards to their scarcity. In case the player defeats the Illuvial in hunts and battles, the player can collect them on pieces stored on the blockchain platform. At the same time, if players do not have too much time to play the game but still need a strong deck, they can buy Illuvial on the NFT exchanges.
What is the highlight of the Illuvium project?
Illuvium builds a game with extremely realistic 3D space, attracting the participation of many gamers and crypto and DeFi enthusiasts. This is one of the biggest advantages that make this platform different.
In addition, owning beautiful limited edition NFTs created by world-class artists is an aspiration for players. This has made Illuvium attract and maintain the interest of the community, ensuring the stability of the system's NFTs and utility tokens.
Besides, Illuvium possesses 3 outstanding features as follows:
Integrating Immutable - X on Layer 2
At the present time, when trading NFT on the Ethereum network, users face many difficulties. Specifically, the processing speed on Ethereum is quite slow, along with high transaction fees for each task on the network. This greatly affects users who want to access NFT and also developers who are active in the NFT array.
For this reason, Illuvium introduces Immutable X, a mechanism that integrates ZK rollups on Layer 2 to solve the limited problems of the Ethereum network. With this integration, users will have many benefits such as:
- Capable of self-maintaining management of NFTs
- Transactions are processed quickly and results are transferred back to Ethereum
- Users do not need a layer 2 token to perform tasks with NFT
- Minting Off-chain support
This is a built-in decentralized exchange platform on Illuvium's system. The platform is integrated for the exchange of Illuvium assets, including Illuvials NFT. With a 5% fee deducted for each transaction that will be converted into rewards for users who stake ILV tokens.
With 4 million IVLV tokens equivalent to 40% of the total maximum supply, these tokens will be allocated to the platform's Yield Farming program. Tokens will be allocated over 3 years to users providing liquidity and through Illuvium partner rewards programs.
Above are the characteristics for you to better understand what is Illuvium game.
Detailed information about ILV token
To understand what is Illuvium, we'll take a look at what tokens are used in the platform.
- 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 (6/100%)
With a total supply of 10,000,000 ILV, tokens will be distributed into 6 groups with the following ratio:
- Pre Seeds: 5%
- Seeds: 15%
- Team: 15%
- Treasury: 15%
- Launchpad: 10%
- Yield: 40%
What is ILV token used for?
ILV token is used in the following cases:
- As a paid means of payment for transactions on the platform
- Payment to buy and sell in-game items
- Participate in system administration through voting and suggesting ideas
Let's discover who the project team and investors of Highstreet are and are reputable through the following information.
Illuvium's team is all experienced in the fields of technology, blockchain and games. Consists of:
Kieran Warwick – Co-Founder
He is an entrepreneur who has been exposed to Bitcoin and the Ethereum platform from an early age. Kieran is involved in Blueshift Exchange, The Burger Collective.
Aaron Warwick - Co-Founder & Game Designer
Aaron graduated with a degree in computer engineering and physics from the University of Wollongong, Australia. All members of Warwick's family are knowledgeable about the sport and run multiple multi-million dollar retail franchises.
Basil Gorin - CTO
He has 15 years of experience in Web and blockchain development.
During the Seed Sale, Illuvium raised $5 million led by Framework Ventures. The project also called for investment from major funds such as IOSG Ventures, LD Capital, YBB Foundation Ltd, Delphi Digital, Moonwhale Ventures, Lotus Capital, Stake Capital, Blocksync Ventures and Bitscale Capital.
Above is all the information about what is Illuvium game. Through this analysis, Market247.io believes that you already have a lot of knowledge about this interesting game. This is a game you should experience. If you have any questions about what is Illuvium, send us your questions for prompt response. Don't forget to follow Market247.io to keep up with the latest news from the community.
Disclaimer: This article is intended to provide information about what is Illuvium project. This is not investment advice at all.
FAQs - What is Illuvium?
What is Illuvium’s unique?
Illuvium was the first AAA title game, making it unique from other games like Axie Infinity. However, combining layer 2, IlluviDEX, and yield farming are other distinguishing features of the Illuvium game.
What kind of game is Illuvium?
Illuvium is a blockchain-based game built on Ethereum, leveraging the Immutable X blockchain and its Layer 2 scaling technology.
Market247.io offers fundamental and technique analysis about potential crypto projects and hidden gems. By doing so, we hope to bring information promptly to support investors making investment decisions. All information provided by Market247.io is just as a reference, not an investment advice.
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