Illuvium Land Sale Report : The NFT Game Made Over $72M in Sales
Illuvium's recent land sale was a success as the game sold 20,000 digital land plots NFTs and made over $72 million in land plot sales.
The Illuvium Land Sale lasted from Thursday, June 2nd till Sunday, June 4th. During this sale, nearly 20,000 digital land plots were sold to investors and prospective gamers, with the remaining 31 plots being held for future giveaways. Furthermore, two Tier 5 plots will be auctioned off using a standard auction format.
According to a tweet from the founders, 4,018 ETH (about $7.4 million today) would be reallocated to participants who have staked the game's ILV token. Meanwhile, 239,388 sILV2 tokens (worth approximately $22 million) will be burned or permanently destroyed, lowering the overall supply.
Prices started at 2 ETH (currently $3,700) for Tier 1 plots, 6 ETH ($11,100) for Tier 2, 20 ETH ($37,000) for Tier 3, and 80 ETH ($148,000) for Tier 4.
In particular, these are the sales figures :
- 12003 Tier 1 Land plots were sold for 1207 ETH
- 5011 Tier 2 Land plots were sold for 1027 ETH
- 2087 Tier 3 Land plots were sold for 1063 ETH
- 868 Tier 4 Land Plots were sold for 719 ETH
The team also mentioned that there were no gas wars during the land sale because Illuvium utilized the Immutable engine, developed by scaling technology company Immutable, to cut NFT transaction fees and enable self-custody of NFTs.
There will be a total of 100,000 land plots in the game world of Illuvium. The owners of these plots will have access to many in-game advantages, such as the ability to extract fuel that may be sold for a profit to other players. Illuvium Zero, the Land Gamplay of the overall Illuvium World, will be available in July this year.