Illuvium Raises Another $10 Million to Expand its AAA Gaming Universe
The fresh funds will be used to expedite Illuvium's development and support its group of remote contributors.
Framework Ventures doubles down on Web3 RPG Illuvium
Leading blockchain game ecosystem, Illuvium, has raised another $10 million from Framework Ventures.
Kieran Warwick, co-founder of the RPG series, took to Discord to announce the exciting news. According to Warwick, these funds will be used to expedite the game's development as well as to support their group of remote contributors. The transaction was completed through a token sale, in which the tokens will be locked for two years and will not be staked, resulting in no revenue distributions.
"Our upcoming open beta will feature three interoperable AAA games: Illuvium: Zero, a city builder game; Illuvium: Overworld, an open-world monster hunter; and Illuvium: Arena, an autobattler," said Warwick. "With this new funding, we believe our studio has a comfortable runway through the launch of the open beta and well beyond."
Illuvium is described as the world's first interoperable blockchain game universe, which includes an open-world exploration game, an industrial city builder, and an autobattler on the Immutable X network. At launch, players can explore the Overworld and hunt for NFT creatures known as Illuvials. Once they have a team of Illuvials, they can fight in the Ascended Arena in PvP or PvE mode. Those who own a virtual plot in Illuvium: Zero can build their land and collect resources, which can be sold on the marketplace or used in the Overworld.
In March 2021, Illuvium raised $5 million in a seed round led by crypto-native investment firm Framework Ventures. The project also received financial backing from other big names in the Web3 space, which include Delphi Digital and YGG. Last April, Framework Ventures said that it would invest $200 million in Web3 games following the launch of a $400 million fund.