$72 Million Raised In Virtual Land Sales By Illuvium, An NFT Game Involving Alien Worlds And Battle Missions

$72 Million Raised In Virtual Land Sales By Illuvium, An NFT Game Involving Alien Worlds And Battle Missions

Illuvium ILV/USD, an NFT-based role-playing game involving battles amongst creatures, announced on Sunday that more than $72 million was raised via sales of its digital land parcels. 

What Happened: According to The Block, from June 2 to June 5 was the official sale of land parcels in the Illuvium metaverse. Constituting 20,000 land pieces, Illuvium sold 19,969 land parcels, holding 31 parcels for future giveaways. The game includes players in an alien world capturing and battling creatures, known as Illuvials. The unique part of Illuvium’s land sale was that, unlike other NFT mints or sales, there were no gas wars that occurred. In other words, Ethereum gas prices remained stable due to its employment of the Immutable engine, a mechanism minimizing transaction fees and facilitating self-custody for NFTs.

Why it's Important: With the bearish trend visible in cryptocurrency and NFT markets, the hype around metaverse land has been diminishing over the past few months. Major digital land projects, such as Sandbox SAND/USD and Decentraland MANA/USD, have seen falling interest across players and investors. Illuvium’s interactive and immersive nature, with different pursuits and battles, as well as its economic benefits including no gas wars, makes it an ideal metaverse project for both gamers and investors.

What’s Next: As Illuvium furthers its roadmap, the game is releasing on macOS and PC in the third quarter of 2022. Furthermore, Illuvium seeks to launch IlluviDEX, its domestic in-game marketplace for weapons, armors and other in-game collectibles traded as NFTs.

Posted In: digital landIlluviumNFTNFTsCryptocurrencyMarkets

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