Illuvium Labs, the studio behind the anticipated blockchain gaming universe Illuvium, has raised $12 million in Series A funding. The capital will support the launch of the studio's interconnected game titles, which include Illuvium Arena, Illuvium Overworld, and Illuvium Zero. The games are built around interoperable assets within the Ethereum ecosystem, including on scaling network Immutable X.
Illuvium Labs Secures $12 Million in Funding for Blockchain Gaming Universe
NEW YORK -- Illuvium Labs, the gaming studio pioneering the highly anticipated blockchain gaming universe Illuvium, has announced a $12 million Series A funding round. The infusion of capital will fuel the development and imminent launch of the interconnected game titles scheduled for the second quarter of 2024.
King River Capital, Arrington Capital, Animoca Brands, and The Spartan Group co-led the funding round, joined by an esteemed group of investors that included Arca, Polygon Ventures, 32-Bit Ventures, and Yield Guild Games.
The Illuvium gaming universe encompasses three immersive experiences: the monster-battler Illuvium Arena, the open-world action-adventure game Illuvium Overworld, and the base-building game Illuvium Zero. These games are meticulously designed around interoperable assets within the Ethereum ecosystem, seamlessly integrated with the Immutable X scaling network.
In conjunction with the funding announcement, Illuvium Labs has hinted at an impending airdrop of tokens. The press release tantalizingly states, "There are whispers of a significant airdrop planned for the game's community, rumored to be worth more than $25 million."
The native token for Illuvium, ILV, has experienced a surge in value, currently hovering above $150 and approaching its 2022 peak of $160.
Illuvium Overworld, slated for release in the coming months, promises an array of new features, including Illuvial hunting, enhanced movement techniques, harvesting, crafting, fusing, and combat.
With its cutting-edge blockchain technology and engaging gameplay, Illuvium is poised to revolutionize the gaming industry. The Series A funding will accelerate the realization of the Illuvium universe, bringing an unprecedented gaming experience to enthusiasts worldwide.
