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BitMetis Review：
Gameplay： At present, only the mobile zero mini game is launched with impressive feedback. The official release time of the game is undecided
Tokenomics:$ILV , $SILV2 and $Fuel, Reasonable token allocation Long-time unlocked circle with doubling revenue
NFT：Core NFT land with high price and popularity
Community： Large-scale community,high loyalty for followers and high participation rate
Investor & Team： First-tier partners powerful and influential team members
Introduction
Illuvium is a decentralized game studio and DAO that merges online gaming with cryptocurrency. It creates uniquely functional, evolving, and high production-value NFTs that are playable in a universe of AAA play-to-earn gaming titles on the Ethereum blockchain. Illuvium aims to be the world's first decentralized AAA game, and its mission is to decentralize the token among the large number of active and interested participants in the project.
Gameplay
Illuvium, at its heart, is an RPG game where players travel to various regions of the world and encounter creatures called Illuvials which they battle. Illuvium differentiates itself from other RPGs in combat, which is not turn-based.
Zero is a mobile mini-game that will interact with the main game developed on the same planet as the Illumium overworld. It is a top-down city builder game focused on constructing your own industrial complex to produce resources. Free to play is available. But to take part in the earning side of the economy, you must own land NFT.
NFT
Illuvium’s collectible NFT games feature crypto token assets with functionality and a gaming use case, interoperable across the Illuvium universe and the larger DeFi metaverse.
Illuvials
Illuvium began trading NFTs at $208 in June 2021. The current floor price for NFTs is $355. But it is worth noting that there are a total of 21 NFT items, but there are 2.0K holders, and the total transaction volume has reached $4，179，599.64. Overall, the price increase in NFTs is modest and the total amount is sparse. What is it used for?
Actually, for the fairness of the game, Illuvium does not release functional NFTs in advance. So the NFTs in OpenSea are for collection, not in-game. So there is no practical significance.
NFT land
The NFT land project will be launched in June. It is worth noting that the sale of the land is a Dutch auction, not a fixed price, but a starting price. The land sale uses a declining price model, configured with a starting value that declines at 2.5% per minute for two hours.
There are five tiers of Illuvium land. Tier affects the number of element and fuel sites and the landmarks available. Tier 1-4 Land is available for purchase with ETH or $SILV2. Tier 5 Land is only purchasable with ETH. But only 2 of the Tier 5 lands are up for auction which generates a great gap from the other four tiers. Higher tiers represent increasing rarity and higher fuel generation.
We can see that 20,000 plots are available in the first sale, with only 100,000 total volumes where players can build an empire across seven unique regions. Fuel is a critical part of the Illuvium economy and can only be extracted from Land. Once all land is sold, it will never be minted again.
From the figure in the following, the auction price for the NFT Land varies from 2ETH to 80ETH ($4179-$167184). In fact, combined with the two table data, whether it is from the number of NFTs or the starting price, there is already a huge gap starting from the Tier 4 NFT land.
One thing should be mentioned that players can use a 4.5% discount to auction land with SIV2 on June 2nd currently. The number of land NFTs decreases sequentially with tier.
Even though there is still some time to go before the NFT land public auction, there have been a large number of players to pay attention to it since March last year. And 80% of the Discord community discussions are about details of NFT land. Although the starting price of NFT land is relatively high, most investors are optimistic about the prospects for NFT land.
Tokenomics
$ILV
$ILV is an ERC20 token on the Ethereum blockchain. It is used for :
- Governance
- Liquidity Mining
- Vault Distribution
The total maximum supply of $ILV is 10,000,000 with the current price $375.30. And It was listed at an initial price of 50 USD per token. All of the 10 million tokens will be distributed over 3 years but not all tokens necessarily be in circulating supply. We can see that compared with other games, the total supply of tokens is pretty scarce and it is a long-term investing circle.
$SILV2
In terms of officially released NFTs, as well as in-game purchases, SILV value anchors ILV. And the anchoring ratio is 1:1. Issuing a SILV will buen an ILV. This may also lead to a rise in deflationary coins. It means that with the advent of SILV, it made the presence of ILV even rarer.
- Synthetic ILV token
- in-game currency for things like travel and shard curing.
- purchase land NFT
- It can solve the problem of pledge withdrawal
- It can be earned by staking $ILV in the protocol.
- It can not be circulated in the market
$Fuel
- In-game token in the whole Illuvium universe
- It can be used to evolve pets, equipment, etc. for in-app purchases which has essentially the same usage as $SILV.
- Circulated token.
- Can be exchanged for ETH
- The quantity is unlimited and is determined by the DAO
Token allocation
As a matter of fact, the token allocation is more complicated than other games. One thing to mention: Only after the token is unlocked, there will be a distribution of revenues.
We can see that Pre-seed, Seed and Team are all one-year unlocking periods and they account for 35% of the entire token distribution. Launchpad accounts for 10% and especially the yielding farming takes account 30% as total. Judging from the proportion of players who can get benefits, it has already attracted a lot of attention. In addition, Illuvium staking can get 200% + annualized returns ...
Staking
Currently the total volume of staking has reached $559,260,689. And the staking rate of two pools has reached 20%. And the total volume staked in the ILV pool is more than twice as much as ILV/ETH. There are 2 core pools which you can deposit tokens into. Below is a detailed look at each pool:
- $ILV Pool — This pool only holds $ILV. It has a pool weight of 0.2 of yield. The current APR is 19.04%
- $ILV / ETH Pool — This pool only holds Sushi LP (SLP) tokens. It has a pool weight of 0.8 of yield. The current APR has been up to 218.73%
- Flash pool—It takes up 2% of the total.
In the core pools, you can lock your tokens for a period from 30 days for up to 12 months. This changes your token weight. By increasing the duration of your lock, you will increase the token weight of the locked tokens. The maximum weight of a locked token is 2. And rewards will start to finish their 1y vesting period in July. Let's call it 6 months of tokens, and 1.64M staking tokens go into circulation in the first year.
Community
At present, due to the reasonable distribution of tokens in the project, profitability and other reasons, the game is favored by many players. There are 298K followers on Twitter and 197,537 followers on Discord. Both attention and community size are impressive. And Discord's channel segmentation is very clear. Also a live channel is open every day for players and investors on Discord. And there's a lot of community discussion about the two hot topics of staking and NFT land everyday.
Recent AMA events on NFT and P2E this year attracted 2,300+ visitors. The per capita participants of AMA activities are also as high as 2000+. From April to now, 4 official AMA events have been held, and the total number of views has reached 7800+. Moreover, the official video tweet will also attract tens of thousands of views.
Investors & Team
The seed round raised $5 million from leading venture capital firms who have shown significant interest in it being involved with a blockchain-based game. For example, LD Capital has invested $500K. In addition, its partner Immutable-X has provided the platform to largely reduce the gas fee. Therefore, Illuvium has powerful financial and background backers.
1+ year of developing an AAA MMO game is certainly tied to the team behind it. The team is led by Kieran and his brothers with 160+ staff, who have a large family business and assets in Australia. Most importantly, one of the founders is still the industry modeling elite. This is one of the reasons why this project has been able to develop rapidly nowadays.
Summary
- The NFT land project has a promising future and has a very strong mass base and a loyal foundation of trust.
- The token economic benefits are substantial and well distributed. Although the lock-in period is long, the benefits for staking are also doubled.
- The investor and the team have a strong economic strength and background.
Parameters
Token:$ISV(Listed in Binance)
On-chain: Ethereum blockchain
Available on: Mac/Windows
Stage: Game Launched
Total followers:299K
BitMetis Review：
Gameplay： At present, only the mobile zero mini game is launched with impressive feedback. The official release time of the game is undecided
Tokenomics:$ILV , $SILV2 and $Fuel, Reasonable token allocation Long-time unlocked circle with doubling revenue
NFT：Core NFT land with high price and popularity
Community： large-scale community,High loyalty for followers and High participation rate
Investor & Team： First-tier partners powerful and influential team members
Please Note: the above content analysis is only for Reference information, not as a basis for investment decision-making. Bitmetis and the author of the report will not be responsible for the user's investment results.
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