We’re thrilled to announce that Blocksync Ventures has invested in Illuvium, a collection and auto battler video game due to launch on layer-2 exchange Immutable X later this year.
NFT hype has been the major talking-point of crypto during the early part of 2021. Whether it’s Kings of Leon releasing their latest album as an NFT, a Banksy artwork being set ablaze then tokenized, or Twitter’s Jack Dorsey auctioning a tweet, non-fungible tokens are finally having their moment in the sun and drawing millions of dollars of liquidity into the market.
Blocksync is proud to stand alongside other top blockchain investors in the space including Framework Ventures, IOSG, LD Capital, Delphi Digital, Lotus Capital and Bitscale Capital.
Why we’re intrigued by Illuvium
While it would be disingenuous to claim that our decision to invest in Illuvium hasn’t been partly influenced by rising interest in NFTs, the truth is that the project would’ve caught our eye regardless.
Illuvium is an alluring fantasy game that aims to take NFT gaming to another level. Set in a mysterious world, the immersive title invites players to hunt and capture wild creatures (known as Illuvials) that can then be used in combat or traded via the integrated Illuvials exchange. Essentially, it’s a cross between CryptoKitties, Street Fighter, and Avatar.
The game also features a defi staking mechanism, enabling players who provide liquidity to earn a percentage of network fees. This confluence of gaming and defi represents an exciting new frontier for the crypto industry, providing utility for tokens (in this case $ILV, which has a maximum supply of 10 million) and introducing revenue streams to gaming.
The vast majority of gaming dApps — including Illuvium — are coming to the Ethereum blockchain, which is of course the network most associated with defi.
Within Illuvium, almost everything is coded as an NFT, and with ultra-fast transactions, low gas fees and eye-catching visuals, it is destined to attract huge interest when it launches in Q3 (date TBC). Between now and then, a series of demo videos will drop, revealing the wicked cast of collectible characters populating the game. Members of the game’s Discord community will be the first to hear about new uploads. The latest, published on March 5, features a showdown between the characters Rypper and Rhamphyre.
We expect big things from Illuvium moving forwards, and we are happy to throw our full support behind the project at a time when NFTs are generating endless headlines.
We’re proud to have BlockSync on board as investors, their knowledge in the space and value-add is just what we at Illuvium were looking for. While we’re building a virtual universe of beauty and wonder we’re confident that we’ve chosen the right partners to support us in the real world. Lets change how people play!
- Kieran Warwick (Founder of Illuvium)