Illuvium Secures Extra $10M Funding From Framework Ventures

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Fast take:

Illuvium has obtained an extra $10 million funding from Framework Ventures.
Framework beforehand invested $5 million in Illuvium’s seed spherical introduced in March 2021.
The newest spherical brings Illuvium’s whole fundraisings to $15 million.

Illuvium has raised $10 million in further funding from Framework Ventures. The AAA blockchain video games developer beforehand raised $5 million in a seed spherical backed by Framework.

The corporate stated it would use the contemporary funding to speed up the event of its upcoming AAA recreation because it strikes nearer to the open beta. Illuvium has additionally obtained monetary backing from Delphi Digital and YGG.

Supply: Illuvium/Twitter

Framework beforehand invested in a $5 million seed spherical for Illuvium in March 2021. The Metaverse gaming firm has now raised a complete of $15 million.

The newest funding is a part of a $200 million web3 gaming fund introduced by Framework when the corporate raised $400 million for a brand new crypto fund.

Illuvium’s web3 gaming journey started to take form in September final 12 months when co-founder, Kieran Warwick unveiled plans for its interoperable blockchain gaming mannequin.

The corporate will introduce three interconnected inter-operable AAA video games: Illuvium: Zero, Illuvium: Overworld, and Illuvium: Enviornment when it launches in open beta.

Illuvium will use the Immutable X community to energy what it calls the world’s first interoperable blockchain recreation universe. 

In June 2022, Illuvium generated greater than $72 million in NFT land gross sales. The corporate offered 19,969 out of 20,000 plots, with the remaining 31 plots held for giveaways.

Though web3 funding has slowed over the previous 12 months, blockchain video games have continued to draw traders, and are seen as a viable choice to onboarding lots onto web3.

In response to DappRadar, blockchain gaming exercise continues to dominate on-chain transactions. In response to information collected throughout April, blockchain video games accounted for about 38% of all crypto transactions, regardless of witnessing a decline of 10% in day by day lively wallets.

Final month, Immutable X and Polygon collaborated to launch the Immutable zkEVM platform. The platform gives recreation builders infinite scalability while additionally giving them entry to a large neighborhood of avid gamers from the 2 ecosystems.


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