Illuvium Price

What Is Illuvium (ILV)?

Illuvium is a collectible NFT open-world AAA game built on Immutable X and secured on the Ethereum blockchain. As a player, you first have to collect and assemble a team of creatures called Illuvials, then use them to explore and conquer the various environments within the game. You can also use your Illuvial team to participate in battles and competitions with other users. 

Besides Illuvials, other key assets in the game are Illuvitars — configurable avatars with a large number of modification options — and resource-rich Illuvium Land.

Another important element of the platform is the IlluviDex, where you can buy the Illuvium NFTs — Illuvials, Illuvitars and Land. 

While many other play-to-earn (P2E) blockchain games such as the popular Axie Infinity require an initial purchase of an in-game asset, Illuvium is a completely free game to join and play. If you want to access additional features and play at a more advanced level, you can purchase in-game assets. 

Since Illivium is built on Immutable X, a scalable zero-knowledge (ZK) rollup solution on Ethereum, minting and trading NFTs on Illuvium are free and instantaneous.

Though Illuvium is a multi-token platform, it has only one native token, ILV, an ERC-20 standard token. However, it uses ETH for all in-game purchases.

Illuvium Price (ILV)

The ILV token was launched in late March 2021, trading at around $47. Within a fortnight on the market, by mid-April, the token rose to around $80. It then steadily trended downward for a few months, reaching an all-time low of $29.23 on June 22, 2021.

Starting from that point, ILV experienced one of the most spectacular price rallies of the 2021 crypto market. Between late June and early December 2021, Illuvium’s price exploded from $30 to over $1,900. On November 30, 2021, ILV recorded its all-time-high price of $1,911, a growth rate of 6,270% over just five months. The massive growth came largely on the back of the P2E frenzy that took over the market in the second half of 2021.

Cryptocurrency entered a prolonged bear market from November 2021, and as a result, ILV’s giant price gains have scaled back significantly. In late 2021, ILV entered a multi-month period of decline that wiped out most of its earlier gains. By September 2022, ILV’s price had stabilized at under $60.

What Is ILV Used For?

ILV is Illuvium’s governance token. ILV holders can vote for users to become members of the protocol’s primary governance group, the Illuvinati Council.

The main way to earn ILV is through staking. Stakers on the platform are entitled to a share of revenue from the protocol’s vault distributions. This revenue is made up of the in-game purchases and fees charged by the platform.

You can also earn ILV tokens as in-game rewards or wager ILV on competitions in some of the game’s environments.

Illuvium (ILV) Tokenomics

ILV has a maximum supply of 10 million tokens which are allocated as follows:

• 5% — Pre-seed

• 15% — Seed

• 15% — Team

• 15% — Treasury

• 10% — Launchpad

• 40% — Yield

Who Is the Founder of Illuvium (ILV)? 

Australian siblings and entrepreneurs Kieran, Aaron (Game Designer) and Grant Warwick (Art Director) co-founded Illuvium.

Read more: Illuvium Game: Collect NFTs, Earn ILV and Stake Tokens

How to Store ILV

ILV is an ERC-20 token, so it can be stored in a wide variety of wallets, such as MetaMask, Trust Wallet, MathWallet, Atomic Wallet, Ledger and Trezor.