Framework Ventures Invests Another $10 Million in Illuvium RPG Game
Illuvium, the popular 3D fantasy RPG game built on Unreal Engine 4.26 technology and running on the Immutable X network, has secured a new funding round. Co-founder Kieran Warwick announced on May 31 that the game has raised an additional $10 million in funding from leading DeFi investment firm Framework Ventures.
The newly raised funds will be utilized to expedite the development of Illuvium, enhancing its features and overall gameplay experience. This financial transaction was conducted through a token, which will be locked for a period of two years and will not participate in the distribution of benefits.
Illuvium stands out as a completely decentralized collectible and role-playing game operating on the Immutable X L2 network. The game is set to launch a public beta soon, featuring three interactive AAA games: Zero (city builder), Overworld (monster world), and Arena (arena).
Founded by Kieran and Aaron Warwick last year, Illuvium has introduced a unique gaming experience where players can discover and capture NFT creatures called Illuvials through combat. The game encourages players to have a stake in the project, as the Illuvium network allows in-game fees to be rewarded to staked token holders as ongoing incentives.
In March 2021, Illuvium successfully raised $5 million in a seed round, with Framework Ventures, one of the oldest venture capital funds in the decentralized finance sector, leading the investment. The project has also received financial support from other notable backers, including IOSG Ventures, LD Capital, Delphi Digital, YBB Foundation Ltd, Stake Capital, Moonwhale Ventures, Lotus Capital, Blocksync Ventures, Bitscale Capital, Quantstamp, Yield Guild Games, and Bitcoin.com.
In April 2022, Framework Ventures, a supporter of Illuvium and Stardust, announced its plans to invest $200 million in blockchain game projects as part of a newly launched $400 million fund.
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