Stake Capital + Illuvium
Stake Capital is proud to announce our investment into the $5M seed round for Illuvium.
Illuvium is a decentralised NFT collection and auto battler game built on the Ethereum network that rewards players with the opportunity to explore and capture NFTs, known as Illuvials, within battle gameplay.
Integrated with the scalable Immutable-X L2 solution, Illuvium differs from most other current gaming projects because there will be no gas fees for minting or exchanging in-game assets, and the transaction times will be under 1 second each.
Founder Kieran Warwick explained “This also allows us to offer NFTs at different prices, where most projects have to keep everything expensive because otherwise the gas fees become unaffordable,”
As a self-sustainable game that uniquely aims to incentivize its players with a true stake in the project, the Illuvium network allows for the fees incurred within the game to be paid out to staked token holders as ongoing rewards.
Stake Capital always looks to support and participate in emerging digital economies.
The rise of blockchain gaming fits perfectly with this investment thesis, and we look forward to working with Illuvium as they develop further.
The Illuvium Liquidity Pool has been scheduled for release on Tuesday 30th March with more details to follow in the coming weeks.