Illuvium is a blockchain game with a "play to earn" structure that allows players to acquire ILV tokens in-game by participating in competitions and objectives. Blockchain game pioneer Illuvium joins Axie Infinity and The Sandbox in the ranks of significant enterprises. With the aid of blockchain and non-fungible tokens, the project aims to create a decentralized RPG (NFTs).
What is ILV?
ILV
Illuvium is a blockchain game with a "play to earn" structure that allows players to acquire ILV tokens in-game by participating in competitions and objectives.
The Illuvium Game and the ILV Token: What Are They?
Blockchain game pioneer Illuvium joins Axie Infinity and The Sandbox in the ranks of significant enterprises. With the aid of blockchain and non-fungible tokens, the project aims to create a decentralized RPG (NFTs). Players can look for in-game items and creatures (Illuvials) in the form of non-functional tokens (NFTs) in the open digital environment of Illuvium. Items, skins, collectibles, and emotes all have Illuvial NFT representations in Illuvium. It is possible to purchase and sell these NFTs on decentralized exchanges like OpenSea, in-game, or on the IlluvDEX. In 2022, the Illuvium blockchain game will be released to everyone.
The ILV token is an Ethereum-compliant ERC-20 governance token used to control Illuvium's autonomous decentralized organization (DAO). IlluviDEX in-game purchases are another source of revenue for the token. Decentralized finance (DeFi) networks employ ILV tokens as compensation for locking liquidity in order to encourage token liquidity.
The Illuvium Crypto Gaming Ecosystem: A Quick Overview
An RPG Game
Players in classic role-playing games (RPGs) assume control of a group of characters and are held accountable for their actions, which have the potential to alter the course of the game. As a character is used, they are able to learn and grow more quickly. In Illuvium, players (referred to as Hunters) hunt and capture mythical beings known as Illuvials, which are then stored on Shards for later use. The NFTs, a player, has in their digital wallet symbolize illuvials.
Illuvium classes
Each of Illuvium's five classes has its own unique abilities. The specifics of their disagreements have not yet been made public. Even when constructing "Ascended" hybrid classes, class and affinity synergy should be taken into consideration. It is possible to create a Slayer, for example, by uniting a Rogue Illuvial and a Fighter Illuvial. Illuvials created by combining two characters of the same class will have enhanced abilities in that class.
Illuvium affinities
Air, Nature, Fire, Water, and Earth are all strongholds for Illuvium. Each Illuvial's affinity type determines how much damage they deal and receive. On the other hand, a Water Illuvial will deliver more damage to a Fire Illuvial while being vulnerable to Earth. An affinity combination like Dust (Air and Earth) or Frost can be made by combining the five Ascended Illuvials affinities (Air and Water).
An Illuvial NFT can be fused together using a burning process that scraps the old NFT and mints a more powerful version of itself.
Using a "play-to-earn" model, players can earn ILV tokens for completing tasks or entering competitions within the blockchain-based game. Illuvidex, the game's in-game marketplace, allows players to buy and sell Illuvials and their resources.
A multiplayer battle arena mode in Illuvium pits players against one another in an effort to collect ILV rewards and progress through ranks.
Illuvium Features
Gameplay
Non-fungible tokens
OpenSea collectible market offers non-fungible tokens for sale on the Illuvium website, which Illuvium users may view. The Illuvium DAO has created a variety of blockchain-based gaming merchandise, like the Cosplay and Genesis Promo. Illuvium introduces "lands," which can be traded and earned in-game, in addition to the usual NFTs. According to their rarity and quality, the land is divided into five categories.
Zero gas fees and fast transactions
Illuvium uses Immutable X's powerful Layer-2 scalability features to provide zero gas prices and speedy transactions. In order to boost transaction throughput for Ethereum-based blockchain games and NFTs, Immutable X was created. zk-Rollups, a type of privacy-focused Layer-2 scaling, are utilized to accomplish this. In addition, the Illuvium platform uses Zero-Knowledge Proof cryptography to prevent bad actors from acquiring users' private keys, further enhancing its security.
Incentivized staking
Staking on Illuvium is made feasible through smart contracts that reward users for participating. There are both conventional (ILV) and synthetic (sILV) variants of the ILV token used in the staking system. The ILV pool and the ILV or ETH pool are the two basic pool types that allow users to stake their ILV. A user can supply liquidity to the ILV/ETH pool in exchange for SLP tokens, which other users can then stake, but only ILV tokens are allowed to be staked in the ILV token pool.
On the other side, "flash pools" are pools that hold tokens from other projects, the Axie Infinity Shards (AXS) token, and the Universe. XYZ NFT protocol's XYZ token are two examples of this. Users can choose to receive tokens in either ILV or sILV after they have staked their tokens. A 12-month lock-up period is imposed on those who receive their rewards in ILV, whereas those who receive their tokens in sILV can spend them immediately to purchase NFTs and other blockchain gaming items within the game.
Decentralized exchange integration and development
Integration and development of decentralized exchanges: Illuvium has relationships with various DEXs, including SushiSwap and 1 Inch, with more to come shortly. NFTs can be traded in the IlluviDEX once it is ready and has additional features.
The DAO Governance of the Illuvium Crypto Network
The Illuvinati Council, composed of ILV owners, is in charge of governing and upholding the protocol. Holders of ILV tokens choose the council members they want to serve on. Members of the council have the option of making changes to the ecosystem through the use of Illuvium Configuration Change Proposals (ICCPs) and Illuvium Improvement Proposals (IIP) (IIPs).
The current ILV price
On this day, the real-time Illuvium price is currently USD 1,028.16, and the 24-hour trading volume is USD 31,891,520. The price of Illuvium has risen by 3.03 percent over the last day. There is currently a live market capitalization of USD 660,994,406 on CoinMarketCap.com. There are 642,892 ILV coins in circulation, with a total quantity of 10,000,000 ILV coins. In terms of where to buy Illuvium, Binance, OKEx, KuCoin, Crypto.com Exchange, and HitBTC are the leading cryptocurrency exchanges where you can trade Illuvium stock right now
Conclusion
Great Graphics
Illuvium's ILV coin and Decentralized Finance (DeFi) staking platform has already generated a lot of attention, traction, and trading volume. Since its debut, the Illuvium price has likewise shown steady growth. Similar to previous blockchain games like Axie Infinity, Illuvium appears to have a better level of aesthetic and functional excellence. Is it going to be one of the first big-budget AAA experiences in the NFT gaming industry? Until that time, we'll have to be patient and see what happens during its beta period in 2022. If you are looking for cryptocurrency signals of this toke and many other tokes, we are here to help you.
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