Illuvium Labs has successfully raised $12 million in a Series A funding round. King River Capital, Arrington Capital, Animoca Brands, and The Spartan Group jointly led the investment. This round also saw contributions from notable investors such as Arca, Polygon Ventures, 32-Bit Ventures, and Yield Guild Games.
The money is set aside to release three linked Illuvium games planned for the second quarter of 2024. These titles include the monster-battling Illuvium Arena, the open-world adventure Illuvium Overworld, and the base-building game Illuvium Zero.
These games are part of the Ethereum network and use Immutable X for faster transactions. They share assets across the platform, making the gaming experience smoother and more connected.
Illuvium Labs has hinted at a substantial token airdrop for its community, speculated to exceed $25 million in value. This action is expected to excite and greatly involve both players and investors. The Illuvium (ILV) token has shown remarkable performance, reaching its highest value since 2022 earlier this month.
This funding shows investors believe in Illuvium’s plans and prepares for an impressive start in the blockchain gaming world.
Also Read: Immutable Delays $67M IMX Token Release to July 2024
