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Blockchain gaming developer Illuvium has concluded its Series A funding round, securing $12 million in investment.
According to an X (Twitter) post shared on March 26 by Illuvium, the funding was spearheaded by Arrington Capital, King River Capital, Animoca Capital, and Spartan. Additional contributors include Laser Digital, Arca, Selini, and others.
The raised funds will support the Illuvium team in their endeavors to broaden the range of gaming options available within the Illuvium ecosystem.
Established in 2020 as a decentralized gaming platform, Illuvium has swiftly become a trailblazer in the Web3 gaming industry. It is currently recognized as the world’s first Interoperable Blockchain Game (IBG) universe.
Illuvium’s gaming roster comprises the card game Illuvium Beyond, the adventure game Illuvium Overworld, the building game Illuvium Zero, and the auto battler game Illuvium Arena, which was developed in collaboration with Team Liquid, a prominent global esports organization.
The Illuvium ecosystem operates under the governance of ILV, an ERC20 token on the Ethereum blockchain, serving both as a governance and tradable token. Currently, its value currently stands at $142 according to CoinMarketCap data.
This $12 million capital infusion serves as further validation of the progress and potential within the Web3 gaming industry, which, according to Nasqad, is projected to reach around $65.7 billion by 2027.
