Illuvium might have the best fundamentals of any emerging NFT project right now. In this video I explain why I’m buying in.
For those that want the TLDW:
Illuvium is the first decentralized AAA gaming studio. Holders of the Illuvium token, called ILV, will govern how the studio and games are managed, and 100% of revenue from the games are used to pay rewards to anyone who stakes the ILV token.
If that sounds interesting to you I recommend watching the video. As I explain, Illuvium has a solid team, a unique approach to liquidity providing that combines with NFT sales, an upcoming game that could be heads and shoulders above anything we’ve seen from the play-to-earn world so far, and an organization that was set up to be fully decentralized from the get go.
Illuvium’s co-founders include Kieran and Aaron Warwick, the two younger brothers of Kain Warwick who some would nominate to be on the Mount Rushmore of DeFi after founding Synthetix. The early team was inspired by play-to-earn games like Axie Infinity but aimed to solve some of the weaknesses they saw.
Buying Illuvium’s token, ILV, gives you governance over the project and also gets you access to a liquidity provider role with huge potential rewards from their Yield pool as well as from in-game revenue. And you’re also not just buying into the performance of the upcoming game alone, these same tokens will be used for future games as well (Illuvium is really a studio).
I also discuss the potential risks that gave me pause, including 1) the fact that the first game is still in development, 2) the share of tokens that the team/investors own that will be unlocked beginning March 2022, and 3) the elephant in the room for any DeFi project which is the coming wave of regulation.
Illuvium has a current market cap of only about $60 million, meaning it hasn’t even broken into the top 20 NFT related coins yet. IMO this is partly due to the somewhat complex concepts that are involved (you need to understand NFTs, DAOs, and DeFi to see the potential; in this video I do my best to make this easy).
Of course, I wasn’t sponsored by Illuvium (or any project that I’ve spoken about on this channel), I’m just explaining the thought process behind my own bet on the project. In general I’m very bullish on NFT games such as Zed Run, Blankos Block Party and Axie Infinity, although I’m prepared for a bumpy ride along the way.
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0:00 special guest calls in
0:48 Illuvium intro
2:37 the team is solid
4:29 but who actually RUNS Illuvium?
5:56 Tokenomics: what you need to know
6:49 Staking feels so good
8:56 in-game revenue goes to ILV holders (HUGE)
10:04 Illuvium’s game is coming
11:34 how players make money in the game
12:08 how Illuvium generates revenue
14:36 RISK #1
15:01 RISK #2
15:38 RISK #3
Illuvium site: https://illuvium.io/
law article from the video: https://www.hselaw.com/news-and-information/legalcurrents/2086-crypto-innovations-in-decentralized-finance-a-yield-farming-overview
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