Illuvium Labs raises $12 million for blockchain gaming universe

Illuvium Labs has successfully raised $12 million in Series A funding round. King River Capital, Arrington Capital, Animoca Brands and The Spartan Group co-led the investment. The round also saw investment from notable investors including Arca, Polygon Ventures, 32-Bit Ventures, and Yield Guild Games.

The funding will be set aside for the release of three linked Illuvium games scheduled for the second quarter of 2024. These titles include his monster-fighting 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 to speed up transactions. Sharing assets across platforms makes your gaming experience smoother and more connected.

Illuvium Labs has signaled a sizable token airdrop to the community, estimated to be worth over $25 million. This move is expected to excite and involve a lot of players and investors alike. The Illuvium (ILV) token has shown impressive performance, reaching its highest price since 2022 earlier this month.

This funding shows that investors believe in Illuvium’s plans and are preparing it for an impressive start in the world of blockchain gaming.

Also read: Immutable postpones release of $67 million IMX token until July 2024

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