Illuvium, a newly launched blockchain-based project, has garnered considerable backing from stakeholders in the industry, seemingly because Aaron and Kieran Warwick, Illuvium founders, are siblings of Kain Warwick, a co-founder of Synthetix (DeFi), a decentralized finance platform.
Kain made the announcement in a Friday tweet on his Twitter handle, @kaiynne. He also explained, in an interview, he granted to Cointelegraph, that the development work was already ongoing last year September. However, it took Kain 2 years to convince Kieran to be engaged fully in Crypto.
Kain recalls inspiration behind the recent development
After expressing his excitement about his siblings’ pressure before launching illuviumio, he revealed how he recently completed a $1m chainlink market buy. He recalled how he left the crypto world to delve into the food business. He also mentioned several key points in his analysis, including how the co founders were impressed with games such as Teamfight Tactics and games that allowed collecting collectible RPGs like Pokemon.
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Gameplay will include additional features employing a yield farming project for the native ILV token and using NFTs effectively to influence collecting game assets. We use a fusion mechanism where Illuvial NFTs are burned by the user to mint a more powerful Illuvial NFT. According to Kieran, the above mechanism is popular in Auto Battlers. However, using smart contracts to regulate minting and burning, the founders have provided collectors and players with more certainty.
While the initiative is gathering momentum, the founders are launching a massive project already. Despite having left the crypto world for some years, Kieran claims he is still much acquainted with crypto concepts like liquidity pooling because he is currently involved in about 50 DeFi projects.
Various DeFi gaming investors are backing up the project
Besides, the project has witnessed early supporters from DeFi and gaming’s prominent investors. According to Kieran, “six of the top DeFi founders” are among the investors in Illuvium’s pre-seed round. The studio has also already witnessed the success of several games, especially Gods Unchained, an NFT game that was developed using the same scaling protocol used to build Illuvium.
Kieran states that he hopes to use the connections effectively to build a gaming innovation that project players. He decried challenges gamers face as “frustrating experiences as a consumer rather than a participant.” However, he admitted that some game studios had improved recently as they have allowed their communities to have more control. Nevertheless, he promised to take the level of community ownership to an unprecedented level in the traditional gaming world.
To guarantee community ownership, Kieran explained that a DAO would govern Illuvium. This will allow players to manage gameplay tweaks and to balance. Besides, some specific funds from the results of high-stakes, winner-take-all “Leviathan” arena battles will be apportioned to a vault the DAO controls.
Though the game demo is already out and the liquidity mining won’t take off until March, Illuvium’s team is committed to introducing a product they hope will emerge as the market standard. The 15-member team hopes that mainstream gamers will see the prospects of the new platforms that will allow them to own the entire game.