After just a few days of airing, Illuvium land sales have brought in a total of $72 million in land sales.

Almost 20,000 Non-fungible Tokens (more commonly known as NFTs) land lots have been sold to potential Illuvium investors and players over the course of this sale event. The land sale opened on June 3 and closed on June 6. In total, as mentioned above, it successfully raised more than $72 million in land sales. What a historic NFT sale event!

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What is Illuvium?

Illuvium (ILV) is an Ethereum-based role-playing game. Illuvium’s land NFTs are powered by Immutable X (IMX), an Ethereum layer 2 scaling solution that enables cheaper, faster, and more energy-efficient transactions.

Illuvium has won the hearts of many RPG fans with its best-in-class graphics and gameplay that rivals any AAA title. This Play-to-Earn, open-world exploration, NFT creature collector/autobattler-hybrid game with city/land-building elements, available on Windows and Mac, allows players to capture, train, and fuse over 100+ different beasts, all with unique and powerful abilities called Illuvials, and explore seven beautiful alien landscapes of the fractured Illuvium world.

The remaining 29 plots, out of the 20,000 initially offered, will be kept by the developers for future giveaways. Two Level 5 plots, the most valuable tier in the game Illuvium, will each be auctioned off at prices using the standard auction format.

Each plot of land is assigned a Tier and the higher the tier level, the higher the fuel resources generated; the Tiers are as follows: 0 (not purchasable on the auction), 1, 2, 3, 4, 5. The two middle Tiers, Tier 3 and Tier 4, will have special landmarks that can further increase resource generation by a significant amount. Tier 5 plots will also include legendary Arenas that will host official Illuvium eSports events. Players can sell their stadium’s naming rights, collect tournament fees, and profit from sponsorship deals.

The success of the land sale

Illuvium used a Dutch auction for the 19,969 plots of land that were sold, which means the price of each lot decreased with each sale. Starting prices were at 2 ETH (currently $3,700) for Tier 1 lots, 6 ETH ($11,100) for Tier 2, 20 ETH ($37,000) for Tier 3, and 80 ETH ($148,000) for Tier 4.

Basically, there are 100,000 pieces of land in the game world of Illuvium. Land owners will receive more preferential rights in the game; if a player wishes to explore the exotic lands and capture and train Illuvials, they’ll need Fuel to do so. Landowners will be able to generate fuel and sell it to all the players across the Illuvium games.

Illuvium Zero is the mobile and desktop companion game where landowners develop and manage their purchased lands. In this companion game, landowners can build their own virtual industrial complex. In particular, landowners would be able to maximize their output and extraction of elements and fuel. Illuvium Zero will be released in July 2022.

In fact, blockchain-based metaverse games like The Sandbox (a voxel-based sandbox world where players can create digital assets, upload them on the Sandbox’s Marketplace, and use them drag-and-drop style to create various different games using the Sandbox Game Maker) and Decentraland (similar to the Sandbox, a virtual platform in which users have the ability to create, experience, and monetize their own content and applications) have made hundreds of millions of dollars from virtual land sales. However, interest in the metaverse has gone down after a cycle of hype fueled by Facebook’s name change to Meta and their foray into the metaverse landscape.

As the developers of Illuvium continue to prepare for the official launch of the game on Windows and Mac computers later this year, the P2E community worldwide will wait in anticipation for one of the more promising blockchain game experiences to be released.