The blockchain game Illuvium officially surpassed $72 million in NFT land plot sales. The sale started on Thursday and ended on Sunday, June 5th. Overall, collectors bought 20,000 digital land plots via the Immutable X Layer 2 scaling solution.
How did Illuvium sell $72M worth of NFT land plots?
Illuvium, the popular role-playing Ethereum game, raised over $72 million from its NFT land plots sale. The event started on June 2nd at 1 pm UTC.
In just four days, investors and collectors bought nearly 20,000 plots of NFT lands via a Dutch auction. The starting prices ranged between 2 ETH (Tier 1 plot NFTs) and 80 ETH for Tier 4 plots.
Minting was available on Immutable X – an Ethereum-based Layer-2 solution.
Accordingly, the game’s admins saved 29 land plot NFTs for upcoming giveaways. Meanwhile, two of the most valuable digital plots (Tier 5) will be available via standard auction soon.
Furthermore, the devs said that a whopping 4,018 ETH “will be redistributed” in a tweet. Of course, they also thanked all of the participants for what they called a “historic success”.
What’s the utility of the land plot NFTs?
The Illuvium digital lands are essential for the project’s mobile mini-game. Basically, players can use the digital land plots to raise an in-game resource called Fuel. Each collector can use Fuel for transportation.
All in all, there are 5 Tiers of land plots. Higher tiers generate more Fuel. For instance, Tier 5 land plot NFTs (the rarest ones) come with a 900% production boost. Thereby, holders of higher digital lands can evolve faster within the game.
To conclude, Illuvium is undoubtedly skyrocketing to success after its land sale. Of course, you can join the blockchain experience too, starting with this in-depth game guide.