Michael 0:00
Welcome to the New to Crypto Podcast designed to guide you through the crypto landscape with pinpoint accuracy created for the new and intermediate crypto investor. Join your host Crypto Travels Michael as he takes you through the different facets of getting started and succeeding in your crypto journey. New to crypto podcast brings you new episodes daily Monday through Friday with surprise bonus episodes sometimes on the weekend. Let me ask you, are you new to crypto and don’t know where to start? Are you more experienced but have questions? Then you’re in the right place. This podcast is designed for you coming at you from the Trading Center and the Lifestyle Dezign Studio. Here’s your host Crypto Travels Michael.
Hey, welcome to today’s episode. This is another one in the gaming series that I’m doing. And this is all about Illuvium. So what is Illuvium. Illuvium is an open world fantasy battle game built on the Ethereum blockchain, and sometimes it’s considered the first triple A game on Ethereum. Illuvium seeks to provide a source of entertainment for both casual gamers and diehard DeFi fans through a variety of collecting and trading features. The world of Illuvium is inhabited by creatures known as Illuvials. And the game is a fusion between an open world exploration game and a PvP battle game. Players can spend their time exploring the game world or building their own team of powerful beasts. Some of the benefits and features include integrated Dapps. While Illuvium has blockchain based elements it is more like a full fledged video game. It is access through a downloadable desktop application but also has a variety of compatible DeFi applications surrounding it, including a yield farm and a decentralized exchange.
So let’s break down the layer two integration in NFTs. Although Illuvium is protected by Ethereum. It is based on immutable X which is IMX a layer two solution designed to help scale applications with NFT functionality. Illuvium ensures that players can mint and exchange their NFTs with zero gas fees and virtually instant transaction finality. Players always maintain custody of their assets while using IMX. Let’s break down the IlluviDEX decks for a moment. Illuvium features a built in decentralized exchange platform also known as a dex, and its name is a IlluviDex and this can be used to exchange Illuvium assets with trust including Illuvial NFTs, and a 5% fee is deducted from each cell and funneled to reward pools for ILV betters. Let’s break down the yield farming for a moment. A total of 3 million ILV equivalent to 30% of the maximum supply is allocated to Illuvium’s yield farming program. These will be distributed over a three year period to liquidity users and through various partner rewards. Illuvium features a unique yield farm reward system in which all ILV rewards earned through the yield farm are locked for a period of one year before they can be withdrawn. Unlike most other blockchain powered games, Illuvium features a fully 3d environment with over 100 unique Illuvials, which are scattered throughout its various regions.
Each Illuvial is designed by a team of world class artists guaranteed to appeal to players accustom to big budget retail games. The biggest competitor is Axie Infinity. Why both Illuvium and Axie Infinity feature collectible in game characters that can be fought, traded and upgraded. The scope of the game world surrounding these creatures differ somewhat. On one hand Illuvium is a 3d RPG with a gradual revealing story and a huge open explorable landscape. While Axie Infinity is very popular, and kind of a quirky 2d game that features adorable creatures known as axies, kind of reminiscent of Pokemon in a way. And these axies can be bred, battled and traded. For now, there is no story mode to speak of. Both Illuvium and Axie Infinity feature a strong gamified DeFi element, which means there may be real ETH or ETH at stake while playing, as some Illuvials and axies could fetch significant sums on the open market. Unlike Axie infinity, which uses a random variety of assets to produce Each individual Axie. Illuvium Illuvials are completely unique.
Each features custom artwork and rigging to ensure they are distinct and have characteristics that relate to their properties and region. The two games clearly have some similarities, but Illuvials is aimed primarily at traditional players who may or may not have experience with cryptocurrencies and NFTs. While Axie Infinity appeals to primarily people that are more experienced in cryptocurrencies. So who are the founders of Illuvium? Well, it was founded by Aaron and Kieran Warwick. Let’s break down the tokens in the ecosystem for a minute. Because there’s actually two types of tokens on the Illuvium ecosystem. There’s ILV, and there is sILV is the main token of the game and can be traded and withdrawn from the game while sILVs is a governance version of the ILV token and can’t be withdrawn from the ecosystem. The Illuvium project was created for the desire to make a collectible NFT game that was open, transparent and governed by the community, the community of sILV holders will govern and maintain the protocol via a council that they have set up and designed. The sILV token is an ERC 20 governance token, which is compliant with the Ethereum network. And it’s used to govern Illuvium’s DAO and this token also sees revenue streams from in game purchases via the IlluviDEX. So I hope this episode has been informative for you and I hope that is painted a picture. And it’s another one in the gaming series, the crypto blockchain gaming series that I’m doing. Definitely like and subscribe to the podcast and chime in here tomorrow. If you’d like to reach out to me, you can message me, send me an email at show@newtocrypto.io. Until tomorrow, make it a great day.
Thanks for tuning in to New To Crypto Podcast. If you liked the episode, be sure to follow and subscribe. You can listen to every episode on all major platforms. Have an interest in being on the show or want advertising reach out at new to crypto.io. Head over to our site new to crypto.io to access the resources mentioned in each episode. Until next time, remember to navigate the crypto landscape with pinpoint accuracy.
