Framework Ventures — the venture capital firm with deep pockets from a $400 million funding round last year — just proved its love for Illuvium, plonking $10 million into the Australian game studio that is head over heels about NFTs.
Illuvium first unveiled the generous funding round via its Discord chat room, followed by an official stamp of approval on Twitter stating how Frameworks’ “unwavering support and commitment have been nothing short of phenomenal:”
🔥 Exciting news, Rangers!
We are thrilled to declare that we've secured an additional $10M funding injection from @hiFramework! Their unwavering support and commitment have been nothing short of phenomenal. 🤝
With this generous backing, we're all set to turbocharge our… pic.twitter.com/ezgks8b9cT
— Illuvium (@illuviumio) June 1, 2023
Where the Sparkling Funds are Headed
Although Illuvium is still in beta, the gaming platform has turned many heads in the Web3 gaming arena. With the play-to-earn setup and a mix of open-world gameplay, it currently has three game modes for all to enjoy: Overworld, Arena and Zero. All games are built on the Ethereum blockchain network and its Layer 2 scaling solution, Immutable X, which is used to increase scalability for NFT projects and Web3 games — the cherry on the cake.
Interestingly, this isn’t the first time Framework Ventures has supported Illuvium, leading a funding round of $5 million in 2021. Shortly afterward, Illuvium proved it can pull in the big bucks, launching a LAND sale of $70 million. Framework’s recent injection of $10 million will now rocket Illuvium’s development process speed.
Further boosting its success, the Web3 gaming platform also announced its joining forces with another Immutable X gaming platform, GameStop, for a “game-changing event” and Promo D1sk sale starting on June 12, with 20,000 D1sks containing pre-bonded Illuvitar NFTs used in its collectible card game:
🚀We're thrilled to announce a groundbreaking collaboration between @illuviumio and @GameStopNFT for Promo D1SKs sale! Check out the details in the link below! 🎮🌌 https://t.co/KQoluDLhWZ pic.twitter.com/TJAsZx8aDG
— Illuvium (@illuviumio) June 5, 2023
This collaborative ethos combines the importance of community and technological revolution, setting the stage for Illuvium to carve its place as a top dog in the blockchain gaming landscape.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
Digital art fanatic who brings a unique perspective to NFT news.