Illuvium Financials (August 2023)
Runway: Until January 2025
Total Funds Left: $21,059,711
Total Expenses: $1,206,473
4-Month Average: $1,262,730
Co-Founder Staked $18 Million Worth of Assets to the DAO on 6th April 2023.
As a founder of this project, I recognise the importance of ensuring the health and longevity of our DAO.
To demonstrate my personal commitment to this goal, I propose to create a safety pool of 300,000 of my tokens, which can be used by the DAO in case of emergency funding needs.
Kieran Warwick, Illuvium Co-Founder
Revenue (2021 – 2023)
It was announced and marketed that Illuvium has raised $72 million in its land sale.
However, unknowing observers might not know that the majority of the land was purchased with sILV2 – a token pegged to ILV that supposedly does not have value outside the games.
Note:
Illuvium’s royalty fees are enforced at 3% in the secondary market – Immutable Marketplace.
A large portion of the ILV tokens sold for Pre-seed and Seed at $1 and $3.33 respectively have already unlocked while the ones sold in the Balancer sale were not subjected to any lockup.
Public Sale (April 2021)
Using the Balancer Liquidity Pool Launchpad, the project raised $38 million for its initial decentralized exchange offering. 650 thousand out of 1 million ILV tokens were sold at an average of $58.46. The remaining 350k ILV unsold tokens were added to the ILV Treasury.
$8.9 million from this public raise was injected into the SushiSwap pool for liquidity.
Note:
Liquidity Bootstrapping is a tool that helps create a way for people to trade cryptocurrencies or other digital assets easily, even if there’s not a lot of money to start with.
The initial price of the token is set high and gradually decreases until it reaches a market price. This bootstrap is the public’s first chance to acquire ILV outside of the two Discord Airdrops.
Seed Financing (March 2021)
Illuvium closed a $5 million seed round valued at $3.33 with a total of 1.5 million ILV tokens distributed to the investors.
This round was preceded by a pre-seed funding priced at $1 per ILV token distributing 500k to the early supporters.
Overall, 2 million ILV tokens were distributed for a $5.5 million early runway funding.
Note:
Seeds are ways for a new company to get some money to start their business. This money is used to do research and create the first version of the product.
The people who give the company money are called seed investors, and they get something in return for their investment, like a share in the company or a type of stock.
Framework Ventures raised an additional $10 million on the 2nd quarter of 2023 to help support Illuvium’s contributors and accelerate the game studio’s development.