Did Illuvium raise enough money?
As many know by now, Illuvium has just raised $10m through Framework capital ventures which has previously showed tremendous faith in Illuvium Labs and the Illuvium DAO. But is it enough?
It is time for me to start trying out a slightly new format of writing. As many readers already know, this newsletter is a place where I come to throw all of my unfiltered leftover thoughts onto the page and really talk about deep topics I don’t have the time to turn into videos. I usually try and cover 3-4 major topics but instead I am going to cover many more but with far more brevity and really put my heart and soul into one key topic I feel strongly about.
Here is what I will be covering in this newsletter:
Some quick tips for Illuvium Overworld PB2
One key thing to know about singularity scanners in Illuvium Zero
What do these new leaks mean for Illuvium?
Could Illuvium possibly fail even with this $10m?
Could Revdis be coming soon? And just how much exactly?
We will cover all of that here and more so please keep reading. I am excited to share this journey with you.
Please don’t forget to subscribe below! It really means a lot and together we can tackle the Illuvium metaverse better than anyone else.
Get a head start with Illuvium Overworld PB2
The overworld is upon us and thousands of players are enjoying the scenery, new gameplay elements and capturing all the different Illuvials like never before. But what have they missed?
Firstly I’ll preface this by saying that I have spent the past 2 weeks researching all the rocks, ores and nodes and uncovering the hidden stats behind them. Many will already know that the Lazurite node often has shards inside it but what they didn’t know is Albite has a similar chance. On stage 3, Albite even has a better chance at acquiring shards. I believe this a combination between the added diversity in the node and a typical higher quantity of resources mined from it. More importantly it seems to have higher quality resources either way so mine EVERY Albite node if you have the chance.
The next thing to be wary of is the heat map. I instantly went to upgrade my heat map through the Mozart upgrades because it is incredibly important this time around. Now although I likely won’t keep it into the late game, given Crimson Wastes is so small you can use a powerful heat map to complete major mining runs in under 15 minutes. Given the resources are so closely bunched together, gathering resources has never been faster and I expect these strategies to evolve so stay tuned.
Lastly when you are running around in the Overworld don’t forget to take a pause and just enjoy the beautiful scenery. You can tell how unique these worlds are and they’ll continue to grow and evolve. You are apart of the journey now, don’t forget to take a pause and just enjoy it.
Master Singularity Scanners in Illuvium Zero
Illuvium Zero Season 1 has finally begun and the name of the game is discovering blueprints. However you can significantly slow down your progress if you don’t follow this one simple piece of advice.
This tip is obnoxiously simple. Do not build Material Labs until you have discovered all 5 biodata. Material Labs will quickly become useless and wasted space if you don’t have the biodata to back it up. For reference once I had all the biodata it took about 20 Material Labs 2 days to uncover all the blueprints. It’s worth noting that material labs are very consistent and have a 5% chance to uncover blueprints no matter what.
However with Singularity Scanners they have a high chance to discover the biodata of species of Illuvials that match your region. After they discover that biodata the rest become significantly more difficult. If I had to guess I’d say your last 2 biodata are maybe a 1-2% chance per scan. Therefore you need as many scanners as you can possibly get. In my experience their level and efficiency has zero impact. Fill the entire plot with scanners and scan them all once a day. In about 1-2 weeks you should have all the biodata, then sell those scanners, buy labs and voila, mission complete.
What do these new leaks mean for Illuvium?
Just when I think I have seen everything they blow my mind yet again.
In the video above I have covered my thoughts on many of the recent leaks and as the title says, I have never been more bullish. More recently we saw comprehensive climbing and vaulting animations get built out in under 2 weeks. This shows not only the dedication of the team but their attention to detail, speed and efficiency.
The NFTs presented in this game are something even better than the cosmetic items and equipment found in many popular Web 2 games. Being a big Call of Duty player myself I can admit that these cosmetic collectables blow all of their weapon camos out of the water. Although cosmetic skins don’t make a bad game good, I definitely think they enhance the overall experience and the more items there are to collect the more progression points there are for new and returning players. These are collectables I could truly see people buying not as an investment but because they want to own it and use it within the game. That is a feeling you cannot force or fake.
Are Illuvium’s runway concerns resolved?
Illuvium has just received more capital from an investor that already has a large stake in Illuvium, Framework. But is $10m enough?
I am going to delve into some really basic numbers to understand where this truly positions Illuvium. The first thing to note is this puts Illuvium at approximately 20-24 months of runway at its current burn rate. This comes with the assumption that more capital may need to be deployed closer to the launch date. We can now expect that Illuvium has a significant runway buffer all the way up until Q4 2024 - Q1 2025. This is important considering the macro economic factors are not improving anytime soon however Bitcoins next halving will occur early in 2024. Although this doesn’t guarantee a bull run it may certainly offer some relief for the markets.
The key detail is Illuvium becoming self sustaining. Once the game launches, Illuvium needs to make a certain amount of revenue to be able to maintain its current team and continue building. As it stands Illuvium still has a surplus of just over 1 million ILV tokens, considering only approximately 7-8m tokens might be staked at any given time, at maximum Illuvium is entitled to about 12 - 15%.
Given the current burn rate is approximately $1.1m a month the Illuvium universe would need to generate approximately $8.5m every single month to offset the current burn rate. But here is the best part. If Illuvium did launch at the end of 2023 then it would have about 12 months of runway remaining to claw back any amount of revenue it needed. For example if the total revenue was $5m per month, then Illuvium would gain $500k+ worth of tokens which could bring their 15% revdis up to 16% or even 17%. And as this continues Illuvium would require less and less revenue to be generated to help them offset any burn. I think its quite clear that even thinking conservatively, 12 months is a super helpful buffer to allow everything to reach its equilibrium and make Illuvium the most sustainable Web 3 project in existence.
Are revenue distributions in Illuvium’s future?
Some may have already realised but stakers may receive Revenue Distributions in the next couple of months based on the Safety Pool IIP.