Jun 7, 2024 - Economy

🕹️ Web3 game Illuvium trailer coming today

A screenshot of a preview of a YouTube video for a videogame.

Screenshot: Illuvium (YouTube)

Maybe the most hotly awaited crypto-powered video game will drop its trailer today at 2pm ET, ahead of its July release.

Why it matters: Crypto gaming is one of the great hopes from the industry, because it promises a way to create an all-online economy.

  • While players might have to buy in to a game, they will also earn crypto assets by playing.
  • The best players will come out ahead, and the rest will at least have a sense of control over their in-game assets.

Details: The game will actually be three games: an open-world monster hunter, an auto battler and a world-building game.

Zoom in: Illuvium token, ILV, has been on the market since long before the game went live. At times, it traded for over $1,000.

  • These days, it trades for a little under $100, but that's well up from the $40 to $50 range where it was trading in fall 2023.
  • It also sold $72 million worth of digital land in 2022.
  • The game has $15 million in VC backing from Framework Ventures.

Zoom out: As an aside, before getting excited about an NFT-linked video game, be sure to look for signs that the team is credible.

What we're watching: The Illuvium game will launch on July 25.

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