What is Illuvium (ILV) and How Does it Work?
For those who are unfamiliar, blockchain technology has expanded beyond cryptocurrencies. Though tokens are a major part of blockchain platforms, the technology has expanded to areas like decentralized finance (DeFi), non-fungible tokens (NFTs), and even decentralized gaming. Illuvium, a blockchain-based game, has become a focal point of the latter.
As investors focus on an Illuvium price prediction, growth and development of the game become critical. The native token, ILV, remains a valuable investment commodity, but investors are watching closely to see whether the once-vaunted token can rebound and if Illuvium can re-establish itself as the top name in blockchain-based gaming.
What is Illuvium (ILV)?
To put it briefly, Illuvium is a fantasy role-playing game (RPG) developed by a decentralized autonomous organization (DAO) known as Illuvium DAO. This game is hosted on the Ethereum Blockchain and first came to be in its January 2021 launch.
It has been described as “a decentralized, NFT collection and auto battler game built on the Ethereum network.” Within the game, players explore a massive 3D open world. They travel the map with the aim of capturing beasts that are deity-like. These beasts are known as Illuvials.
Defeated and captured Illuvials are then represented in the form of NFTs. These NFTs, stored within the Ethereum blockchain, have a real-world value attached to them. Players can then use any Illuvials that they have gathered and battle other players within the game to win ETH, the native token of Ethereum.
Players are able to explore freely, engage in one-on-one battles, and collect Illuvials (NFTs). At the time of its release, Illuvium was believed to be the first blockchain-based AAA game of its scope. There have since been others to debut within the decentralized gaming space, but Illuvium remains a ground-breaker.
Who are the Founders of Illuvium (ILV)?
Illuvium is the creation of a trio of brothers. Though CEO Kieran Warwick is perhaps the most visible of the group, his collaboration with brothers Grant and Aaron in 2020 led to the game’s eventual launch in early 2021.
Inspired by the NFT space and blockchain gaming, the trio eventually took their own gaming inspirations to create a massive open-world RPG and auto-battler. The Warwick trio created a AAA-quality, fully decentralized game with a focus on key blockchain principles like interoperability and ownership.
What Makes Illuvium (ILV) Unique?
As the blockchain-based gaming space continues to grow, it is important to determine just what makes Illuvium a unique offering. As it turns out, there are plenty of features that make Illuvium one of the biggest names in the marketplace.
Decentralized Governance
At the heart of Illuvium is its decentralized governance structure. One of the challenges facing blockchain technology is remaining committed to the idea of true decentralization. As a game governed by the people, that is precisely what Illuvium continues to do.
Users who stake ILV tokens earn sILV tokens. Those tokens can then be used to vote on anything within the game’s ecosystem. That includes things like tokenomics, in-game features, and so much more. Votes are calculated to determine five members of an Illuvinati Council, which then governs the game. There is no need for a centralized authority figure because the people of Illuvium handle its governance.
Economic Opportunity
Behind virtually any blockchain technology is the potential for monetization. While the focus of Illuvium is the game itself, there is potential for economic earnings as well. Players can earn rewards throughout the game, including NFT assets like the Illuvials, deity-like beasts that can be located, battled, and captured.
There is also the market value of ILV, Illuvium’s native token. Though it has come down substantially since its high of more than $1,800 just after launch, ILV remains a viable investment option, even trending upward in recent months. There is potential economic opportunity even for low-income levels, making it a diversely available game.
Tangible Rewards and Virtual Ownership
At the heart of any blockchain-based game is the ability to earn rewards. Players travel across a massive 3D open world in pursuit of Illuvials, the mythical beasts that act as the main antagonist in the game. Players battle these Illuvials, defeating and capturing them.
The unique thing here is that you don’t simply capture Illuvials and move on. Those conquests become NFTs, which are then transferred to the player’s wallet. NFTs hold real-world value and can even be traded on certain exchanges. Each character is fully 3D and has its own unique individual features, lending to its collectability and value.
Zero-Gas Fees
Because it uses the Immutable X Integration, there are zero gas fees on Illuvium. Even better, transaction finality is virtually instantaneous. Given that players can sell and trade NFTs, it creates a substantial advantage when it comes to transaction processing.
The zero gas fees make it far more reasonable for players to undertake transactions. Compared to other games that employee fees, it can mean major savings when it comes to processing these NFT transactions.
AAA Quality
There are plenty of other blockchain-based games out there to choose from. What separates Illuvium from the rest is its level of quality. A comparable game, Axie Infinity, may have a similar premise, but features 2D graphics and a much lighter tone.
Illuvium, meanwhile, has been granted AAA quality status. With an immense open world to explore, not to mention beautiful 3D models, the game is far more immersive than many other similar titles. This gives players a far more interactive, engrossing experience, making it feel like you are right there on that 3D world hunting down the vaunted Illuvials.
Play-to-Earn and Unique Collectibles
Though the concept of earning rewards through gameplay is not necessarily ground-breaking, the way that Illuvium does it is what makes the game unique. As mentioned, players can travel throughout the Illuvium world seeking out mythical, deity-like beasts.
Rather than simply battling them and adding those conquests to a digital catalog that can’t be used, those beasts are then converted into collectible rewards. Additionally, players can partake in a litany of different play-to-earn features. Tournaments, competitions, and even competing PVE quests are all available to provide players with the opportunity to earn great rewards.
How Many Illuvium (ILV) Coins are There in Circulation?
There are two key values (aside from market price) to consider when analyzing any cryptocurrency token. Those two values are maximum token supply and circulating supply. The former indicates how many possible tokens there are under that platform. The latter indicates how many of those tokens have been released to the public.
When it was created and launched in 2021, Illuvium issued 9,598,250 ILV tokens. As of May 2025, more than 9.423 million ILV tokens have been released into the circulating supply. When the max is reached, no more ILV tokens will be released for public consumption.
How is the Illuvium Network Secured?
Security of the Illuvium DAO network comes through a collection of individuals. These individuals are ultimately governed by algorithms and code on the DAO blockchain. Rather than have a centralized authority like most other gaming entities, Illuvium is fully decentralized.
Illuvium is governed by holders of the ILV token. Holders are able to use their tokens to nominate individuals to join the Illuvinati Council, a group elected to run and govern the DAO. Individuals that are nominated become candidates for the council. There is then a 72-hour voting period, which ultimately results in five individuals being elected to the council. This council is then responsible for governing the DAO and following its best interests.
This method of governance is unique in that it puts responsibility in the hands of the users. Because it requires a financial investment – staked ILV – to become part of the voting process, the potential for corruption or sabotage has been drastically reduced.
Illiuvium Ecosystem
How does the Illuvium gaming ecosystem work? There are a few major features that are part of the Illuvium ecosystem, helping drive the DAO forward. These are perhaps the most important aspects of the Illuvium ecosystem.
Illuvium Staking and Tokenomics
Staking – the process of buying, holding, and committing a cryptocurrency in support of the blockchain’s operations and security – is one of the most vital features in the Illuvium ecosystem. This is largely because of the DAO’s decentralized governance method, which is heavily tied to staking.
Players can purchase Illuvium or earn it by completing in-game quests, battles, and activities. Rewards are paid out as sILV, which is the staking token of Illuvium. An ERC-token, sILV is tied to the valuation of ILV. Players can stake their rewards for voting power in the ecosystem, earning a say in game developments, governance, and all other happenings within the game.
The Illuvium ecosystem is managed by its native token. It is the primary currency and comes with a wide range of uses. First and foremost, it is involved in the governance of Illuvium. Rewards can be earned through not only completing activities but providing liquidity and staking as well.
ILV is then used to pay for any costs or transaction fees that come with operating the Illuvium platform. With a capped supply just under 10 million tokens, 50% of its distributed tokens have been allocated to advisors and Illuvium team members. Of that distribution, 25% has been allocated to the Illuvium Treasury, 20% to the ecosystem (liquidity incentives and overall growth), while the final 5% have been allocated to marketing and community initiatives.
Quests, Battles, and Other In-Game Activities
At the heart of Illuvium is the game itself. Users sign up to play and explore the massive 3D open world. The cool thing is that the Illuvium ecosystem offers a vast array of different features and in-game activities that players can enjoy.
Quests. Operating out of a home base of Sanctum Mesa, players can engage in quests. The ultimate goal is to acquire more Illuvials, and the quest option presents a linear way for a more traditional gaming experience.
Battles. Players can also enter the arena, where they can use their captured Illuvials to do battle in a matchmaking queue. Challenges can be issued to do battle in the Leviathan Arena where spectators can wager on the outcome.
Open world exploration. While not participating actively in quests or head-to-head battles, players can also explore seven different biomes. Each of them has unique challenges, travel methods, and landscapes. Abyssal Basin, Brightland Steppes, Crimson Waste, Sanctum Mesas, Crystal Shores, Halcyon Sea, Shard Bluff Labryrinth, and Taiga Boreal provides a chance to experience unique encounters.
Illuvials, The Forge, and Fusion
Illuvials, once they are collected, can be made more powerful. This comes through the fusion aspect of the game, taking three fully leveled Illuvials and merging them into a more powerful entity. The best rewards come through battles and only through fusion can Illuvials become stronger, better in combat, and worth more ILV.
In addition to winning and building more powerful Illuvials, weapons and armor can be crated using The Forge. Both armor and weapons are represented as NFTs in the same way that Illuvials are.
FAQs
What is the highest and lowest price for Illuvium (ILV)?
One of the best ways to gauge the staying power of a token is to look at its price history. Illuvium has had one of the most drastic swings in price of any cryptocurrency token. Its launch price was at $101.15 per token in July 2021, eventually hitting an all-time high of $1,820 in December 2021.
Unfortunately for Illuvium, it experienced a rapid decline and has steadily been losing value in the months and years since. It recently experienced its lowest price ever, hitting a low of $10.86 per token in April 2025, though it has since begun to rebound, currently trading at $15.92 per token as of May 20, 2025.
What is the fully diluted valuation of Illuvium (ILV)?
The fully diluted valuation of a token comes when the maximum supply has reached circulation and is multiplied by the current market value of that token. There is a maximum token supply of 9.598 million ILV. At a market price of roughly $15.92, that gives us a fully diluted valuation (FDV) of roughly $152.45 million USD. It is important to note that the fully diluted valuation can shift with any changes in market valuation.
How does Illuvium compare with Axie Infinity?
The most closely related platform may be Axie Infinity. Both are blockchain-based games. Both feature collectible characters, which can later be stored as NFTs. But that may be where the similarities end.
The style of the games is quite different. Axie Infinity is a quirky, 2D game featuring more adorable characters and less tense battles. Illuvium, on the other hand, is a comprehensive 3D RPG that has a huge, explorable world. Additionally, Illuvium has a storyline that players can work through, unlocking additional rewards in the process. Finally, Axie is more focused on breeding and battling Axies in a style reminiscent of Pokemon.
Axie is simpler at its core, though perhaps a bit more accessible, particularly for beginners. Illuvium is far more expansive and immersive, though it can take a bit of a learning curve for newcomers to get the hang of.
What is the sILV and ILV token?
ILV is the native token of Illuvium. It has a variety of uses within the Illuvium ecosystem. There is also the sILV token, which is escrowed Illuvium. This is not only a cryptocurrency but a synthetic token as well. Everything operates on the Ethereum platform, and sILV is used for in-game spending, particularly for things like shard curing and travel. Directly linked to the value of ILV, sILV can be obtained by staking ILV within the protocol.
What is the premise of the game?
The premise of Illuvium, a 3D open world game, is to explore environments and capture strange beasts. As more of the obelisks are unlocked, players can cover a larger portion of the map, challenge stronger and stranger creatures, and even fast travel to portions of the map. When a beast, known as an Illuvial, or any other in-game items are acquired, they are transferred to the player’s wallet, then available as NFTs.
How is the game governed?
Illuvium is a decentralized autonomous organization, also known as a DAO. Within this structure, a group of individuals are governed by algorithms and code issued through the blockchain rather than any kind of central authority. For the most part, DAOs are governed and directed by users through a majority rule.
ILV token holders are able to nominate individuals that can become part of the “Illuvinati Council.” This council is elected and responsible for running the DAO. Individuals that are nominated become candidates to join the council. After a 72-hour voting period, five people are elected and govern the platform. They enact any necessary changes that have the best interests of the DAO in mind.
What are the potential use cases for Illuvium?
One of the key factors of any digital asset is its potential use cases. Because of its nature as a blockchain-based game, there are relatively limited uses. That said, there are four main use cases outside of the ILV token being an investable asset.
Governance. Holders of ILV are able to actively participate in the governance of Illuvium DAO. Token holders are able to vote on proposals as it relates to the game’s features, development, and any potential economic parameters.
In-game purchases. The ILV token can also be used for any number of in-game purchases and transactions. That includes paying for services like shard crafting and curing, purchasing NFTs like items, land, or Illuvials, and any other mechanics within the game.
Staking and rewards. Another option is that players can take their ILV tokens and stake them. Doing so earns them rewards from liquidity mining, in-game revenue, and any other form of incentive offered by the platform.
sILV2. ILV may also be converted to sILV2, which is the in-game currency. It can be used for in-game purchases without facing a lock-up period and is pegged to ILV’s valuation.
What other assets are similar to Illuvium?
Illuvium is far from the only option in the blockchain-based gaming space. There are similar projects and competitors within the realm. Perhaps the most closely linked game is MiningTycoon. That said, The Sandbox, PepeDex, EvolutionLand, and MOBOX are also similar concepts that have differing levels of followers across various social media platforms.
What is the history of Illuvium?
Illuvium’s history is a relatively short one. Initially founded by Kieran Warwick and launched in September 2020, this blockchain-based gaming platform rose quickly. Warwick founded Illuvium with his brothers Grant and Aaron, inspired by blockchain gaming and the NFT space.
While debating the game’s genre, each brother pulled from their own inspirations. Ultimately, a game was designed to be a combination of an open-world RPG with an auto-battler. With AAA quality in mind, the trio helped to create a fully decentralized game that focuses on the key principles that blockchain gaming is meant to represent: ownership and interoperability.
