Framework Ventures, the well-financed venture capital firm that raised $400 million in funding last year, has demonstrated its strong interest in Illuvium by investing a substantial $10 million in the Australian game studio, known for its enthusiasm for NFTs.
Illuvium initially announced this substantial funding round in their Discord chat room, and later expressed their appreciation on Twitter, acknowledging Framework Ventures' unwavering support and exceptional commitment.
Illuvium has gained significant attention in the Web3 gaming space, despite still being in beta. This gaming platform's combination of play-to-earn mechanics and immersive open-world gameplay has captured the interest of many. It offers three engaging game modes: Overworld, Arena, and Zero. All of these games are built on the Ethereum blockchain network and utilize Immutable X, a Layer 2 scaling solution that enhances scalability for NFT projects and Web3 games, adding an extra layer of value.
Notably, this is not the first time that Framework Ventures has shown support for Illuvium. They previously led a funding round of $5 million in 2021. Shortly after, Illuvium demonstrated its ability to attract significant investment by conducting a LAND sale that raised $70 million. Now, with Framework Ventures injecting an additional $10 million, the development of Illuvium will progress at an accelerated pace.
To further enhance its success, the Web3 gaming platform has recently announced a collaboration with GameStop, another gaming platform on Immutable X. This partnership promises a "game-changing event" and the launch of the Promo D1sk sale on June 12. The sale will feature 20,000 D1sks containing pre-bonded Illuvitar NFTs, which are integral to the collectible card game experience offered by Illuvium.
By intertwining the values of community and technological advancement, Illuvium establishes itself as a prominent player in the realm of blockchain gaming. This collaborative approach paves the way for its prominent position in the ever-evolving gaming industry powered by blockchain technology.
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