In January 2011, the game's initial announcement went out and many described it as an auto fighter game that functions on the Ethereum network and could pass as an NFT collection which is decentralized too. Through this article, you'll find out more about this groundbreaking game and the essential facts you should understand about it.
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What Is Illuvium?
Unlike its counterparts, IIlluvium serves as both a collectible token and an auto battler role-playing game. Users are given the key to a door of clear-world immersive game experience in a vast world filled with deity-like beings known as Illuvials.
These creatures exist as NFTs with significant value on Ethereum's blockchain. Players can engage in a variety of activities around them, ranging from mining to reaping the benefits of these creatures. It doesn't end there. After defeating these beings, players can capture and heal them. Following this, they join the player's assemblage as a loyal soldier who can fight other adventurers for ether (ETH) as compensation. This reward is also a part of Illuvium's auto fighter gameplay.
Illuvium gives its players some freedom to either experience the heights of the game space or develop their collection of strong Illuvials. Additionally, this game which you can play freely also possesses its primary cryptocurrencies, ILV, and sILV. ILV tokens serve as compensations for gamers when they finish battles, adventures, and challenges. Illuvium also contains Non-Fungible Tokens (NFTs) that stand for not only Illuvials but also corrective enhancements and useful collectibles.
A Brief History Of Illuvium
Currently managed by a worldwide team of more than 75 individuals with years of experience across several fields, the development of Illuvium has started in 2020. Its co-founders, versatile entrepreneur and early cryptocurrency adopter Kieran Warwick, and skilled game designer Aaron Warwick, are also part of the building team.
As you may have guessed, they are brothers who also happen to be related to Kain Warwick, the co-founder of DeFi platform Synthetix. Illuvium's game producer, Nate Wells, has also worked on hit games like Bioshock, The Last of Us, and Rise of the Tomb Raider.
How Does It Work?
The functional elements in Illuvium center around the blockchain. As much as it exists in this light, it's pretty similar to an advanced video game. This game gives access to players via a PC app that they can download. Illuvium possesses a plethora of encouraging DeFi applications too. Talk about a yield farm, they also add a decentralized exchange.
As briefly explained above, Illuvium starts when a spaceship lands in a strange habitat with different climates, harsh weather conditions, several places, and alien beasts. The game proceeds with players acting as hunters that have to track down and catch beasts called Illuvials. These beasts carry several qualities that give them an edge while making them wavering in their functionality, rarity, and significance. These features include:
- Affinities
- Fire, Water, Air, Earth, and Nature.
- Classes
- Fighter, Rogue, Guardian, Empath, and Psion.
Though these qualities are majorly its significant parts, each one of these beings possesses a tremendous amount of added qualities that assist in defining its fighting power; some of them consist of attack quickness, attack ruins, and brutality.
Reception
The strength of an Illuvial is dependent on its victory, and with the help of in-game items, users get to improve them. They also receive upgrades as a special "ascended" which implies the juicy advantages two affinities can give at once.
This quality opens the door for a myriad of combinations. The upgrade of Illuvials happens when a similar affinity gets stacked twice, which gives it strength within that particular affinity. For instance, frost Illuvial occurs when air comes together with water. Inferno Illuvium can also come as a result of when players stack two fire affinities.
In the open gaming world, over 100 Illuvials are out there for discovery. A special non-fungible token (NFT) represents each of these beings, and trades them on outside exchange platforms. Other places for trading happen for free include gas-exclusive IlluviDEX, Illuvium's online marketplace. Crypto wallets are the places users store these NFTs. For in-game Illuvials, we call theirs storage shards.
Illuvials can experience fusion into stronger forms too, where for battles, they live as better beasts and, in turn, carry a lot more value in ILV. They exist in holographic, regular, and dark holographic forms, which can be pretty rare.
Predictions show Illuvium game exhibits several revenue sources, majorly from buying in-game items, shard curing, crafting parts, and make-ups. It distributes 100% of this revenue as compensation to the ILV tokens stakers via an ILV buyback framework.
Related: How to Go About Play-to-earn Games
What Makes It Different From Others?
The qualities that make Illuvium stand out among its counterparts are not far-fetched. It exists in a totally 3D habitat, each one developed by a collection of world-class artists, guaranteeing its attraction to stakeholders who generally participate in retail games with large budgets.
Illuvium still has a few qualities that give it a unique essence from other blockchain games and AAA titles. They are:
Layer-2 Integration
Immutable X (IMX) is another foundation that acts as a safeguard for this game. This innovation is a layer-2 solution designed to help scale use cases with NFT performance. Illuvium guarantees players the ability to mint as well as trade their tokens without incurring any gas fees. In other words, players retain control of their assets and enjoy instant transaction finality when using IMX. Illuvium's structure also makes use of Zero-Knowledge Rollups, which group transactions together to improve privacy and speed. In other words, while playing the game, the act of making transactions is quick and trouble-free.
The IlluviDEX
As briefly mentioned above, Illuvium includes a built-in decentralized exchange (DEX) space known as the IlluviDEX. There are areas where players can exchange their Illuvium assets, such as Illuvial NFTs, in a safe environment. A 5% fee is deducted from each sale and deposited into the rewards pool in exchange for ILV stakes.
Yield Farming
Illuvium devotes 30 percent of its maximum supply, or 10 million, to its yield farming program. This means that 3 million ILV will be distributed to users over a three-year period while liquidity is invested and several partner compensation protocols are in place.
Comparing Illuvium To Axie Infinity
Axie Infinity and Illuvium comprise similar qualities majorly around in-game avatars players utilize as collectibles for trading, fights, and even upgrades. But somewhere you can discover their significant differences exist in the wide game world's reach that covers these factors.
To begin, Illuvium is a 3D acting game with a steadily unfolding plotline and a stretched clear and exploitable scenery. Axie Infinity, on the other hand, is a dominant, unconventional 2D game with adorable critters known as Axies. Players can trade them from battling to trading.
Second, both Illuvium and Axie Infinity have the quality of a grounded gamified DeFi element. These expressions indicate that real Ether (ETH) is at stake in the vicinity of players in either game. More importantly, these Axies and Illuvials could be very valuable on the market.
Illuvium's Illuvials are also more distinct than Axie Infinity's Axies. Axies use an uneven mix of assets to make up each component. Each expresses rigging and custom artwork to ensure that they are one-of-a-kind and have features that relate to their zone and qualities. It's vivid to infer that the two games possess certain similarities.
Axie Infinity serves as a magnet to several crypto enthusiastic audience. Still, Illuvial carries a basic objective in line with traditional gamers who may or may not be as experienced with NFTs and cryptocurrencies.
What is the Illuvium Token?
The Illuvium game possesses two ERC-20 tokens called ILV (Illuvium) and sILV that assist to strengthen the game.
ILV
This is the primary token of Illuvium. ILV is an ERC-20 coin that exists on the Ethereum blockchain and serves a variety of functions both inside and outside of the game. Holders of this token will be able to participate in the administration of the Illuvium DAO. Yield farming and staking are also covered.
The value of ILV is determined by a combination of speculation about the game's outcome and its usefulness for staking. The token is available in two variants: ILV and sILV. ILV is vested in users for a year. sILV, on the other hand, is playing with no time constraints.
There will be a total supply of 7 million ILV and sILV. This platform circulates millions as a result of staking, creating a 10 million maximum collection. As numerous users embark on already staking their coins, a lesser turn fills the circulating supply. ILV functions in three major ways:
1. As A Reward Token
For any success achieved by a player, ILV tokens is what they collect compensation for their conquests and results when experiencing the game.
2. Staking Ability
ILV gets staked in the Illuvium Vault. Here, players can stake ILV and get compensated in ILV or sILV, significantly in two methods.
- Via ILV or sILV yield farming: ILV rewards get secured for some time. Usually 12 months, this doesn't affect users as they can choose to either earn sILV, which they can squander while playing.
- Through revenue sharing: Ethereum is a token players spend, and this activity can double as ILV buybacks which can then be put into distribution to stakers. Here is a method that will move online along with the game's rollout.
3. Participating Power
Holders of Illuvium can participate in game administration through the Illuvium Decentralized Autonomous Organization (DAO). The Illuvinati Council paves the way for holders to collaborate with the commBitcoin mining is profitable in South African? Wondering if cryptocurrency mining is a worthy endeavor if you're based in South Africa? We're here to help.
Mining is one of several popular ways to earn BTC --- but is Bitcoin mining profitable? It can be, if you're able to keep your costs low.
Is Bitcoin mining in South Africa Profitable? 5 Key Factors
The profit equation in cryptocurrency mining is the same as in business:
Profit = Revenue - Cost
3/5 key factors that affect how profitable Bitcoin mining can be in South Africa are factors out of your control . Things like mining difficulty, mining rewards, and electricity costs. The remaining two factors depend on how much time and money you're willing (and able) to invest.
Here are the five things to consider when asking: is Bitcoin mining profitable in South Africa?
Bitcoin Mining in South Africa: Difficulty
Bitcoin mining involves the solving of complex mathematical problems. When these problems are solved, 'blocks' of Bitcoin are 'mined'. The Bitcoin miners who were involved are rewarded with some BTC.
Every time another 2,016 blocks are mined, the Bitcoin blockchain's self-governing system automatically increase the level of difficulty for miners. It typically takes two weeks to mine 2,016 new blocks.
Why does Bitcoin's mining difficulty increase? Bitcoin's protocol is set to generate one new block of BTC every 10 minutes. No more, no less. This is to ensure that Bitcoin's supply remains limited in order to maintain its scarcity value.
Does Bitcoin's mining difficulty only get higher over time? The level of difficulty is determined by the number of miners who are mining at a certain point in time. The more there are, the harder it is. It fluctuates, but the general trend leans up and to the right.
Bitcoin Mining in South Africa: Mining Rewards
Source: Yasar Gueltekin
The rewards that miners receive every time they 'mine' decreases over time. More specifically, it is reduced by half every time another 210,000 new blocks are mined.
Such a reduction happens roughly every four years. This is a highly anticipated occurrence within the crypto community known as the Bitcoin halving or halvening.
For example, the last Bitcoin halving was in May 2020, when the number of BTC entering into circulation every 10 minutes was halved from 12.5 blocks to 6.25 blocks. And when the number of blocks to be mined is reduced by half, so are the rewards that are distributed.
Like mining difficulty, this too happens automatically as it is hard coded into Bitcoin's protocol to ensure that its supply remains controlled. This helps ensure that the coin's supply can only decrease over time, thus ensuring that it not only retains but grows its value.
Mining Hardware
Source: Bitcoin Market Journal
Since profits equals revenue minus costs, let's look at the biggest cost factor affecting how profitable Bitcoin mining is for South Africans: mining equipment.
There are generally two ways to do this:
Use your existing computer's CPU but ensure that you have a graphics card (GPU) with at least 4GB of system memory (RAM); or
Get an ASIC Bitcoin mining machine (a specialised machine built for mining cryptocurrencies).
Naturally, you'll also need a strong internet connection, stable electricity source, and possibly add-ons like a mining rig or other accessories.
Generally speaking, the more powerful your mining hardware, the faster it can solve complex computational problems, and the higher your chances of successfully mining a block of Bitcoin.
If you'd like to dig into the details of how to pick the right Bitcoin mining machine, what they cost, and more, do check out our guide on Bitcoin mining hardware.
Electricity Costs
Source: Martina Zornig
Do you know how much your electricity bill is each month? Well, get ready for it to skyrocket if you do decide to take up Bitcoin mining.
The sheer amount of electricity it takes to keep your Bitcoin mining machine running 24/7 while also keeping the room in which it is kept cool and ventilated is one of the main things that hinders people from mining BTC.
Fortunately, South Africa has one of the lowest electricity prices in the world. As of late 2020, the National Energy Regulator of South Africa's approved average standard Eskom tariff is 128.24 c/kWh.
This is why some Bitcoin miners choose to invest heavily in their mining equipment --- to ensure that their machines can generate as much output as possible with as little energy input as possible.
Simply put, the more efficient your Bitcoin mining machine, the less electricity it consumes, the lower the costs, and the higher your chances of profitability.
Mining Software
Last but not least, some specialised software is also needed to get your Bitcoin mining operations up and running. This includes:
GPU driver: Software that facilitates communication between the different hardware components
Bitcoin mining software: Software that does the calculations and 'mines' BTC --- check out our top picks for best Bitcoin mining software.
Bitcoin wallet: A cryptocurrency wallet to keep all that BTC you earn from mining.
Conclusion
So is Bitcoin mining profitable in South Africa? We think it's safe to say that it can indeed be profitable, though it also takes a lot of patience, a generous amount of capital, and a little bit of luck.
Finally, If you'd like to get a better idea of exactly how much profits you can generate from mining BTC in South Africa, try using a Bitcoin mining profitability calculator like this one.
If you're still not sure if Bitcoin mining is for you, then why not learn about other ways to get free Bitcoins and head over to Remitano to set up your free, secure Bitcoin wallet right now?
Disclaimer: The content in this article is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice. Remitano bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links.unity on game upgrade proposals and other administration framework changes.
ILV, as an ERC-20 token, requires Ethereum gas fees from players. At times, these fees become prohibitively expensive. Make an effort to keep your ears and eyes open for ways the team can seamlessly integrate the game and ERC-20 transactions while keeping the overall cost low.
Read: What are NFTs Games? And understanding Their Impacts In the Cryptoverse
Summary
Illuvium has undoubtedly piqued the public's interest. From the announcement date of the Open Beta roll out, which is scheduled for the first quarter of this year, to its unique qualities and the release of its ILV token. With its Decentralized Finance (DeFi) staking space also being included in this mix, it's not surprising to see how widespread its traction, trading volume, and overall buzz have become.
Illuvium has a healthy growing price and gameplay mechanics similar to Axie Infinity and a few other blockchain games. Despite this, it is on its way to becoming a significant force to be reckoned with due to its unique look, feel, and functionality, all of which are of higher quality.
With grandiose plans that include a variety of mechanics and expansions that are capable of being included overtime, Illuvium certainly is one AAA experience in the NFT game world to look forward to, and we can't wait to witness the strides the innovation will make this year.
