We will start today’s article with the basics. This is where you will learn what the Illuvium crypto project is all about. We’ll also cover the project’s fundamentals, roadmap, and community. Next, we’ll shift our focus to the ILV coin and start off by answering the question, “What is the ILV token?” Plus, we’ll explore this crypto’s tokenomics and use cases. Nonetheless, we’ll also do our best to offer some insights into what the future may hold for the ILV coin.
However, since most of you primarily want to know if you can make some money by trading the Illivium coin, we’ll also dive into our $ILV price analysis. Using TA and comparing the Illuvium crypto project with other popular Web3 gaming projects, we’ll offer some $ILV price predictions.
Essentially, this article will help you determine if this GameFi project’s token deserves further attention. Additionally, to help you answer if you should buy $ILV or not, you’ll want to use Moralis Money – the industry’s leading on-chain analysis tool!
What is the Illuvium Crypto Project?
The Illuvium crypto project is a Web3 gaming project on a mission to deliver an enthralling series of fully decentralized RPG and collection games. The project launched its ILV token in 2021; however, the first private beta of the Illuvium game went live in December 2022.
So, the games offered by the project are still in their early stages. Still, many believe that Illuvium is poised to be the number one Web3 gaming project of the next bull run.
The project currently focuses on the following four games that are all interlinked as part of the Illuvium universe:
- Overworld
- Registrations are open for beta on Mac and Windows (at the time of writing).
- Zero
- Alpha available for land holders (on Mac, Windows, and Android).
- Arena
- Registrations are open for beta on Mac and Windows (at the time of writing).
- Beyond
- Already live and available on IlluviDex.
Note: In this article, we’ll focus more on the gist of the project and the Illuvium coin. However, we have a separate article exploring the Illuvium game in more depth.
Fundamentals
At the core of the Illuvium crypto project is blockchain technology and all the new possibilities it brings to the gaming industry. Namely, it introduces a concept of decentralization and ownership rights for players.
Players can export their in-game assets and trade them into cryptocurrency, providing real-world value. Moreover, this is also known as GameFi and play-to-earn (P2E).
Thanks to programmable blockchains like the Ethereum network, many projects, including Illuvium, can create interesting games with financial incentives. Illuvium’s goal is to establish a stable platform that appeals to cryptocurrency enthusiasts, gamers, and technologically-savvy individuals.
To achieve that goal, Illuvium aims to ensure seamless onboarding, a liquidity mining program, game objects as NFTs, and interoperability through NFTs. Now, to overcome the issue of exorbitant trading fees on the Ethereum chain, the project also utilizes Immutable X’s scaling solution.
Plus, Illuvium is also a fully decentralized protocol whose primary goal is to ensure a triple-A blockchain gaming experience. So, aside from tokenized in-game assets that can be freely traded on Illuvium’s native marketplace or other secondary marketplaces, the project also allows its stakers to vote on various aspects of the game and its tokenomics.
The game series itself is all about exploring the beauty and wonder of a digital landscape, hunting dangerous creatures, capturing them and using them for battles (think of Pokemon), or trading them on the exchange. Additionally, all the Illuvium games are interconnected. As a result, they allow players to utilize their assets in various ways across the series.
Roadmap
With the above-outlined info in mind, Illuvium essentially positions itself as a decentralized studio building the world’s first interoperable blockchain game (IBG) universe. It’s not wrong to think of it as some sort of a metaverse. The latter includes an open-world exploration game, an industrial city builder, and an “auto battler.”
The project embarked upon this journey in quarter four of 2020 with its pre-seed round. Here’s an outline of major milestones (events) that the project has already completed:
- Pre-Seed Round (2020, Q4)
- Initial Prototype (2020, Q4)
- Transition to Unreal Engine (2020, Q,4)
- Seed Sale (2021, Q1)
- Balancer Liquidity Bootstrap Sale (2021, Q1)
- Token Smart Contract (2021, Q1)
- First Cinematic Trailer (2021, Q1)
- Staking V1 (2021, Q2)
- Auto Battler Trailer (2021, Q3)
- Land Sale 1 (2022, Q2)
- Staking V2 (2022, Q2)
- Illuvium Arena Private Beta 1 (2022, Q2)
- Illuvium Arena Private Beta 2 (2022, Q3)
- Illuvium Overworld Beta (2022, Q2)
- Illuvium Zero Alpha (2022, Q4)
- Illuvium Beyond Wave 1 (2023, Q1)
As far as the near-future project’s plans go, refer to the following events and estimated timeframes:
- Illuvium Zero Season One (2023, Q3)
- Illuvium Store (2023, Q3)
- Illuvium Overworld Private Beta 2 (2023, Q3)
- Illuvium Overworld and Arena Private Beta 3 (2023, Q3)
- Illuvium Beyond Wave 2 (2023, Q3)
- Illuvium Final Private Beta (2023, Q4)
- Illuvium Public Beta Launch (2023, Q4)
- Illuvium Beyond Wave 3 (2023, Q4)
- Illuvium Beyond Wave 4 (2024, Q1)
- Illuvium Arena Mobile (2024, Q2)
Community
Projects in Web3 are community-powered. As such, if a project wants to succeed in crypto, it must create a strong community. For that purpose, the Illuvium crypto project has utilized several outlets.
To explore these options, feel free to visit the project’s official website and hover over the “Community” menu option. Then, select any of the available platforms from the drop-down menu:
Exploring the ILV Coin – What is the ILV Token?
The ILV coin (a.k.a. the Illuvium coin) is the Illivium protocol’s native cryptocurrency. It is a fungible asset that lives on the Ethereum blockchain. It was minted on March 21, 2021, with 7,000,000 $ILVs:
Tokenomics of the ILV Coin
These are the core tokenomics of the ILV token:
- Name: Illuvium
- Symbol/ticker: ILV ($ILV)
- Network: Ethereum
- Token type: ERC-20
- Initial total supply: 7,000,000 $ILV
- Fixed supply: No (the ILV token is mintable)
- Token distribution:
- 500,000 $ILV (pre-seed)
- 1,500,000 $ILV (seed)
- 1,500,000 $ILV (team)
- 1,500,000 $ILV (treasury)
- 1,000,000 $ILV (launchpad)
- 3,000,000 $ILV (yield farming – ongoing)
- 1,000,000 $ILV (in-game rewards)
Use Cases
The Illuvium coin has two primary use cases. First, it serves as a governance token for the Illuvium ecosystem, allowing ILV holders to influence the project’s direction. Second, it is a crypto asset that can be freely traded across various marketplaces, including its native one (IlluviDex) and several CEXs and DEXs.
So, the ILV token is not an in-game asset and is not required to play the Illuvium games. For the purpose of representing in-game objects, the Illuvium crypto ecosystem utilizes NFTs.
What is the Future of the ILV Coin?
The future of the ILV coin is more or less set, at least from a technical perspective. After all, its smart contract lives on the Ethereum chain. Of course, the governance body of the project can propose and accept some alterations and introduce additional use cases for the token.
Full ILV Coin Price Analysis
The above logarithmic weekly chart for the ILV coin price paints a full picture of where the token’s price is coming from. According to TA (technical analysis), it also drops some hints to what’s likely to come.
However, before we analyze the price of the asset any further, it’s worth pointing out the following:
- Early (pre-seed and seed) investors purchased 500,000 ILV tokens at $1 each and 1,500,000 ILV tokens at $3.
- The listing price of the Illuvium coin was set at $50 using a Balancer Liquidity Bootstrapping Pool (BLBP), which was initially pushing the price down.
In the first two weeks after $ILV started to trade, its price more than doubled. But then the selling pressure increased, and the price of the token took a downturn. It reached its lowest point on June 22, 2021, at approximately $29.
From that point, the $ILV price started to recover with the rest of the crypto market. The asset pulled off quite a rally – it increased in value by more than 65x by the end of November of that same year. This was when the price marked its all-time high (ATH), slightly above $1,900 per token.
However, as BTC reached its high and the rest of the crypto assets started to pull back, so did $ILV. In just 54 days, the value of the token decreased by more than 70% and found a temporary relief rally from the $500-ish level. But the support at that price range got retested a couple of times and finally broke down on May 5, 2022.
Level after level got broken until the price of ILV finally found new support at $38-ish in November 2022.
The Price of the Illuvium Crypto Token in 2023
To focus on ILV’s price following the aforementioned low in November 2022, let’s look at the above daily chart on a regular scale. You can see that the token tried to move above its listing price but didn’t have enough fuel at the time. So, the price came back down to the $28-ish level for the second time.
After forming a neat double bottom, $ILV pulled off quite a run in January 2023. However, the $100-ish barrier proved to be too strong of a challenge. Thus, the asset’s price entered a downtrend again. The latter also ended at the $38-ish level, which has proven to be a strong support.
After touching that support on July 8, 2023, the price first ranged sideways until the end of that month. However, on August 3, 2023, the price started climbing toward the $50-ish level again. At the time of writing, the price sits around $53-ish. And it seems as if the cryptocurrency has successfully retested that level and turned it into new support.
ILV Coin Price Prediction
By looking at the above weekly and daily charts, you can see all the most significant levels of support and resistance (blue lines). These price regions are also the most likely future prices of the ILV token. So, if the rest of the crypto market continues to gain momentum, $ILV has the potential to go much higher. After all, the current price is still more than 35x below its ATH. The project now also has games up and running, while back in 2021, the pump was mainly backed by the idea.
However, given the interest in the Illuvium ecosystem, ILV could break above its ATH in the upcoming bull market. To get some tangible price level for such a scenario, we can use the Fibonacci retracement tool. So, if we use the ILV ATH price and the token’s recent low, the most optimistic level (the “4.236” extension) points to $7,900-ish.
We could compare it with one of the most successful P2E projects – Axie Infinite. By doing so, the price prediction points to $1,900-ish. That price was calculated by taking AXS’s ATH market cap value and dividing it by ILV’s current circulating supply.
Note: If you’d like to read up on other gaming coins, make sure to check out one of our previous articles exploring top gaming tokens.
Is the Illuvium Coin ($ILV) a Good Investment?
The above sections should be more than enough to help you determine whether or not the Illuvium crypto project deserves your further attention. However, to answer the above question with confidence, you need to DYOR for the token. The best place to do that is the Moralis Money Illuvium ($ILV) token page.
On that page, you can find all the resources and tools you need to build your personal opinion about what makes $ILV a good or a bad investment. Also, do not forget to consider your financial situation and your risk tolerance before taking the next step.
Nonetheless, don’t forget to decide whether you only want to trade ILV or if you’d also like to stake the asset to join the Illuvium crypto project’s governance. In case you decide on the latter, your in-depth research should be even more detailed.
Either way, follow the above token page link or use the interactive widget below to determine if the Illuvium is a good investment for you. And if you decide that you want to get a bag of $ILV, do not forget to consider Moralis Money’s alpha metrics for that asset. After all, these real-time, on-chain insights will tell you whether the token is gaining or losing on-chain momentum.
Where to Buy the ILV Token?
There are many ways to buy the Illuvium coin. For instance, you can visit the token’s official website, hover over the “Token > Buy ILV” option in the top menu, and then select one of the available options. However, since you’ll already be researching the asset on the above-presented page, you can use Moralis Money’s instant crypto swap feature. It is fast, simple, and safe!
Note: If you are new to swapping tokens, use our step-by-step guide on how to swap ERC20 tokens.
Full Illuvium Crypto Analysis and ILV Coin Price Prediction – Key Takeaways
- The Illuvium crypto project is one of the leading Web3 gaming projects.
- Illuvium went live with its native token – the ILV coin – in 2021.
- The price of $ILV has been through a lot and currently sits about 35x below its ATH.
- According to the project’s fundamentals and TA, the upside potential is higher than the downside.
- Use Moralis Money’s token page for ILV and DYOR for the asset and the project properly to determine if it’s a good investment for you.
- If you wish to buy the Illuvium coin, you can do so without breaking a sweat or the bank on the Moralis Money Illuvium ($ILV) token page.
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