I've been following Illusion since its inception and was one of the first people to express an interest. I watched the token value increase to 1,700, then collapse to 50 while waiting for an open-world game for more than 1.5 years. I'd want to explain why I'm not willing to enter or invest heavily in this field early on.
The illuvium ecosystem is quite full-featured and offers a wide range of products. Know that they want to make a game that is compatible with their entire ecosystem. The Illuvium universe currently consists of three games in development:
- Arena, an auto-battler with both PvP and PvE modes. (Pic #1)
- Overworld, an open-world creature collector with RPG elements. (Pic #2)
- Zero, a mobile base builder that generates resources. (Pic #3)
Illuvium operates as a DAO and is overseen by the $ILV token, which empowers holders to elect a representative council to determine the studio's strategic direction. The token also enables revenue distribution, with stakeholders receiving a share of generated revenue. The team comprises around 140 contributors, and the project secured roughly $50 million in early investment and public token sale.
Developing an engaging game typically requires a significant amount of funding. Game development is a time-consuming and expensive process, especially with the presence of artistic elements and other challenges. The higher the quality of the game, the longer it takes to develop. Adding gaming NFT components and complex token mechanisms can further prolong the development process, making it more challenging to modify compared to other cryptocurrency areas.
The P2E trend, in my opinion, is here to stay. These teams have got amazing amounts of financing, and regardless of whether the sector's buzz dies down the following year, they are prepared to complete the full cycle.
On this my optimism for P2E games comes to an end and my bearish mood sets in. Most games don't require a token, and we haven't seen any exciting games that people would play P2E just for the fun of it without earning (let's be a little more realistic.). The appeal of P2E games is that players get "paid" to play, but it seems that many game developers forget that the primary reason people play games is for entertainment. This situation reminds me of early social networks, and I will only change my mindset when I see promising signs in this sector. Though I'm keeping an eye on interesting projects like Illuvium, Shrapnel, WildCard, Multiverse, Helix, Elysium, and Fortnite Metaverse, I don't feel the urge to invest early or get involved in this space.
Source: https://illuvium.io Show Less
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