Illuvium has set the records for one of the most successful sales of all time by raising no less than $72 million from its recent land sale. This is 70x the USD value that Axie Infinity raised from its combined merchandising in both 2019 and 2020. Within the space of 72 hours, it had sold out all 20,000 plots. This represents 20% of the available real estate within the game. With the remaining 80% to be sold via Immutable X in the future.
The Illuvium Land Sale is officially over!
💥 All Land Plots Sold Out
💥 $72M+ in Total Sales
💥 239,388 sILV2 to be burned
💥 4,018 ETH to be redistributed
💥 NO GAS WARS
MASSIVE thank you to all participants and partners that helped make this a historic success ♊️ pic.twitter.com/adMTq6PpKe
— Illuvium (@illuviumio) June 5, 2022
This NFT merchandising event ran as a Dutch auction via a Layer1 ETH smart contract. The average price for each piece of land is $3,615. With the lowest price being $567, while some plots were sold for as much as $133,283. Speaking of records, Illuvium land sold more in this primary sale than most web3 games in all-time trading volume. This is in comparison to others like Alien Worlds, TreeVerse, TownStar, Voxels, World Wide Webb (land) and RaidParty.
Comments on the Illuvium Land Sale
According to Illuvium, its partnership with Immutable X is one of the key factors for its successful Land Sale. It creates a platform where users can get true ownership of their digital assets. The gas fees are also affordable and the transactions carbon-neutral, despite being very fast. In addition, the L2 Ethereum chain enables then gaming outfit to offer players AAA playing experience.
Re-emphasizing this fact is John Avery. Here is what the Chief Technology Officer of Illuvium had to say:
“Our partnership with Immutable was an instrumental component in our successful land sale. Their Immutable X platform enabled gas-free minting and provided the APIs we use to drive our own marketplace experience. The Immutable X platform’s performance was rock solid throughout the land sale. Working with Immutable was an equally smooth experience: they made themselves immediately available through a number of support channels, provided quick and accurate answers to our questions, and assisted us with timely operational support during both development and release. Immutable was also able to provide deep technical insight into Immutable X, and the blockchain as a whole, and they worked with us at the design level to ensure we took the best advantage of their system. The results speak for themselves.”
The head of marketing attributes the success of the sale to the blockchain’s efficiency. More so, here are the comments of Andrew Wall:
“Immutable is the partner you want when that big moment hits. Our land sale launch went off without a hitch, and Illuvium landowners have been unanimous in their praise for Immutable’s smooth minting process. Press the button, and it’s minted – it’s that simple.”