The first Illuvium Land Sale will commence on June 2, 2022, at 09:00 UTC. The users can build an empire by securing one of 20,000 plots spread over seven distinct zones. Fuel, which is a vital component of the Illuvium economy, can only be obtained from Land. This makes this Land Sale very important for the users.
- Illuvium will set aside 25 Tier 1 plot for giveaways during the Land Sale event
- In addition, it will also keep four plots (1 of each Tier, except Tier 5) for live testing and quality assurance.
Importance of Land in the Illuvium Economy
Land is important to the economy in the Illuvium world, as the users need it for all the games. Lands are land-type NFTs that appear in Illuvium: Zero, a mobile and desktop companion game developed by the same team. It is a 3D isometric city-building game built using Unity. It is nearing its Alpha release. In addition, Illuvium: Zero necessitates a land sale, which will produce the Land that players will utilize in the game. Illuvium will host the Land Sale on the IlluviDEX and mint NFTs on the IMX.
Pricing of the Land Sale
From the start of the auction, the land sale will follow a decreasing pricing model with a beginning value that drops at 2.5 percent every minute for two hours. The plot values are artificially inflated and will swiftly decline until it is sold or returned to the Illuvium vault. To reduce botting, the system uses a Dutch Auction. The team believes that a long-term Dutch Auction is the most effective method. Thus, they use a mechanism that limits the ability of two parties to bid on the same plot, reducing the frequency of unsuccessful transactions and reducing extra GAS consumption.
Tier 5 Live Auction
Illuvium will hold a live auction for the tier 5 land plots, which will be live on Twitch. This sale will be unique because bidders will use their bids to drive up the price. The auction has a specific time to end, but each offer extends the bidding by 5 minutes.
Land NFTs of Illuvium
- The IMX will issue an NFT with information on the land plot after the user purchases it.
- A random selection will generate the site and the landmark features of the land plot.
- Thus, the deterministic function that creates this information will be maintained in the immutable blockchain contract.
How to participate in the Land Sale?
To participate in the Illuvium Land Sale, the users:
- Have to visit the official website to register.
- Should have ETH in their wallet.
- Should know about the Illuvium Economy and its various communities.
What is Illuvium?
Illuvium, a completely decentralized RPG technology, marks a new era in gaming. It gives gamers an AAA-rated blockchain play experience. Illuvium is a broken world of wonder and beauty. The gamers have to hunt hazardous monsters across the wide and varied environment, then catch them to fight in the Arenas or trade via the marketplace.
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