Illuvium (ILV) Price Analysis: ILV Reacts As Illuvium Goes Mainstream With Epic Games Store Listing

Illuvium (ILV) Price Analysis: ILV Reacts As Illuvium Goes Mainstream With Epic Games Store Listing

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With its upcoming listing on the Epic Games Store, the blockchain-based game Illuvium could soon tap into an audience of millions of PC and mobile gamers. 

Illuvium’s listing on the Epic Games Store could bring blockchain games into the mainstream, with the store home to popular game titles such as Fortnite. 

Illuvium To Debut On Epic Games Store 

Illuvium is an interoperable blockchain game that has been developed by Illuvium Labs. The game will be available on the Epic Game Store from the 28th of November. Illuvium’s debut on the Epic Games Store comes after months of work to get the title to meet the store’s standards. Kieran Warwick, Illuvium’s co-founder, discussed the game’s evolution to cater to a mainstream audience and comply with the platform’s legal requirements. 

“The result of these efforts has not only earned Illuvium a place on a leading gaming platform but has also evolved our product.”

Illuvium was developed using Unreal Engine 5 on the Immutable X network. The game’s beta launch on Epic Games will feature three different genres, all based within the Illuvium universe. These include Overworld, an open-world exploration game and “creature capturer reminiscent of beloved classics.” The second game is an auto battler strategy game called Arena and Zero, along with a mobile and desktop city builder that ties into other worlds. According to Warwick, Illuvium’s approach of building separate game modes and genres hopes to attract a wider audience of gamers. 

“By launching three different games in three different genres, we have significantly increased our addressable market. The only issue is it has taken much longer to get to this point.”

The Struggle Of Blockchain Games 

Blockchain games featuring non-fungible tokens have traditionally struggled to break into the mainstream. This is why the team behind Illuvium has adopted the approach of onboarding more users. According to Warwick, the barrier to entry for non-Web3 gamers is a key reason behind the sluggish adoption of blockchain games. 

“One of the most frustrating things about NFT games is the notion that you need a wallet and a ton of money just to try out the game. We have removed the need for wallets, and it’s free to play. We think this is the only way to get mainstream adoption.”

Others, such as Animoca Brands, have also highlighted the hesitance of mainstream game publishers to list games that incorporate Web3 and its associated infrastructure. Robby Yung, CEO of Animoca Brands, has previously suggested that mainstream players are uncertain of the implications associated with Web3 games. They also fear that Web3 integration would bypass existing business models that rely on distribution fees. 

Warwick agreed with Yung, stating that several factors, such as game design integrity, influence this attitude. Critics have stated that the inclusion of NFTs could lead to pay-to-win mechanics or adversely impact the game design by prioritizing monetization over player experience. Another concern is regulation, especially with blockchain technology and NFTs remaining in a gray area in several regions. The volatility associated with cryptocurrencies and the crypto market is another concern echoed by mainstream publishers and the perceived prevalence of fraud. 

A Big Step For Blockchain Gaming 

Despite all the concerns, Illuvium’s listing on the Epic Games store is good news for the larger blockchain gaming industry. Warwick states the listing is a major milestone, with Illuvium sharing space with some of the most popular mainstream games. 

“This is a huge step forward. People have been saying for years that Web3 gaming is the next big thing in the crypto space.”

Web3 gaming investors have been rather conservative in backing studios building blockchain games. This resulted from a prolonged crypto bear market, calling for better due diligence from VCs.

Illuvium(ILV) Price Analysis

The news of Illuvium joining the Epic Games marketplace had an immediate impact on the price of its native ILV token, which registered a surge in price. As you can see in the chart below, ILV was trading at a price of around $65 before the news broke. Following the announcement, ILV registered a significant surge, reaching a peak of $82, a 24% increase in just a few hours. The price fell back to $74 from this level but made a quick recovery and is now trading at $78 and could move past $80 once again. Over the past month, ILV has registered an increase of nearly 94%.

Illuvium is built on the Ethereum scaling network Immutable X and is a fantasy game spanning multiple game styles, including an open-world adventure and an auto-battler competitive mode.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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