Crypto RPG Illuvium’s Native Token Surges After Binance Listing
Free-to-play decentralized role-playing game token, Illivium (ILV), is seeing huge growth after the world’s largest crypto-trading platform Binance, listed the crypto asset. Following the listing the token surged 40%.
Illuvium is a decentralized open-world RPG adventure game built on the Ethereum Blockchain, utilizing non-fungible tokens (NFTs).
The game allows players to collect NFT creature tokens by battling it out online. The ILV token is used as the in-game currency. Earned ILV coins can be used for staking, it will allow the privilege to be involved and vote on future protocol updates while holders can also earn a share of the game’s revenue.
Amidst times of massive gas fees on the Ethereum network, Illuvium has selected the ImmutableX blockchain to allow users to avoid paying the gas fees that normally come with trading NFTs. The white paper states:
“One of the primary issues NFT projects and users are currently facing is the cost of performing transactions on the Ethereum network.
With limitations on the number of transactions ETH can handle, users on the network have bid up gas prices to ensure their transactions quickly settle… ImmutableX changes this, allowing users to trade their NFTs without paying gas fees.”
The role-playing game has a loyal community, with over 150,000 members. Illuvium’s native token is currently trading at $478.39 per CoinMarketCap. Already a considerable drop from $636.41after its Binance debut two days ago.
Online crypto role-playing games have become increasingly popular this year. Just recently MIR4 launched in 170 countries all across the world.
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Author: Peter Siu