Illuvium Labs, the gaming studio behind the anticipated blockchain gaming universe Illuvium, announced this week that it has raised $12 million in Series A funding as it gears up for the launch of its interconnected game titles in Q2 2024. 

The fresh capital injection was co-led by King River Capital, Arrington Capital, Animoca Brands, and The Spartan Group, with participation by investors including Arca, Polygon Ventures, 32-Bit Ventures, and Yield Guild Games.

The Illuvium gaming universe spans three core game experiences: monster-battler Illuvium Arena, open-world action/adventure game Illuvium Overworld, and base-building game Illuvium Zero. They’re collectively built around interoperable assets within the Ethereum ecosystem, including on scaling network Immutable X.

In addition to revealing plans to debut the games in the second quarter of this year, an official press release also teases an impending token airdrop. “There are whispers of a significant airdrop planned for the game's community,” the press release notes, “rumored to be worth more than $25 million.”

Illuvium’s ILV token is currently valued above $150, and nearly touched $160 earlier this month—the highest price point registered since 2022.

Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.