Utility in a bear market

I’m talking about the kind of utility that comes from a Land Sale with an actual city builder game behind it. The type of utility that has AAA quality autobattlers being played by 7000+ people today. Not in 6 months, not in a year, TODAY. Yes, real, web 3 utility. Scarcity is critical in the crypto world. Actual utility may just be the most scarce asset of all. As the bear market roars on the cream rises to the top. In the midst of this downturn, Illuvium not only successfully sold out a 20,000 plot Land Sale that brought in $72 million for ILV holders. They managed to create a healthy secondary market for Illuvium Land where the floor price has stayed steady around .4 eth. On a day where Bitcoin just touched 22k and Ethereum finds itself at a paltry 1.2k, the Illuvium land floor is essentially flat. There’s only one explanation for this anomaly and that is in-game utility.

Grant had a discord message the other day that really hit home for me:

Now obviously Illuvium isn’t immune to the bearish macro environment. That’s not what this is about. This statement from Grant, Illuvium’s co-founder and lead graphic designer, is more about the confidence that the core team has in the game. In the end, whether the market is up or down, Illuvium will have a fantastic game that is aesthetically pleasing and fun to play. Gamers will play regardless of market conditions. For the first time in Web 3, people will buy assets for the sole purpose of using them, not for speculation.

The Land Sale was the first piece of that puzzle and Illuvitars will be next. Once again, an asset with real in game utility. Not just a pfp on social media. This pfp will be utilized in Illuvium as your identity. Win a tournament? Great! You get an upgraded badge on your Illuvitar. That’s tangible. That’s real. It is no longer speculation and dilution. Illuvium is about utility and growth.

Moving forward with Utility

As we navigate through this bear market, it’s more important than ever to recognize the builders in this space. To see what projects actually make sense and which projects are just trying to stay afloat. Look at this game:

The reality is there just isn’t anything else close. In time competition will stiffen, but right now, in this nascent corner of the Internet, Illuvium stands alone.

Thank You

As always, thank you for reading my article! Follow me on Twitter (@Rhamphy) to keep up with the latest Illuvium news, leaks and more.