Web3 game Illuvium raises $10M from Framework Ventures

The American crypto VC Framework Ventures has completed a new investment in blockchain gaming studio Illuvium.

Framework Ventures doubles down on Illuvium. The venture capital firm, which launched a $400 million fund last year, has just invested 10 million dollars additional investment in Australian game studio NFT.

The news was announced in the Discord ofIlluvium then confirmed by Framework Ventures co-founder Vance Spencer on Twitter on Wednesday.

Framework is doubling down on @illuviumio with a $10M investment to continue building the future of crypto gaming

The timing couldn’t be better

🙂 https://t.co/iI4Ckk3TDq

– Vance Spencer (@pythianism) May 30, 2023

The studio’s flagship title, also named Illuviumis still in beta and is based on Ethereum and Immutable X. The open-world and play2earn takes the form of 3 distinct games: Overworld, Arena and Zero.

The newly-raised funds will be used by the company to accelerate the development of its product and reward the people who help build ” the Illuvium universe “.

Framework Ventures had led a $5 million funding round for Illuvium in 2021. Last summer, the studio had announced had sold over $70 million worth of lands.

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