This article is an abridged version of the Illuvium Governance decision for Land Sale rules (IIP-20).
The Illuvium team has shared finalised land prices and sale formats for the upcoming Illuvium land sale. Illuvium is definitely one of the hottest crypto gaming projects out there right now, and the land sale has been a hot topic in the community for a while.
Without further ado, let’s see what the prices look like, how to buy the lands and what to expect during the initial sale.
Illuvium Land Sale Date
The first Illuvium Land Sale begins on the 2nd of June, 2022 at 09:00 UTC. Secure one of 20,000 plots across seven unique regions and build your empire. Fuel is a critical part of the Illuvium economy and can only be extracted from Land.
Approximately 5% of all in-game revenues go to landholders.
Illuvium Lands explained
Lands are land-type NFTs used in Illuvium: Zero, an upcoming mobile companion game created by the makers of Illuvium. It is a 3D isometric city building game is being developed using Unity and is getting closer to its Alpha release.
Illuvium: Zero requires a land sale, which will mint the land players will use to play Illuvium: Zero. Illuvium will host the Land Sale in the IlluviDEX and mint the NFTs on IMX.
All games in the Illuvium universe require fuel extracted from Land, making it pivotal to the economy. Fuel plays a critical role in players journey to catch and upgrade Illuvials, the collectible creatures inhabiting this universe.
In other words, owning a land in Illuvium: Zero allows you to harvest Fuel which is used in the main Illuvium crypto game. Approximately 5% of all in-game revenues go to landholders.
Illuvium Land sale pricing
The land sale uses a declining price model, configured with a starting value that declines at 2.5% per minute for two hours, from the start of the auction.
|Tier||Starting price in ETH|
|Starting Price for Tier 5 Land Plot in First Sale||Live English Auction|
|Starting Price for Tier 4 Land Plot in First Sale||80 ETH|
|Starting Price for Tier 3 Land Plot in First Sale||20 ETH|
|Starting Price for Tier 2 Land Plot in First Sale||6 ETH|
|Starting Price for Tier 1 Land Plot in First Sale||2 ETH|
Please remember that the plot prices are inflated by design and reduce rapidly over a short period until sold or returned to the Illuvium vault. The system utilisse a Dutch Auction to minimise FOMO and botting.
Tier 5 Land Auction
Illuvium will host a live event streamed on Twitch to auction the tier 5 land parcels. This auction will be different, with bidders pushing the price with their bid. There is a fixed end time for the auction, but each offer extends the auction by 5 minutes.
ETH and sILV2 are valid payment options, but not in one transaction. While sILV2 will not attract external revenue, it will incentivise current token holders to claim their yield tokens as sILV2. This phenomenon will massively reduce the total supply of ILV long term.
Landowners will have the opportunity to earn revenue from players in the main game through the novel use of a Balancer multi-token Weighted Pool. They will do so by swapping fuels they generate in-game for ETH. On the other side, players in Illuvium will exchange ETH* for fuel and use it to complete all transactions in the game except for trading between players.
The target will be for landowners to earn approximately 5% of the total revenue generated from in-game purchases in Illuvium.
Change To Illuvium Pricing
The goal for Illuvium: Zero is to make it exciting for landowners to have some agency, which includes influencing the price of the fuel they swap and having an impact on the main game. However, Illuvium games require some level of stability to function well. We have come up with a solution to these requirements:
Illuvium will not fix fuel (required for all in-game interactions) to USD. Instead, pricing in-game will be a fixed amount of fuel. Since this could cause fuel prices to fluctuate significantly depending on the actions of the landholders, the DAO will automatically supply or withdraw fuel from the balancer pool if the price differs by more than 25%.
Practically, suppose the demand for fuel is higher or lower than the production. In that case, the price of actions in Illuvium can increase or decrease by up to 25%. Landholders can choose to sell when the price is high, and players can buy fuel when low.
The council can adjust the parameters of either the base price for fuel or the percentage variance allowed. They can also change the approximate percentage of revenue received by landholders.
*sILV2 will not be used to swap for fuel. Instead, sILV2 acts as an alternative to fuel pegged to the price of ILV.
Land sale timing
|Total Duration Of Sale||Three days|
|Plot Sold Per Batch||278 plots|
|Batch Release Date||1 per hour|
|Duration of Each Batch||2|
Practically, approximately 278 new plots will go on sale every hour. At this point, they will start reducing in price until someone purchases them.
There is nothing needed to do for purchase besides selecting the plot and paying the price on display.
If you wish to buy for a lower price, wait for it to drop, but remember that another person can purchase the same plot as you. Since tranches are released every hour, there may be some overlap.
One tranche will be 1 hour old (approximately 30% of the starting price), and the other will be brand new. Each batch will have roughly the same ratio of Tiers as the overall land numbers.
How many Illuvium lands will be sold?
|Total Land NFT plots||100000|
|Total plots available in the first sale||20000*|
|Tier 5 Land plots to be sold in the first sale||2|
|Tier 4 Land plots to be sold in the first sale||869|
|Tier 3 Land plots to be sold in the first sale||2088|
|Tier 2 Land plots to be sold in the first sale||5012|
|Tier 1 Land plots to be sold in the first sale||12029|
Illuvium will reserve 25 (Tier 1) plots for giveaways during the landsale event and 4 plots (1 of each Tier, excluding Tier 5) for live testing purposes and quality assurance.
Illuvium Land NFT Details
Each plot of land will have limited details available before purchase as outlined below:
|Region||There are 7 regions in total. Region affects the probability of Illuvial affinity scanned.|
|Tier||There are 5 Tiers in total. Tier affects the number of element and fuel sites and the landmarks available.|
|Location||Location is only relevant for future expansions where adjacent land may be able to be merged.|
Once purchased, the IMX will mint an NFT containing details of the land plot. We use a random seed to deterministically generate the site and landmark details that comprise the land plot.
The deterministic function that generates these details will be stored in the immutable blockchain contract and can be used to verify that applications like the Illuvium: Zero game client or the IlluviDEX web application honour the land generation function defined in the contract.
This function generates the following details:
|Element Sites||An array of Element Sites containing details of each site’s type and location.|
|Fuel Sites||An array of Fuel Sites containing details of each site’s type and location.|
|Landmark||The type of any generated Landmark. Empty for those Tiers which do not include Landmarks.|
Number of Sites and Landmarks per Tier
There are a fixed number of Sites and Landmarks per tier, but the type of these Sites and Landmarks can vary. For example, one Tier 1 site may have one of each Element Site or 3 Lakes.
Higher level Tiers have sites that are more resource rich. Accordingly each Tier above Tier 1 has a production boost which increases the amount of Fuel and Elements generated by the Sites on the Plot. The higher the Tier level the higher the production boost.
The following table defines the number of Element Sites, the number of Fuel Sites, the class of Landmark, and the Production Boost for each tier:
|Land Tier||# of Element Sites||# of Fuel Sites||Number and type of Landmark||Production Boost|
|Tier 1||3||1||None. No landmark.||0%|
|Tier 2||6||3||None. No landmark.||33.33%|
|Tier 3||9||6||1 Element landmark.||100%|
|Tier 4||12||9||1 Fuel landmark.||300%|
|Tier 5||15||12||1 Arena.||900%|
Quantities of sites are defined, meaning that all land of a particular tier will have the potential to produce just as much as any other land plot.
There will be minor differences due to:
- Variety and spread of sites
- Location of sites on the plot
- The synergy between sites and Landmark
We feel the slight randomness adds an element of excitement to the sale.
How to participate in the sale?
- Register on the official website (link)
- Be sure to have ETH in your wallet
- Familiarise yourself with the Illuvium ecosystem and different communities (Discord is recommended)
- Be on the lookout for an e-mail with the Illuvium land sale date
- Be ready!