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NFT-based game Illuvium raises $72 million in digital land sales

Illuvium, a monster-battle roleplaying game that incorporates non-fungible tokens (NFTs), announced Sunday that it raised over $72 million in digital land sales.  The land sale occurred between June 2 and June 5, 2022. Of the 20,000 plots of land available, 19,969 were sold, with the remaining 31 plots of land to be held for future giveaways.  Illuvium also notes that there were no gas wars during the land sale, which is when Ethereum gas prices increase due to heightened demand …

WAX blockchain raises $10 million in push for GameFi and NFT market

The Worldwide Asset eXchange (WAX), a blockchain for non-fungible tokens (NFTs), videogames, and collectibles, announced on Thursday that it has raised $10 million in funding from OKX Blockdream Ventures, the investment arm of cryptocurrency exchange OKX. According to a press release, the investment is in WAX Studios, the team behind WAX. It will be used to develop non-fungible NFTs in play-to-earn (P2E) games, build out an exchange for gaming tokens and upgrade the WAX Cloud Wallet, which can be used …

Kongregate and Immutable launch $40 million fund for blockchain games

Game developer Kongregate and Ethereum scaling startup Immutable announced a $40 million fund to develop blockchain-based games.  Launched in 2006, Kongregate’s website Kongregate.com became a home for free-to-play independent web games. With this new fund, comprised of the IMX token pool, Kongregate.com will begin incorporating blockchain-based games later in 2022 and ultimately rebranding to a web3-oriented gaming site. Kongregate.com’s blockchain-based rebrand also includes tools for blockchain-based game developers, such as through tokenomic consultations. “With the relaunch of Kongregate.com for web3, …