Illuvium’s first NFT land sale is coming soon on June 2nd. In this round, a total of 20,000 plots of land are up for grabs. Those who own a piece of land can earn passive income and get to play in Illuvium: Zero, an upcoming mobile game by Illuvium. Here’s the scoop on all you need to know about this upcoming land sale.
What do you need to know about the Illuvium land sale?
To begin with, the Illuvium NFT land sale will take place on IlluviDex, starting from June 2nd at 13:00 UTC until June 5th at 13:00 UTC. For this round of sale, 20,000 plots (out of 100,000 plots) will be up for grabs. There are 5 tiers of land to choose from. And anyone can buy these lands either using ETH or sILV2.
What’s more, the Illuvium land sale will take place in a different auction format depending on land tiers. To illustrate, Tier 1-4 land plots are sold via Dutch Auction. The bidding will start at a specific starting price (see table below) and reduces by 2.5% per minute for 2 hours or until the plot is sold.
As for Tier 5 plots, Illuvium will carry out the land sale in an English Auction format. This works the opposite way to a Dutch Auction. Instead of waiting for the price to come down, bidders will push the price upwards until the bidding time is over. For this type of auction, the team will only accept bidding in ETH.
Anyway, to reduce gas spending, the Illuvium land sale is going to take place in batches. How so? For every hour, approximately 278 new plots will go on sale for 2 hours. And each batch will come with roughly the same ratio of land tiers throughout the 3-day sale. Thus, there’s no need to worry about missing out on top-tier lands when you mint at a later time.
Things to take note of during the land sale
One thing for sure is that you will need to connect your MetaMask wallet to IlluviDex on the day of the Illuvium land sale. Do not use any mobile devices, as IlluviDex does not support any mobile purchases for now.
Take note that all land purchases will take place on Ethereum L1. Thus, a standard gas fee in ETH will apply. So make sure you have enough ETH in your wallet to cover the gas on that day. After purchase, the land NFT minting will take place on IMX layer 2 with zero gas fee.
What are the perks of holding a land?
Forming the foundation of Illuvium: Zero, each NFT land will generate Fuel, an ERC-20 token that players can sell for ETH later. Approx. 5% of all in-game Fuel revenue will go to landowners as a form of passive income. However, depending on the land tier, some lands might have landmarks that help generate more rewards for landowners.
For instance, a Tier 3 land will have Elements that are useful to construct structures. Next, a Tier 4 land will have a 300% boost in Fuel production. While a Tier 5 land will have Arenas for owners to earn additional income streams from tournaments and sponsorships. So, make sure you take your ideal pick during the land sale.
To know more about how P2E works in this fantasy open-world RPG, you can refer to our extensive guide on Illuvium.