#ILV
What is the ILV token?
ILV is a token associated with the NFT and blockchain-based game Illuvium, used for governance, rewards, and in-game purchases.
Illuvium is an electronic game based on blockchain technology, integrated with a "play-to-earn" style, relying on collecting NFT creatures called Illuvials, used in battles and exploring various environments within the game's virtual world. It operates on the Ethereum network and uses Immutable X to facilitate gas-free transactions.
The ILV token is used for multiple purposes within the platform:
Participating in governance through DAO.
Staking for returns from game revenue.
Buying in-game items, such as NFTs, or as sILV (a virtual version used instantly within the game).
Price performance and current state
The current price is trading around an average of $17.6–$17.7.
The currency peaked in March 2024 at about $163, but has seen a sharp decline since then.
Is speculating on ILV worthwhile today?
Price volatility makes it suitable for risk-takers seeking short-term profits.
There are conflicting technical signals: some analyses indicate a bearish trend, thanks to the weekly MACD indicator, for example.
From a fundamental perspective, the presence of multiple uses for the token within the game's ecosystem could support its value in the medium to long term.