The team behind the monster war NFT game Illuvium has closed a virtual land sales round worth approximately $72.2 million.

During Dutch auctions On June 2-5, the project sold 19,969 of the 20,000 lots offered for sale. The plots can be purchased with ETH or siLV2, an asset that pays rewards for staking the ILV governance token.

In total, sales generated 4,018 ETH and 239,388 siLV2.

A large number of players offer the opportunity to catch monsters, which are then used in battles and game resources. Property owners will also receive 5% of the income from the land.

There will be a total of 100,000 virtual lots in the game, divided into four levels based on rarity and characteristics.

Illuvium noted that there were no “gas wars” during the sale, during which fees on the Ethereum network increased due to users’ desire to get priority for a transaction.

The team explained this using a scaling solution from the Immutable blockchain initiative. According to Kieran Warwick, founder of Illuvium, Immutable X allows you to reduce transaction fees by 60%.

“Nearly all NFT sales in Ethereum result in extravagant rates that reward miners and [дорого] costs the buyer. “Gas wars should be a thing of the past,” he said.

The game is currently in beta testing and its full launch is scheduled for the third quarter of 2022. The two Tier 5 “stadium” areas used for player tournaments will be sold in separate auctions.

Recall that in November 2021, a user purchased a virtual plot of land in the NFT game Axie Infinity for 550 ETH – about $2.46 million at the time.