Illuvium, a popular Ethereum gaming franchise, recently underwent a significant company restructuring that has resulted in layoffs and core contributors taking pay cuts or receiving their wages in the gaming IP’s own token. This restructuring comes after the release of three interconnected games – Overworld, Arena, and Zero – last year, which received mixed reactions from the community despite years of development.
In a statement, co-founder Kieran Warwick acknowledged concerns about the gameplay and announced cost-cutting measures, including capping wages at $85,000. However, further cuts were necessary to bring the monthly burn rate closer to $500,000. Warwick expressed gratitude to those affected by the changes, noting that some employees generously offered to take pay cuts, while others opted to receive their salary in the project’s ILV token.
The downsizing has reduced the core contributor team to 66 members, down from between 100 to 150. This move was difficult for many team members, with hopes of bringing them back in the future. As a result of the restructuring and other cost-cutting measures, Illuvium has achieved its goal of a 24-month runway with a reduced burn rate from $900,000 in December.
Warwick revealed that Illuvium no longer plans to seek fresh funding in March as initially planned. Instead, the focus is on completing the auto-battler game, reworking Overworld into a streamlined MMO, and reducing in-game microtransactions. This restructuring is seen as the first step in rebuilding the franchise, with upcoming updates including auto drone runs, multiplayer servers, and reactivated leaderboards.
“This is step one in the rebuild. Now we have the runway, and it will continue to be extended,” Warwick stated. Despite facing challenges akin to a losing football team, Warwick expressed confidence in turning things around. The Illuvium community can expect significant updates in the near future to enhance their gaming experience.
In conclusion, the Illuvium franchise is undergoing a transformation to streamline operations, reduce costs, and focus on delivering high-quality gaming experiences to its community. The restructuring marks a new chapter for Illuvium as they strive to overcome challenges and emerge stronger in the gaming industry.
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