Illuvium land CoOperative is live!
Time to start fundraising, contributions from FractionalHub members will be Open Until June 1st.
Our FractionalHub Members are invited to join us on our next big CoOperative adventure!
Illuvium land is one of the hottest upcoming play to earn games to ever hit the Blockchain scene. The combination of gaming, and decentralised finance with the inherent property rights enabled by NFTs, puts Illuvium up there as one of the most interesting and opportunity-rich gaming projects out there.
Together we will pool capital in order to purchase at least one tier 3 land in the upcoming dutch auction.
Allocation per CoOperative member will be 0.55ETH per share.
Members can contribute to the Illuvium land raise by connecting the wallet which holds a FractionalHub membership to our website fractionalhub.io
Upon Contributing you will receive an Illuvium-land CoOp share credit.
These credits represent your rights to 1 of 2 outcomes depending on the outcome of the Illuvium land sale.
1 - We are successful and mint Illuvium land, our fund is then created, shares will be minted from the FractionalHub deployer contract and airdropped only to those contributors at a rate of 100 Illuvium land CoOp shares per 1 credit.
2 - In the unlikely event we are unsuccessful in the purchase of Illuvium land, each person who contributed will receive their refund.
In any case, after you contribute, you don’t have to do anything, you’ll either get airdropped shares in the fund or your ETH back in a manual refund…
Dutch auction mechanism, something different!
The Illuvium land sale starts on June 2nd and runs for 3 days.
The total amount of land to be distributed in this first phase is 20,000 land plots.
- All 20,000 lands will be released for sale in batches every 60 minutes.
- The sale will take place on the IlluviumDex
- The price of the land will decrease every 1 minute by 2.5%.
- After 30 minutes into each sale batch, the price of those lands will be over 50% discounted.
- As a CoOperative our goal is to go after tier 3 land in hopes of a 50% or more discount.
- Every hour, for 3 days, Approx. 30 Tier 3 lands are released — this will give us a solid window to watch and strike a good piece of land for a good price.
For further details around the tokenomics of the CoOperative see our previous Blog post
https://medium.com/coinmonks/illuvium-land-cooperative-bcc044f9d20d
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