ChainCatcher reported, citing The Defiant, that Illuvium co-founder Kieran Warwick said the studio has sharply reduced costs over the past six months and the team recently agreed to another pay cut. He said the company’s balance-sheet cash could now support operations for more than 12 months. Warwick did not disclose the size of the pay cut, the number of remaining staff, or the amount of cash on hand.
He said the current team is focused almost entirely on Overworld, Illuvium’s MMO, and that most members have worked together for more than three years. Beyond the MMO, the company plans to release the Celebrations series for Illuvium Beyond, Beyond Chaos, Primal Tactica through an outside studio, and Loadout, which will allocate tokens to a staking contract.
Warwick said Primal Tactica will appear at Steam Next Fest in October, where Illuvium will receive most of the revenue. DefiLlama data shows Illuvium’s protocol fees and revenue totaled about $9,781 over the past 30 days, with treasury holdings around $2.78 million. ILV was trading at about $3.35, giving it a market cap of roughly $27.74 million.
Illuvium co-founder Kieran Warwick said the studio has spent the past six months cutting costs and that the team recently agreed to another round of pay cuts. He said the company’s balance-sheet cash can now support operations for more than 12 months.
Warwick did not disclose how much salaries were reduced, how many employees remain, or the size of the cash reserve.
He said the current team is now focused almost entirely on Overworld, Illuvium’s MMO, and that most members have worked together for more than three years.
Beyond the MMO, Illuvium plans to release several products this year: the Celebrations series for Illuvium Beyond, Beyond Chaos, Primal Tactica, which is being developed by an independent studio under license, and Loadout, which will distribute tokens to a staking contract.
Warwick said Primal Tactica will take part in Steam Next Fest in October, and Illuvium will receive most of the revenue.
DefiLlama data show that Illuvium generated about $9,781 in protocol fees and revenue over the past 30 days. The project’s treasury is about $2.78 million, while ILV was trading around $3.35, giving the token a market cap of roughly $27.74 million.
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