Illuvium co-founder says studio cut costs again, cash can last more than 12 months

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.