Illuvium and Polemos: Revolutionizing Crypto Gaming Loans
Polemos has partnered with Illuvium, a gaming protocol, to introduce its lending solution called Armory. Illuvium is an open-world fantasy battle game built on the Ethereum blockchain and Immutable. Armory, developed by Polemos and Guardian Labs, allows players to rent digital assets without requiring collateral or deposits.
The Armory sets itself apart from traditional gaming platforms by giving borrowers access to the actual in-game NFTs during the rental period. This provides an authentic gaming experience for players while offering asset protection for lenders. The partnership between Illuvium and Polemos aims to provide full loan and staking functionalities for game assets, creating a transparent and secure lending environment.
Illuvium: NFT Renting with Armory
With the introduction of Armory in Illuvium’s crypto games, players now have the opportunity for low-cost borrowing, allowing them to experience high-value assets within the game without fully owning them. The CEO of Polemos, Richard McLaren, believes that this partnership will be a milestone in proprietary gaming, as it crystallizes the functionalities of an advanced secondary lending market.
Armory is chain-agnostic and can operate on different blockchains. It already supports Polygon games and will support games on Immutable, IMX, and zkEVM through the development agreement. Polemos plans to integrate with other chains such as Solana, BNB, Arbitrum, Avalanche, and TON in the future.
The Price of ILV
The native token of Illuvium, ILV, is currently valued at $98.14 with a total market cap of over $369 million. It ranks 124th in the crypto ranking. The price of ILV has experienced significant growth, reaching an annual high of $116 on November 27. This may be attributed to the listing of the crypto game on the PC game platform of Epic Games Store. However, the AAA game Illuvium:Zero, launched in January 2023, did not have a significant impact on ILV’s price.
Hot Take: Illuvium and Polemos Revolutionize Crypto Gaming Loans
The partnership between Illuvium and Polemos marks a significant development in the crypto gaming industry. By introducing Armory, players can now rent high-value NFTs within Illuvium’s games without needing collateral or deposits. This innovative approach offers an immersive gaming experience while ensuring asset protection for lenders. The integration of Armory with different blockchains further expands its accessibility to a wider range of players. With ILV experiencing substantial growth in value, the future looks promising for Illuvium and its vision to revolutionize the world of blockchain gaming.
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