Illuvium co-founder and CEO Kieran Warwick announced on Aug. 21 that a series of cost-cutting measures—including significant wage reductions—have extended the web3 gaming studio’s operational runway by over 12 months.
With these financial adjustments in place, Warwick noted that the remaining team is now almost entirely dedicated to the development of the studio’s upcoming MMO title. Most employees have remained with the company for over three years, despite not disclosing current cash reserves or monthly expenditure rates.
The last publicly available burn rate was reported in December 2024, showing expenses of approximately $900,000 per month after administrative salaries were suspended and overall compensation was cut by an additional $85,000. At that time, the company also indicated plans to pursue further funding around March 2025; however, Warwick did not confirm whether recent investments have been factored into the updated runway projections.
This ambiguity led to speculation on social media regarding a claimed $132 million capital raise. Industry trackers like Capital Brief estimate cumulative funding at roughly $60 million throughout 2024, while Immutable cited $72 million in gross NFT land sales back in 2022. Mixing user-generated land sale revenues with formal investment figures does not accurately reflect traditional financing metrics.
Recent governance updates from Illuvium lack detailed financial transparency. Minutes from a July council meeting placed budgetary discussions—including staffing changes, treasury management, and token distribution—for under nondisclosure agreements.
The MMO Takes Center Stage
According to official council records from February, the team has scaled down the MMO’s scope to target a December 2026 launch window. Key design elements such as asset reuse, procedural dungeons, and scheduled boss encounters remain core components. Player-versus-player mechanics and enhanced combat systems are planned for post-launch development cycles.
In addition to the MMO, Warwick revealed intentions to roll out multiple smaller-scale titles during 2026. These include a final *Celebrations* collection for *Beyond Set 1*, along with *Beyond Chaos*, *Primal Tactica*, and *Loadout*.
An external studio licensed to develop *Primal Tactica* under Illuvium’s intellectual property will showcase the game at Steam Next Fest in October, with revenue-sharing terms favoring Illuvium significantly. The platform currently lists *Primal Tactica* for early access release in Q4.
Meanwhile, *Loadout* is expected to distribute tokens directly to the Illuvium staking contract to promote ILV and ILV-ETH staking activity. No official launch date has been set for this initiative. As of Aug. 21, the value of ILV had declined by 67.55% year-over-year, according to CryptoSlate market data.