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Illuvium Team Reduces Wages to Extend Operational Runway
Illuvium's team has agreed to reduce wages to extend the studio's operational runway beyond 12 months, focusing on its Overworld MMO project amid industry challenges.
AS1 NewsSource: thedefiant.io
ETHThe team behind Illuvium, a prominent Ethereum-based game studio, has decided to implement wage reductions to preserve its financial stability. Co-founder Kieran Warwick announced that this move extends the company's runway to more than 12 months, with projections suggesting it could last until August 2027. This strategic decision comes at a time when many crypto gaming studios are facing closures due to market pressures.
The wage cuts are part of Illuvium's broader effort to focus resources on its core project, the Overworld MMO, which remains a priority for the studio. Warwick emphasized that the measures are necessary to ensure the studio's longevity and continued development in a challenging industry environment.
Despite the financial adjustments, Illuvium continues to operate and develop its blockchain-based game, aiming to capitalize on the growing interest in crypto gaming and metaverse experiences. The studio's approach reflects a cautious but committed stance amid broader industry uncertainties.
The wage reduction strategy aims to extend Illuvium's operational stability, allowing continued development of its blockchain game amidst industry challenges.