{"id":21373,"date":"2022-06-29T20:16:23","date_gmt":"2022-06-29T20:16:23","guid":{"rendered":"http:\/\/egrowonline.com\/?p=21373"},"modified":"2022-06-29T20:16:23","modified_gmt":"2022-06-29T20:16:23","slug":"kieran-warwicks-2032-plan-for-illuvium-cointelegraph-magazine","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=21373","title":{"rendered":"Kieran Warwick\u2019s 2032 plan for Illuvium \u2013 Cointelegraph Magazine"},"content":{"rendered":"


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Kieran Warwick created the play-to-earn game Illuvium with his brothers Aaron and Grant \u2014 all siblings of DeFi maverick Kain, the founder of Synthetix. <\/b>He shares his alpha on how NFT game mechanics can be designed in such a way that playing them can be fun and profitable in the long term.<\/p>\n

Warwick entered the retail world right out of high school, eventually becoming an online shopping entrepreneur. He got his start in the crypto world at brother Kain\u2019s company BlueShyft, which first made Bitcoin and crypto exchange payments available over-the-counter at more than one thousand physical retailers around Australia in 2015.<\/span><\/p>\n

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\"Kieran
Kieran Warwick is riding Illuvium until 2032.<\/em><\/figcaption><\/figure>\n

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Years later, with a number of business projects under his belt, Kain encouraged him to reenter the space, which led to the creation of Illuvium, a Pokemon-like play-to-earn NFT game. Unlike contemporaries such as Axie Infinity, which experienced dramatic in-game inflation, Warwick believes Illuvium will have a decade of staying power. In June 2022, the game brought in $72 million through the sale of 20,000 plots of NFT land<\/a>, laying the literal groundwork for what Warwick envisions as a longstanding playing field.<\/span><\/p>\n

Designing deflation
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He explains the setup of Illuvium. When players first arrive or \u201ccrash\u201d onto the planet, they find out that \u201cthere\u2019s this society that\u2019s been built, and it\u2019s your job to be a hunter and to go out and catch creatures known as Illuvials.\u201d<\/span><\/p>\n

Like Pokemon cards, these Illuvials, which live in certain regions of the map, are limited edition. And much like the original 1999 Charizard or Pikachu cards, Genesis Illuvials are no longer available. Whenever a new set of Illuvials becomes available, they get progressively more difficult to find and capture based on a bonding curve comparable to the one that governs Bitcoin\u2019s halvings and makes Bitcoins progressively rarer and more difficult to \u201ccapture\u201d by way of mining. \u201cThat\u2019s what makes them valuable,\u201d Warwick notes.<\/span><\/p>\n

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\"Illuvium\"
Artwork from Illuvium. Source: Twitter<\/em><\/figcaption><\/figure>\n

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In addition to being limited in \u201cmintage\u201d and increasingly difficult to \u201cmine,\u201d Illuvials are deflationary due to a game mechanic termed \u201cFusing,\u201d which consists of destroying lower-level characters to create higher levels.<\/span><\/p>\n

Three level-one Illuvials can fuse into a single level-two version, whereas summoning a level-three Illuvial requires a sacrifice of three level-twos, equivalent to nine basic creatures that are forever removed from circulation.<\/span><\/p>\n

Warwick is quick to note that the capped and deflationary nature of his Illuvial game pieces makes Illuvium the polar opposite of Axie Infinity, whose native Axie characters are created through a mechanism called breeding that produces an ever-inflating pool of characters within the game universe. <\/span><\/p>\n

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A single Axie cost hundreds of dollars in mid-2021 \u2014 to the extent that individual gamers often rented them from owners and split their earnings but have now crashed in value to almost nothing. This price plunge can be explained by the runaway breeding of more Axies, which also caused possible earnings per Axie to fall.<\/span><\/p>\n

Warwick is not surprised by the downfall of Axie Infinity\u2019s game economy. \u201cI\u2019ve been calling this for 18 months now,\u201d he says, explaining that he believes the game was doomed from the beginning, as its economics were unsustainable. The model attracted many players who worked full-time to extract value from the game, while few added any, he asserts.<\/span><\/p>\n

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\u201cMany people are finding that these games are smoke and mirrors. We are not that \u2014 we are here for 10 years at the least.\u201d<\/span>\u00a0<\/span><\/p>\n<\/blockquote>\n

Retail<\/h4>\n

Having held an interest in business from a young age, Warwick, now 32, reasoned that he wanted to start earning money right out of high school in 2007 and decided to skip college in favor of Australian retailer Harvey Norman, where he eventually became a franchisee responsible for running a store.<\/span><\/p>\n

After leaving in 2012, he founded Audio Invasion, a competing online retailer for music and computing goods with his brother Kain and a mutual friend who\u2019d recently begun mining Bitcoin as a hobby. Around this same time, he dabbled in a business selling online tutorials.<\/span><\/p>\n

\u201cThat was the first I heard of Bitcoins \u2014 he had hundreds of BTC,\u201d Warwick recalls, adding that the friend who introduced him to Bitcoin had tragically passed away in a biking accident, taking his private keys to the grave with him, like so many other early adopters who met untimely deaths.<\/span><\/p>\n

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