Illuvium says six months of cuts bought it another year as MMO becomes its main remaining bet

Illuvium co-founder and CEO Kieran Warwick said Aug. 21 that six months of cost reductions and a further wage cut had restored more than 12 months of operating runway for the web3 gaming studio.Warwick said the remaining workforce is now almost entirely focused on an MMO and that most team members have been with Illuvium for more than three years. He did not disclose the studio's current cash balance or monthly burn.Illuvium last published a monthly burn figure in December 2024, putting the cost at about $900,000 after its administrators stopped taking salaries and cut overall wages by another $85,000. It also said then that it expected to seek additional capital around March 2025, but Warwick did not say whether new financing contributed to the latest runway calculation.The new estimate prompted a social media claim that Illuvium had raised $132 million. Capital Brief reported about $60 million in cumulative funding in 2024, while an Immutable release reported $72 million in gross NFT land sales in 2022. Adding customer land-sale proceeds to reported funding conflates two different categories.Illuvium's recent governance disclosures do not provide a current financial breakdown. Ju...