News and Analytics

Upland Crypto Game Raises $7 Million Prior to Ethereum Token Rollout
0

Upland Crypto Game Raises $7 Million Prior to Ethereum Token Rollout

Oct 22, 2023

Upland, the blockchain-based property trading and collection game, recently declared a $7 million extension to its Series A funding on Friday. This round of funding was spearheaded by EOS Network Ventures, marking their inaugural investment in the crypto gaming sector. This follows Upland's initial raise of $18 million for their Series A in 2021.

The fresh capital will be channeled into enhancing the game's features, which allow players to buy digital plots on an actual-world map. In addition, Upland aims to ramp up its marketing efforts, offer tools for third-party developers, and introduce an Ethereum token that aligns with its existing in-game utility token.

The metaverse is far from being dead.Upland Co-CEO and co-founder Dirk Lueth told Decrypt in advance of the announcement

Upland, inspired by Monopoly, began in 2019 as a digital real estate game, adding features like cafes and treasure hunts over time. With 3 million players and 30,000 daily users, Upland partners with entities like FIFA and expands across the US, Latin America, and Europe. A partnership with the NFT project ON1 Force led to the inclusion of Tokyo in Upland's game map.

Despite waning "metaverse" interest, Upland, on the EOS platform, remains committed to growth. Leuth sees the immersive web as the future. Leuth points to the OMA3 alliance, which includes Upland and companies like Animoca Brands, as a sign of continued metaverse innovation. Chosen for its efficiency over Ethereum, Upland mints 80 NFTs per second on EOS.

Series A funding will help make Upland's Spark token tradable on Ethereum as "Sparklet," with Ripple's court ruling influencing the decision. Leuth emphasizes Upland's integrity, not selling tokens to investors, and envisions a long-term approach for the crypto sector.

Comments

Latest analytics

Tranglo's Impact...

Tranglo's Impact on the Use of Cryptocurrencies in Cross-Border...

Roman Storm and...

Roman Storm and his contribution to Tornado Cash development

Show more

Latest Dapp Articles

Show more

You may also like