Blockchain gaming is witnessing a significant milestone with Upland, a game focused on real estate collecting and trading, securing an additional $7 million in Series A funding. This noteworthy development, led by EOS Network Ventures, marks the venture into the realm of crypto gaming for this blockchain project. Noteworthy existing investors, C3 Venture Capital, and Animoca Brands, are also joining forces to support Upland's distinctive gaming metaverse.
About Upland Upland stands out as a blockchain-based game where players can buy and sell digital renditions of real-world properties on a virtual map, akin to a fusion of Monopoly and blockchain technology. With its captivating gameplay and promising future, Upland has garnered attention from both players and investors.
Game Expansion The recent $7 million investment, spearheaded by EOS Network Ventures, aims to broaden Upland's horizons. Following the initial $18 million Series A round in 2021, this funding is indicative of the growing interest in blockchain gaming. Upland plans to enhance gameplay, expand its marketing initiatives, and provide tools for external developers to introduce new features and extensions.
Funding Dynamics An interesting facet of this funding round is Upland's intention to introduce an Ethereum token named "Sparklet," linked to its in-game utility token. This strategic move could have significant implications for Upland's standing in the broader crypto market, presenting exciting opportunities for both players and investors.
The EOS Advantage Upland's selection of the EOS network might raise eyebrows, given EOS's waning popularity in the crypto sphere. However, Upland CEO Dirk Lueth explained that when Upland was established in 2018, EOS was a pragmatic choice for their vision. EOS's technical capabilities empower Upland to mint an impressive 80 NFTs per second, significantly enhancing the game's performance.
EOS Network Ventures' participation in this funding round signals ongoing confidence in Upland's vision and capabilities, suggesting untapped potential within the EOS ecosystem.
Enhancing Gaming Experience Expanding Upland's utility token, Spark, onto the Ethereum blockchain as Sparklet aims to elevate the game's visibility in the broader market. This decision aligns with a positive court ruling for Ripple, complementing Upland's strategic direction. Notably, Upland has refrained from selling its token to investors or the team, positioning the project favorably amidst regulatory challenges.
Diversification Strategy In a strategic diversification move, Upland has collaborated with the NFL Players Association (NFLPA), introducing new NFLPA Bundle types. This partnership promises engaging gamified digital collectibles of NFL players and community activities, delivering a distinctive experience for gamers.
