Upland Raises $7 Million for Token Launch

Upland, a blockchain-based real estate game, secured $7 million in a recent funding round, with EOS Network Ventures leading the way. This capital will help improve their game and expand their marketing, plus introduce a new Ethereum token.

Upland started as a property trading game inspired by Monopoly in 2019, letting players buy and sell virtual versions of real properties. Now, it’s grown to include cafes, treasure hunts, and more, with over 3 million players and 30,000 daily users.

They’ve also partnered with big sports organizations like FIFA and the NFL Players Association, expanding into regions like the United States, Latin America, and Europe. Their latest move into the Japanese market included adding Tokyo to the game.

Despite talk of the metaverse concept losing steam, Upland’s co-CEO Dirk Lueth believes it’s still vital for the future of the internet. He sees ongoing development in the metaverse space, even if some initial excitement has faded.

Dirk Lueth chairs the Open Metaverse Alliance of Web3 (OMA3), a group working on metaverse standards.

EOS is the foundation of Upland’s operations, despite it being less popular now.

It ranks 23rd in total value locked (TVL) at $69 million on DefiLlama and 60th in total market capitalization among cryptocurrencies according to CoinGecko.

Lueth defends their choice of EOS, citing its practicality when Upland was founded in 2018. He explains that EOS allows Upland to create NFTs quickly. EOS Network Ventures’ recent investment shows ongoing support.

The Series A extension included EOS Network Ventures and existing investors like Animoca Brands and C3 Venture Capital. Funds raised will help Upland make its in-game Spark token tradable on Ethereum, increasing their visibility in the cryptocurrency market.

Lueth believes gaming will play a crucial role in widespread adoption of blockchain and cryptocurrency, though it won’t happen overnight. Upland’s journey reflects the evolving landscape of digital assets and the growing interest in location-based gaming experiences.

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