Ethereum

Axie Infinity

Upland

<p class="is-style-lead">Upland, a blockchain-based real estate collecting and trading game, has secured an additional $7 million in its Series A funding round. </p> 
<p class="is-style-default">This investment is led by <a href="https://crypto.news/eos-network-foundation-urges-community-to-reject-22-million-settlement-offer/">EOS</a> Network Ventures and marks its first foray into the world of <a href="https://crypto.news/blockchain-capital-secures-580m-funding-for-defi-and-crypto-gaming-ventures/">crypto gaming</a>.&nbsp;</p> 
<h2 class="wp-block-heading" id="upland-expands-crypto-gaming-metaverse">Upland expands crypto gaming metaverse</h2> 
<p>The fresh capital injection from EOS, with participation from existing investors C3 Venture Capital and Animoca Brands, is earmarked for expanding the <a href="https://www.upland.me/" target="_blank" rel="noopener">Upland</a> game.&nbsp;</p> 
<p>Upland’s standout feature is enabling players to purchase and sell digital versions of real-world properties on a virtual map. The funding extension comes on the heels of the initial $18 million Series A round, which took place in 2021.</p> 
<p>In addition to enriching gameplay, Upland has set its sights on bolstering its marketing strategy. This step aims to increase the game’s exposure and draw in a larger player base. Additionally, Upland plans to offer tools for external developers, opening the door to new features and extensions.&nbsp;</p> 
<p>An especially fascinating upcoming development is Upland’s intention to introduce an Ethereum token linked to its current in-game utility token. This initiative, known as “Sparklet,” could have far-reaching implications for Upland’s presence in the broader crypto market.</p> 
<h2 class="wp-block-heading" id="the-eos-advantage">The EOS advantage</h2> 
<p>Upland’s choice to build its platform on the EOS network may seem unconventional, given the platform’s waning popularity. EOS currently ranks 23rd in total value locked (TVL), according to DefiLlama, with a TVL of $69 million.&nbsp;</p> 
<p>It’s also ranked 60th in total market capitalization among cryptocurrencies on CoinGecko and has been on a multi-year downtrend since its all-time high.</p> 
<p>Upland CEO Dirk Lueth defended this choice. In 2018, when Upland was founded, EOS was one of the few viable blockchains for such a project, he explained.</p> 
<p>Lueth cited Ethereum’s huge gas fees as a barrier that they couldn’t overcome. After careful analysis, the team concluded that EOS was the optimal blockchain for their needs. Notably, Upland now boasts a remarkable capability, minting 80 NFTs per second, thanks to EOS’s technical features.</p> 
<p>EOS Network Ventures’ involvement in Upland’s Series A extension suggests that backers still see potential in growing the ecosystem. This move demonstrates their confidence in Upland’s vision and technical capabilities.</p> 
<h2 class="wp-block-heading" id="a-better-gaming-experience">A better gaming experience</h2> 
<p>The recent funding round will not only enhance Upland’s in-game experience but also drive the expansion of its utility token, Spark, onto the Ethereum blockchain as Sparklet. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Upland Co-Founder &amp; Co-CEO <a href="https://twitter.com/DirkLueth?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@DirkLueth</a> on Sparklet: This means higher visibility &amp; more credibility for Upland, which contributes to a positive ripple effect in the web3 community, &amp; also improved liquidity for current Spark holders.<br><br>Read the full release: <a href="https://t.co/UZSUVBprSK" target="_blank">https://t.co/UZSUVBprSK</a></p>— Upland (@UplandMe) <a href="https://twitter.com/UplandMe/status/1715148072458543538?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 19, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This decision is strategically aimed at increasing Upland’s visibility in the broader market. It opens up opportunities for more users to engage with Upland’s unique ecosystem.</p> 
<p>A noteworthy factor influencing this decision was Ripple’s favorable court ruling, which had a positive impact on Upland’s approach. Additionally, the fact that Upland has never sold its token to investors or the team could help the project navigate regulatory challenges that other crypto startups have faced.</p> 
<p>In a bid to further diversify and expand, Upland has <a href="https://crypto.news/upland-teams-up-with-nflpa-to-enhance-nfl-metaverse-experience/">partnered</a> with the NFL Players Association (NFLPA). This collaboration introduces new NFLPA Bundle types, including the Mixed Essentials Bundle, Team Essentials Bundle, and Pass Bundles. </p> 
<p>The 2023-2024 Upland experience promises gamified digital collectibles of NFL players, community activities, and community-created shops celebrating previous seasons, all in partnership with the NFLPA.</p> 
<p> You might also like: <a href="https://crypto.news/upland-launches-fifa-womens-world-cup-experience-in-metaverse/"> Upland launches FIFA Women’s World Cup experience in metaverse </a> </p> 
<h2 class="wp-block-heading" id="the-bigger-picture-in-blockchain-gaming">The bigger picture in blockchain gaming</h2> 
<p><a href="https://crypto.news/sega-double-jump-tokyo-execs-blockchain-gaming/">SEGA’s</a> co-COO Shuji Utsumi and Double Jump Tokyo CEO Hironobu Ueno see a future where blockchain technology becomes prevalent in the gaming industry. They recognize the potential for blockchain to revolutionize gameplay, as demonstrated by the integration of non-fungible tokens (<a href="https://crypto.news/nft-giants-are-protesting-blur-and-opensea-over-royalty-rates/">NFTs</a>) into the highly anticipated game, “Battle of Three Kingdoms.”</p> 
<p>Another perspective from <a href="https://crypto.news/the-rise-of-blockchain-gaming-in-asia-has-just-begun-opinion/">Takuya Tsuji</a>, the founder of Eureka Entertainment Ltd, highlights Asia’s growing role in the adoption of web3 games and blockchain technology. </p> 
<p>With popular blockchain games like <a href="https://crypto.news/analysts-pick-tradecurve-markets-stellar-and-axie-infinity-ahead-of-bull-run/">Axie Infinity</a> in Southeast Asia and STEPN gaining dedicated users in Japan, Asia’s gaming market is on the rise. DappRadar’s report underscores this trend, showing that a significant percentage of gamers in Japan are aware of blockchain gaming and have a positive impression of it.</p> 
<p> Read more: <a href="https://crypto.news/immutable-taps-amazon-to-boost-web3-gaming-adoption/"> Immutable taps Amazon to boost web3 gaming adoption </a> </p>

Upland blockchain gaming project raises $7m ahead of ERC-20 token launch

Table of Contents

crypto.news

Other articles published on Oct 21, 2023

Bitcoin Price Analysis: Will the Rally Continue?

Why Crypto-Friendly Dubai Gains 25,000 Business Licenses, 60% Rise Compared to the Previous Year

Can C3.ai Stock Crash To The $20 Mark with Bears Still Dominating?

Fed highlights effects of geopolitical tensions on global economy

CoinDCX Unveils Unified Integrated App at Unfold 2023

Crypto Advocate Rep. Tom Emmer Gains Backing for Speaker Bid

Join our free newsletter for daily crypto updates!