Upland blockchain game raises $7m ahead of token launch
The post Upland blockchain game raises $7m ahead of token launch appeared on BitcoinEthereumNews.com. Upland, a blockchain-based real estate collecting and trading game, has secured an additional $7 million in its Series A funding round. This investment is led by EOS Network Ventures and marks its first foray into the world of crypto gaming. Upland expands crypto gaming metaverse The fresh capital injection from EOS, with participation from existing investors C3 Venture Capital and Animoca Brands, is earmarked for expanding the Upland game. 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. 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. 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. The EOS advantage 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. 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. 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. Lueth cited Ethereum’s huge gas fees as a barrier that they couldn’t overcome. After careful analysis, the team concluded…
The post Upland blockchain game raises $7m ahead of token launch appeared on BitcoinEthereumNews.com.
Upland, a blockchain-based real estate collecting and trading game, has secured an additional $7 million in its Series A funding round. This investment is led by EOS Network Ventures and marks its first foray into the world of crypto gaming. Upland expands crypto gaming metaverse The fresh capital injection from EOS, with participation from existing investors C3 Venture Capital and Animoca Brands, is earmarked for expanding the Upland game. 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. 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. 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. The EOS advantage 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. 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. 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. Lueth cited Ethereum’s huge gas fees as a barrier that they couldn’t overcome. After careful analysis, the team concluded…
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