The hyped cryptocurrency game, Upland has announced a $7 million raise in its Series A funding round. The platform is referred to as the super app of the Web3 and metaverse.
Quick Take:
- Upland announced a $7 million funding raise, directed towards AI and metaverse.
- The crypto game will launch its utility token on Ethereum to make it tradable.
- It will focus on enhancing its marketing strategy as per interest from different geographic locations.
- Upland CEO remains unfazed by the dying hype around the metaverse.
Upland was able to onboard a new investor, EOS Network Ventures. Thus, bringing the total funding of the company to $25 million. It has gained a lot of hype lately due to its unique features. The platform is enjoying the growth of virtual property ownership.
Moreover, with a high user engagement, the app has crossed 3 million registered accounts on the EOS blockchain. Also, it has over 300,000 virtual property owners and a range of different features. The company is consistently striving to incorporate more features into its model.
The newly announced $7 million funding is an extension of the company’s initial $18 million Series A raise in 2021. In addition, these funds will be used to innovate the roadmap of Upland, increasing its AI use, and constructing a digital open economy.
Upland is a location-based game and it allows players to buy digital properties on a real-world map. With the new funding, the platform is looking to invest more in its marketing strategy, so it can reach a wider audience. It will also look to enable third-party developers on the platform.
Upland Will Launch an Ethereum-Tied Token
Upland is expected to launch its in-game utility token tied to Ethereum. As a result, the crypto game’s utility token, Spark will become tradeable outside the platform. It will be launched through a Token Tradability Event, and be available on a number of exchanges in the market.
Back in 2019. Upland was launched as a property trading game. Moreover, the game was inspired by Monopoly, as users could buy and sell digital properties on it. These users can now enjoy cafes, vehicles, and even treasure hunts on the platform which is also set to host fashion weeks in the coming days.
With over 30,000 daily active users, Upland is already a big deal in the metaverse. By connecting with big names like FIFA and NFL, the game is gaining more attraction from the user base. In addition, it is driving its main audience from the US, Europe, and Latin America. The marketing strategy of the platform varies according to the local interest.
The Faded Hype of the Metaverse
Upland is breathing life into the dried-out metaverse industry. It is planning to create an immersive web experience connected to the real world through its metaverse. Moreover, it offers a collective chance for players, creators, and entrepreneurs to exercise their true potential in the metaverse.
The Co-Founder and Co-CEO of Upland, Dirk Leuth believes that the metaverse is far from being dead. Thus, the fading buzz around the metaverse is not concerning Leuth. He believes in the growth and expansion of the sector and wants his platform to become a force to reckon with. Furthermore, the launch of the tradeable Spark token on Ethereum will be a big feat for the company. The plan and the white paper are approved by 87% of the platform’s community, per Upland’s website.
