Upland has raised $7 million in funding for a virtual land metaverse based on Web3 technology.
Based in Palo Alto, California highlands got an early start by launching its virtual real estate game in June 2019. To date he has raised $25 million and the company has evolved beyond buying and selling his Web3 real estate in a virtual version of the real world.
The company now calls Upland a Metaverse Super App and says it is a leader in the blockchain gaming industry. EOS Network Ventures joined the round as a new investor, along with existing investors C3 Venture Capital, Animoca Brands, and angel investors.
The new capital injection will enable Upland to accelerate its mission to build the world’s largest digital open economy. With over 3 million registered accounts and nearly 300,000 virtual property owners on the EOS blockchain, Upland has emerged as one of the most widely used Web3 apps.
The Series A enhancement also paves the way for Upland’s utility token, Spark, to be traded on Ethereum outside of the Upland platform through token trading events. This move is intended to strengthen Spark’s liquidity and accessibility and further drive value creation within the Upland ecosystem.
Upland has experienced significant growth and engagement from the community over the past year with a surge in virtual property owners and successful new feature releases. Notable additions include a car racing app, in-game racing features, third-party developer platforms, and partnerships with big-name brands like the NFLPA, FIFA, and the Stock His Car Pro series.
The platform’s expansion into international cities such as London, Tokyo, and Berlin has also contributed to its growing user base.
“We welcome EOS Network Ventures as a new investor in Upland,” Upland co-CEO Dirk Lueth said in a statement. Yves and his team have been very supportive so far and we look forward to collaborating further in the future. This investment, along with continued support from existing investors, demonstrates strong confidence in our vision to build the largest digital open economy. ”
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“Upland’s ability to deliver a compelling Web2 experience that seamlessly abstracts the complexity of blockchain technology and delivers the benefits of true asset ownership is perfectly aligned with our vision for the future of the gaming industry. ” said Yves La Rose, Director of EOS Network Ventures. , in a statement. “He is pleased to announce Upland as the first investment in his GameFi fund at ENV.”
Upland’s real-world mapped mobile platform for the Metaverse offers players and creators a wide range of activities, including virtual asset trading, world building, collecting, and engaging competitions like car racing.
The platform empowers entrepreneurs by allowing them to run their own stores and leverages Upland’s native currency, UPX, and Spark, a utility token that drives value creation within the community. The aim is to contribute to the prosperity of the digital economy.
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