Monopoly-Styled EOS Blockchain-Based Digital Property-Trading Game Uplandme Raises $2 Million
Monopoly-Styled Blockchain Game Raises $2 Million
Upland, a blockchain-based property game inspired by Monopoly, was able to convince investors to give $2 million USD in order to fund the project. FinLab EOS VC Fund was the lead investor of the round, which gave the combined amount of money to Uplandme, the company that is creating the new game.
According to the company, the funds will be used in order to develop the product and launch it. At the moment, the game is in beta testing phase and it is expected to be launched until the end of 2019.
The idea of the game, which was described by its creators as “Monopoly meets blockchain”, you can buy and sell digital properties that will be based on real-world addresses. Now, instead of using paper cards like in Monopoly, you will be able to hold non-fungible tokens (NFTs).
If you thought about CryptoKitties, you are spot on. The popular cat-based game used the same system in which tokens represent your kittens. Just like in CryptoKitties, the players will really own the digital property, not the company, they will be able to hold their tokens forever.
According to Dirk Lueth, one of the co-founders of the game, the developers hope that the game will get a big momentum because there is a scarcity of assets. Because of this, the people who buy them first will be more powerful than the ones entering later in the game, since most of the assets would have been bought already.
The idea, he affirmed, came up when he was playing Monopoly with other developers while watching Stranger Things, a popular Netflix series. They perceived that real-world places based in a parallel universe were a very neat idea.
They proceeded to create the game later. Players will be able to trade their properties using the in-game currency, which is called UPX. At the moment, some people are already playing the game and buying properties based in a virtual San Francisco.
Several Companies Invested In The Game
FinLab EOS VC Fund, which is backed by Block.one, was the largest investor of the round. This does not mean that it was the only one. In fact, there were several other companies other than the VC fund created by the EOS-based company together with FinLab AG, a German company that invests in technological assets.
Other investors from the round included Kai Boli, Jan Sprengnetter and Markus Ogurek. Bolik is the co-founder of Gameduell, a large gaming community which has created over 70 games for their current 130 million players. Sprengnetter is the CEO of the Sprengnetter Group and Ogurek is the VC of Hewlett Packard Enterprise.
According to Stefan Schuetze, the managing director of the FinLab EOS VC Fund, the investment was made because the company really believes this idea to be a killer one. They also affirmed that the virtual real estate market powered by EOS could be a very interesting project.
There are many blockchain-based games being created today and this one really made an effort in order to stand out. With such a big investment so early, it seems that Upland may be a success.