Upland Recently Raised $18m at $300m Valuation
Grace Mahas — November 3, 2021 — Tech
References: venturebeat
Upland, which is described as "a non-fungible token (NFT)-based virtual real estate game with an added social experience," is one of the most high-profile games to launch recently on the blockchain. The Upland world allows players to collect unique tokens associated with physical locations around the globe with gamification elements including auctions, achievements, and leaderboards.
The tokens you buy with your real world money cannot be duplicated, so they have intrinsic value. In this way, Upland is a lot like a digital version of Monopoly. In the online version of the board game, the properties can be transferred from one player to another, but there's no way for you to print off a duplicate set of property cards. Each set of properties belongs to a single player and can never belong to another player.
Image Credit: Upland
The tokens you buy with your real world money cannot be duplicated, so they have intrinsic value. In this way, Upland is a lot like a digital version of Monopoly. In the online version of the board game, the properties can be transferred from one player to another, but there's no way for you to print off a duplicate set of property cards. Each set of properties belongs to a single player and can never belong to another player.
Image Credit: Upland
Trend Themes
1. Nft-based Virtual Worlds - As gaming and virtual experiences move towards blockchain-backed NFTs, there is an opportunity to create immersive virtual worlds with unique property ownership.
2. Blockchain-backed Collectibles - With the increasing adoption of NFTs, there is an opportunity to create collectible items with verifiable authenticity and ownership.
3. Gamification of Real-world Experiences - Upland's success highlights the opportunity to gamify real-world experiences, creating engaging gameplay around location-based properties.
Industry Implications
1. Gaming - The gaming industry has a clear opportunity to develop new business models centered around NFT-based virtual worlds and blockchain-backed collectibles.
2. Real Estate - The real estate industry could explore new revenue streams around location-based NFTs and integrate gamification elements into their offerings.
3. Marketing and Advertising - Brands could create engaging marketing campaigns around NFT-based collectibles as a way to drive consumer engagement and loyalty.
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