Virtual Real Estate NFT Game Upland Raises $18M at $300M Valuation | 60,000 Active Daily Users

Urian B., Tech Times 02 November 2021, 01:11 pm

Upland has just been able to raise a whopping $18 million at a now $300 million valuation for its own nonfungible token NFT virtual real estate game. The game was described as similar to a real-world version of Monopoly.

Uplandme.Inc as Fastest-Growing Metaverses that Mapped the Real World

Palo Alto, a certain California-based Upland or officially known as Uplandme.Inc., describes itself as actually having one of the fastest-growing metaverses on the whole blockchain that is reportedly mapped to the real world. The game overlays virtual digital ownership in the real world. This means that a homeowner could own their property in both the physical world as well as in the virtual world.

The game even allows players to own the San Francisco City Hall within the virtual world itself. NFTs reportedly use the transparency and security of the digital ledger of blockchain to authenticate these digital items like properties.

Upland Reaches a $300 Million Valuation

According to the story by VentureBeat, the company already has a $300 million valuation despite only being available in 13 cities across the US as of the moment. NFTs have been exploding in popularity this 2021, and this reportedly explains the strong valuation for Upland.

As of the moment, Upland has 60,000 active daily users, which is still relatively small. Animoca Brands, which has raised $138 million in funding, led the official investment.

It was noted that the previous investor C3 Management, which was known formerly as FinLab EOS VC, also contributed to the said round. The new investors now include the following.

Upland Investors

Block.one
OneTeam Partners
Alumni Ventures Blockchain Fund
Michael Ronen (formerly known as SoftBank managing partner)
Global Founders Capital
Mike Vorhaus (from Vorhaus Advisors)
Michael Terpin (the Founder/CEO of Transform Global

Popularity of NFT Games

It was noted that others were also included in the funding round. Upland confounder Idan Zuckerman stated in an interview that the company is reportedly profitable and will also be using the money to hire people and invest in user acquisition.

Ever since spring of 2021, the article by VentureBeat noted that they have been writing regularly regarding NFTs, including NFT games. It was noted that if one looks at Google Trends, it can be seen that NFTs are starting to pick up ever since February.

NFT Games Profit

NFTs have also started to skyrocket after certain NFT related sales, just like digital art, as well as NBA Top Shot, had taken off. Dapper Labs has reportedly seen sales and resales of those particular NFTs top a whopping $780 million.

NFT games have reportedly started springing up, with Axie Infinity leading in Dapp revenue at $190.9 million in the span of the last 30 days. This shows just how popular NFT games have become and how they have already proven lucrative.

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Written by Urian B.