On Friday, October 20, the California-based crypto game Upland raised $7 million in a Series A funding round. The EOS Network led the successful fundraising in collaboration with other crypto and blockchain firms, including Animoca Brands and C3 Venture Capital.
EOS Leads Uplands Games in Series A Investment
In an official publication, the Upland team confirmed that the investment will be rerouted toward restructuring its crypto game. Firstly, the gaming company plans to add more features to boost the user’s experience.
The report illustrated that the Uplands developers will create unique features allowing players to purchase digital locations centered on real-world maps. Additionally, the Upland team plans to optimize its marketing strategy to reach a large audience and widen its market presence.
The report demonstrates that the proposed development on the Upland platform will activate developer tools created by third parties. The investment will enable the Uplands team to create an Ethereum token tied to its in-game utility token, Spark. Afterward, the Upland team plans to allow its token to be available on the Ethereum network as Sparklet.
Speaking exclusively, Dirk Lueth, the co-founder of Uplands, argued that the proposed development aims at blocking metaverse projects from stagnating. The executive was pleased to announce that the gaming company plans to increase Upland’s performance in the open market.
Upland Game Seek to Improve its Gaming Features
The CEO added that the Upland team plans to operate as compliant entities. Citing the Ripple case against the US Securities and Exchange Commission (SEC), the CEO confirmed that the Upland team had restricted the buying and selling of its native token to investors to attain the desired level of compliance.
The executive stated that despite the metaverse sector’s slow growth, the Uplands team has demonstrated its unwavering commitment to broaden its geographical presence. Leuth argued that the Uplands will not withdraw from its mission regardless of the cyclical nature of the metaverse sector.
Despite the slowing down the metaverse sector, Leuth believes that web technology has massive capabilities to transform the gaming company. As the chairperson for the Open Metaverse Alliance of Web3 (OMA3), Leuth noted that key players have engaged in continuous development to improve the sector.
He stated that the OMA3 has prioritized formulating the standards for the metaverse project. The executive indicated that during the launching of the Upland, the developers preferred EOS to Ethereum due to gas charges.
The executive confessed that the EOS network blended well with the needs of the Upland games. The massive capability of the EOS has enabled Upland to optimize its minting potential to around 80 non-fungible tokens (NFTs) every second.
Overview of Upland Market Performance
Notably, the gaming company was first launched in 2019, having similar features as Monopoly, a renowned board game. During the launching of the game, the Uplands majored in property trading games centered on the EOS blockchain network to allow the players to trade their digital real-world properties.
With the changes in the gaming sector, the Uplands team has heavily invested in significant upgrades to meet the ever-changing market demands. A revisit of Upland’s recent development demonstrates that the gaming company has integrated digital cafes, vehicles, and treasure-hunting features to enable players to hit their targets.
Beyond this, dynamism in the gaming industry has forced the Uplands team to organize a fashion event that will be launched in the coming months. The significant development of the gaming platform has expanded the Upland user base.
As of press, Uplands has registered over 3 million players with around 30000 active players. Interestingly, the attempt to cement its market performance has inspired Uplands to seek strategic partnerships with fast-paced gaming companies.
A recent report demonstrated that Uplands has partnered with FIFA and the NFL association to realize its end goal. The report shows Uplands plans to collaborate with more US, European, and Latin American firms to support its core objectives.
According to Leuth Uplands, a strategic partnership with ON1 Force anime-focused NFT game enabled the company to expand to Japan.