A ‘Monopoly’ -Like Blockchain Property Trading Game Raises $2 Million

Uplandme, a maker of a digital property-trading game running on top of the EOS blockchain has received a combined $2 million in investment from FinLab EOS VC Fund and several angel investors. The launch of Upland has only afforded its availability in beta. The funds gotten will be used to support the development and upland is envisaged to become widely available later this year.

The game is billed as “‘Monopoly’ meets blockchain,” like the classic Parker Brothers board game. It enables players to buy, sell, and trade imaginary properties based on real-world addresses. In the actual monopoly board game, paper cards are used but this Upland game uses non-fungible tokens (NFTs) or digital collectibles to confer ownership of an asset. This is the same case in the popular blockchain game, CryptoKitties.

According to Uplandme’s statement, properties that are recorded on the blockchain throughout the gameplay are not for the gaming company, it will be truly owned by the players as opposed to most digital games. Land in this virtual realm has a fixed supply as it is in real life. Also, Upland players will be able to trade their properties on a marketplace with UPX, a currency indigenous to the game. Currently, Beta testers are able to trade properties in a virtual San Francisco.

“We expect that the game momentum will be driven by the simple fact that there is a natural scarcity of available properties because they are based on real-world addresses,” co-founder of Uplandme, Dirk Lueth said.

“One game night, while playing Monopoly and watching the Netflix series ‘Stranger Things’ we got thinking about a property game in a parallel universe and realized how properties that are based on real-world addresses can be the perfect collectible NFT,” Lueth said in an interview. A common aim to disrupt the $50 billion market for casual (mass market) games are currently in the plans of Lueth and his partners, Mani Honigstein and Idan Zuckerman.

Kai Bolik, co-founder and CEO of Gameduell, a gaming community with more than 70 games and 130 million players worldwide; Jan Sprengnetter, CEO of Sprengnetter Group, a property valuation provider; and Markus Ogurek, a former vice president of Hewlett Packard Enterprise; are the known angel investors in the seed round. FinLab EOS VC Fund is the lead investor and is backed by Block.one, the company that built the EOS blockchain, and FinLab AG, which focuses on investing in German financial technology companies.

“We invested into Uplandme, Inc. because we like the genuine idea of a virtual property market powered by the EOS Blockchain and the very experienced and passionate team behind it,” managing director of FinLab EOS VC Fund, Stefan Schuetze said. This certainly is another innovative and unique game borne from the blockchain technology.

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Credits- Daniel Kuhn

 

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