(BlockBar) A combined $2 million have been invested by FinLab EOS VC Fund and several angel investors in Uplandme, maker of a digital property-trading game running on top of the EOS blockchain. The funds will be used to support the development and launch of Uplandme. To be noted, right now it is available in beta, and will become widely available later this year. It is worth paying attention that Uplandme players will be able to trade their properties on a marketplace for an in-game currency called UPX. Beta testers are currently able to trade properties in a virtual San Francisco.
It is billed as ‘Monopoly’ meets blockchain, as in the classic Parker Brothers board game. The game enables players to buy, sell, and trade imaginary properties which are based on real-world addresses. Interestingly, it uses non-fungible tokens (NFTs), or digital collectibles similar to CryptoKitties instead of paper cards to confer ownership of an asset. According to Uplandme, gameplay will be truly owned by the players, not the gaming company.
According to Uplandme co-founder Dirk Lueth, “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.” Lueth and his partners, Mani Honigstein and Idan Zuckerman are aiming to disrupt the $50 billion market for casual games.
Co-founder and CEO of Gameduell Kai Bolik is also included in angel investors in the seed round. It 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.
FinLab EOS VC Fund, which is the lead investor, is backed by Block.one. To be noted, Block.one is the company that built the EOS blockchain, and FinLab AG focuses on investing in German financial technology companies. managing director of FinLab EOS VC Fund, Stefan Schuetze said, “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.”
John Danie is a highly experienced marketing strategist and businessman in the blockchain industry who likes the pace of the development of cryptocurrency, especially in blockchain technology where it can move so fast. Being a fintech writer and crypto reporter with a fascination for tech and a passion for starting interesting conversations, he seeks to create authentic news stories in the industry.