Upland recently raised $18M after being valued at a whopping $300M for its NFT virtual real estate video game mapped to the real world and powered by EOS.
Upland's real estate system is mapped to the real world, and allows players to participate in a virtual "real economy" based on their in-game UPX token and NFTs powered by the EOS Blockchain.
"NFTs use the transparency and security of the digital ledger of blockchain to authenticate digital items, and in this case, the NFTs authenticate ownership of a property, like the digital version of the Empire State Building."
The company behind Upland is Uplandme, Inc., a Silicon Valley based company with support from organizations such as Block.one (creators of the EOS blockchain), and veterans from the gaming, real estate and technology industries.
The $300M valuation is likely due to the growing global interest in the world of non-fungible tokens (NFTs). New investors in this round include: OneTeam Partners, Block.one, Alumni Ventures Blockchain Fund, Global Founders Capital, Michael Ronen, Mike Vorhaus and Michael Terpin.
The funds raised will be used to hire people and invest in user acquisition, in order to speed up the development of the platform.