Upland is a virtual world game that uses blockchain technology to enable users to buy and sell NFTs for UPX tokens, resulting in the formation of a virtual economy. The EOS network team created the Upland blockchain and coin. Is Upland an NFT game? Read on to find it out.
The game is developed on the EOS blockchain, which has an appropriate permission system and processing performance for widespread use. UPX is another coin developed on the EOS network.
Is Upland an NFT Game?
Is Upland an NFT Game? Upland (UPX) is an NFT digital property trading game in which users may exchange virtual real estate for native UPX coins or fiat currency. The game was launched in July 2018. It makes use of its metaverse, and its customers may purchase virtual real estate that correlates to a physical address. As the project evolves, the coin price and supply will be priced.
Upland is a blockchain-based game where players may purchase, sell, and trade virtual assets that are tied to real-world locations. Users may create properties and earn UPX currency by becoming “digital landowners.” The initiative makes use of blockchain to connect each property on the Upland network to an NFT.
Upland, maybe unlike many other innovative blockchain-based games, is attempting to establish a market-based digital ecosystem that blurs the barriers between the actual and digital worlds.
Users can use money or cryptocurrency (the UPX coin) to acquire digital assets within the game and exchange them with other users. It’s worth mentioning, though, that for a while there was no source of financing out your UPX coins; all you can do is reinvest them in other assets, which earned you more UPX.
How Does Upland Work?
It appears to be an easy procedure. Users acquire UPX coins with fiat currency, then buy virtual properties, make money, enhance their properties to earn more money, and swap their properties for cash.
Nevertheless, the only way to pay out UPX tokens is to sell assets. Users can sell their homes in return for fiat currency. Upland, on the other hand, distributes UPX tokens regularly to encourage consumers to keep their assets. These monthly revenues are deposited into the UPX accounts of the members.
The game allows you to purchase real estate NFTs with UPX tokens or fiat money. Before selling assets for cash, users are asked to validate their identification. When consumers successfully trade their real estate, they may send their fiat revenues to Paypal from their wallets.
“Collection” is another phrase in the game that refers to a task created by the game’s designer. When users acquire all properties in a certain collection, the return on UPX coins increases. However, due to property limitations or expensive prices, it is becoming increasingly difficult to complete a collection. Users may have to haggle with the owners to purchase these uncommon homes.
If users are looking for real-estate NFTs, they should go to the Upland marketplace. Each user is also assigned an explorer droid, which travels to other neighborhoods to uncover new regions inside the game. In addition, the marketplace allows people to sell assets and reply to offers.
Upland users are classified into two groups: “Visitors” and “Uplanders.” Let’s go through each category.
- Visitors: Visitors in Upland have several EOS accounts, allowing them to play the game. If a guest user is idle for 7 days, the account will be recycled for new visitors to utilize. Renewed accounts are free of coins and real estate rights. To keep exploring the virtual world, visitors must renew their visas every week.
- Uplanders: The term “Uplander” relates to people whose token and real estate worth exceeds 10,000 UPX tokens. When a person possesses more than 10,000 UPX, they will be given a registered EOS account. As a result, according to the blockchain record, that person will be the only owner of NFTs.
What Does Upland Offer?
The Upland game is meant to be extremely user-friendly, allowing both gaming professionals and cryptocurrency newcomers to simply join and participate. It’s accessible for both PC and mobile devices. Players are attracted to play because they have the opportunity to make real money, whereas most systems in conventional games do not allow users to earn money.
Users just simply enter their emails and finish their first assignment to obtain 3000 UPX as a welcome bonus if they choose to join the game. Following that, they will need to purchase UPX tokens to obtain in-game real estate.
The in-game components are in the format of NFTs so that users own the assets and no foreign entity may modify or remove them as the proprietors based on the unique qualities of NFTs. Moreover, Upland offers several methods for valuing its NFTs.
Upland users may now exchange their properties within the game for USD, or they can regard their NFTs as collectors and retain them indefinitely. The game also allows users to buy in-game assets based on real-world properties to which they may have an emotional relationship.
Where to Use The UPX Token?
UPX can only be purchased in-game. The coin is created during the monthly distribution of prizes to people who possess at least one property. Furthermore, users may purchase UPX using USD to acquire real estate. As a result, when consumers require more UPX to purchase properties, the token supply grows by exchanging fiat money for UPX.
Upland lets users buy virtual real estate that corresponds to real-world addresses. As a result, because real-world addresses are restricted, Upland NFTs are few. The liquidation of the UPX market determines the price of NFTs (or properties). However, the supply and demand for UPX have an impact on NFT pricing.
The collaboration between Upland and Tilia Pay allows Upland gamers to exchange NFT-backed virtual assets based on real-world locales. Upland is making inroads into a slew of rapidly emerging blockchain-based games, with over 10,000 daily active players and more than 40,000 monthly active users.