Quick take:
- Upland allows players to generate revenue through gameplay, strategy and creations, which can be withdrawn directly to PayPal or via Upland’s in-game currency UPX.
- PayPal withdrawals are done in partnership with Tilia, an all-in-one payments platform created by the metaverse platform Second Life.
- Upland plans to launch its Ethereum-based token Sparklet in the first quarter of 2024.
GameFi platform Upland has revealed players withdrew more than $13.5 million in revenues from its platform in 2023. “This achievement underscores Upland’s thriving digital economy and its commitment to providing players with real-world value through virtual experiences,” Upland wrote in a press material shared with NFTgators.
The metaverse gaming and real-estate platform allows players to earn by playing games and selling their virtual assets.
Unlike most metaverse-based projects Upland allows players to trade in virtual properties that mirror real-world locations. Revenues can be withdrawn in the platform’s native currency UPX or in USD via PayPal.
The company has teamed up with Tilia, an all-in-one payments platform created by the metaverse company Second Life to facilitate USD withdrawals.
Commenting on the announcement, Dirk Lueth, Co-Founder & Co-CEO of Upland said: “Upland is the leading entrepreneurial and creator economic hub in web3. With more than 3M registered users and the largest active participation in the space, we have managed to build a thriving, immersive digital economy.”
According to Lueth, the $13.5 million PayPal withdrawals “reflect the strength of the P2P community and is indicative of the power of GameFi and true ownership.”
This milestone also arrived hot on the heels of Upland’s $7 million fundraising from EOS Network, C3 Venture Capital, and Animoca Brands, among others.
The company has established a diverse range of partnerships across different industries including FIFA, the NFL Players Association, UNICEF Brasil, and Susan G. Komen.
Upland boasts over 3 million registered accounts, nearly 300,000 landowners and more than 6 million NFTs sold. Besides selling virtual properties, Upland metaverse users can also engage in world-building and fun activities, like car racing.
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