Upland secures $7M funding aiming at AI metaverse expansion and Spark token exchange listing News ▸ EOS · Ethereum ▸ Investments
Upland secures $7M funding aiming at AI metaverse expansion and Spark token exchange listing
EOS Network Ventures backs Upland's Series A funding, fueling metaverse growth and external Spark tradeability
2 min read
Updated: Oct. 20, 2023 at 2:40 pm UTC
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The web3 Metaverse “super app,” Upland, has extended its Series A funding, successfully securing an additional $7 million.
According to Upland, this latest investment round, which includes EOS Network Ventures as a new investor, brings the firm’s total funding to $25 million.
Riding a wave of increasing user engagement and steadily growing virtual property ownership, Upland seems poised to double down on the resurgence of metaverse hype. The app has registered over 3 million accounts on the EOS blockchain, with almost 300,000 virtual property owners, while continuously launching and enhancing features, including a new car racing app, in-game racing features, and a third-party developer platform.
The newly acquired funds aim to propel Upland’s mission to construct the world’s most expansive digital open economy and advance its innovation roadmap, such as introducing novel features and platform components utilizing AI.
Furthermore, the funding will bolster the company’s initiative to make its utility token, Spark, tradeable outside the Upland platform on Ethereum through a Token Tradability Event, marking its debut on external exchanges.
Last year, Upland raised $18 million last year, channeling funds to broaden its global footprint, develop new features, form strategic brand partnerships, and accelerate user acquisition. This move aligns with “Upland’s ability to offer a captivating web2 experience that seamlessly abstracts away the intricacies of blockchain technology while delivering the advantages of true asset ownership,” as EOS Network Ventures’ director, Yves La Rose, explained.
Upland is creating an immersive web experience mapped to the real world through its metaverse. The platform offers various activities for players and creators alike, including virtual property trading, world-building, and competitive car racing. Moreover, it allows entrepreneurs to operate virtual shops powered by UPX, Upland’s native currency, and Spark, a utility token that fuels value creation by its highly engaged community.
Upland is available from the App Store or Google Play. The recent announcement of plans to make Spark tradable on exchanges (converted to “Sparklet” on Ethereum) and the publication of a white paper, approved by an 87% majority of the community, can also be found on the Upland website.
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Liam 'Akiba' Wright
Also known as "Akiba," Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
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