FinLab EOS VC Fund and several angel investors have invested a combined $2 million 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 Upland, which is currently available in beta, and will become widely available later this year.
The game, known as Upland, is billed as “‘Monopoly’ meets blockchain,” and as in the classic Parker Brothers board game, players buy, sell, and trade imaginary properties based on real-world addresses. The twist is that instead of paper cards, it uses non-fungible tokens (NFTs), or digital collectibles similar to CryptoKitties, to confer ownership of an asset.
Unlike most digital games, however, properties that are recorded on the blockchain throughout the gameplay will be truly owned by the players, not the gaming company. And just like in real life, land is in short supply.
“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,” said Uplandme co-founder Dirk Lueth.
Lueth and his partners, Mani Honigstein and Idan Zuckerman, aim to disrupt the $50 billion market for casual (mass market) games.
“One game night, while playing Monopoly and watching the Netflix series ‘Stranger Things’ we got thinking about a property game in a parallel universe and realized how properties that are based on real-world addresses can be the perfect collectible NFT,” Lueth told CoinDesk.
Angel investors in the seed round include Kai Bolik, co-founder and CEO of Gameduell, a gaming community with more than 70 games and 130 million players worldwide;