• McDonald’s Singapore launched the ‘My Happy Place’ metaverse in collaboration with Bandwagon Labs
• Users can build virtual burgers, play multiplayer games, and earn rewards in the metaverse
• The project will run from June 6 to July 7, and its success will determine future deployments
• Web3 technologies are used to enhance security, functionality, and use cases for digital collectibles
• Bandwagon Labs aims to address issues of third-party hosting and lack of tangible rewards in current metaverse experiences

McDonald’s, the global fast-food giant, has taken a step into the world of Web3 with the launch of its ‘My Happy Place’ metaverse in Singapore.

The project, a collaboration between McDonald’s Singapore and Bandwagon Labs, the metaverse division of entertainment media tech company Bandwagon, aims to provide customers with an engaging and rewarding virtual experience.

The ‘My Happy Place’ metaverse allows users to build virtual burgers, participate in multiplayer games, and earn tangible rewards, such as fries, for their participation.

???????? IT’S HERE! ????????

We're thrilled to launch My Happy Place, together with McDonald's Singapore! Dive into the metaverse where fun, flavor & friendship collide. Join us for interactive games, exclusive wearables, & endless joy.

???????? Welcome to your happiest moments! ???????? pic.twitter.com/jXTtBRqjKN

— Bandwagon Labs (@BandwagonLabs) June 6, 2024

According to Clarence Chan, the founder of Bandwagon Labs, the metaverse is designed as a creative canvas where users can express their creativity while interacting with others in real time.

McDonald’s maintains full control over its in-app metaverse, which will run from June 6 to July 7. The success of this trial period will determine the future of the project and potential further deployments.

The integration of Web3 technologies, such as wallet hosting services like MetaMask, enhances the security, functionality, and use cases for digital collectibles within the metaverse.

Chan, who has personally experienced the potential of the metaverse by getting married in a virtual environment, believes that this technology can significantly boost customer retention and fan engagement. However, he also acknowledges that current metaverse experiences often suffer from issues related to third-party hosting and a lack of tangible rewards for users.

Bandwagon Labs aims to address these challenges by providing McDonald’s with a metaverse that not only allows users to engage and play with friends but also offers tangible rewards for participation.

The post McDonald’s Singapore Introduces ‘My Happy Place’ Metaverse appeared first on Blockonomi.

• The Sandbox and Food Angel have launched ‘Food Rescue World’, a gaming experience in The Sandbox metaverse to raise awareness about food conservation and help those in need.
• Players can complete virtual quests to understand the food rescue process and earn coupons from local partners to directly support Food Angel’s initiatives.
• Food Angel rescues 45 tonnes of edible surplus food each week, producing over 20,000 nutritious meals and distributing over 11,000 meals and food packs daily.
• The Sandbox supports various charitable causes worldwide, and Food Angel joins organizations such as UNICEF, the French Red Cross, Nori, and WeForest.
• The partnership showcases the potential of “Metaverse for Good”, where virtual worlds are used to make a significant impact on real-world charitable causes.

The Sandbox, a prominent decentralized gaming virtual world and subsidiary of Animoca Brands, has joined forces with Food Angel, a Hong Kong-based charity, to launch the Food Rescue World gaming experience within The Sandbox metaverse.

This groundbreaking partnership, announced on May 31, 2024, marks Food Angel as the first social enterprise or non-governmental organization (NGO) in Hong Kong to venture into The Sandbox, highlighting the potential of using virtual worlds to make a tangible impact on real-world charitable causes through the “Metaverse for Good” initiative.

In celebration of World Food Rescue Week 2024, players are encouraged to explore Food Rescue World within The Sandbox and assist Food Angel’s mascot, Rice Boy, in completing a series of virtual quests.

These quests involve collecting surplus food from markets, processing it in a central kitchen, and distributing meals to underprivileged families.

Through this immersive metaverse experience, players gain a deeper understanding of the food rescue process while raising awareness about the importance of food conservation and sharing surplus food with those in need.

By successfully completing all quests in Food Rescue World, players can earn coupons from local partners Lalamove and Maxim’s, enabling them to directly support Food Angel’s initiatives.

Ms. Gigi Tung, founder of Food Angel, expressed her enthusiasm for the collaboration, stating,

“By utilizing the power of the metaverse to expand our reach to the next generation, we hope to build a deep collaboration with The Sandbox. This innovative approach provides a new way to promote and ensure a sustainable future for our cause.”

The Sandbox Hong Kong team, along with their Trusted Partners GoGoBox and Chord Hero, recently visited Food Angel’s kitchen to prepare food ingredients and meal boxes, fostering a hands-on collaboration that bridges virtual and real-world efforts.

Food Angel, launched in 2011 by the Bo Charity Foundation, operates a food rescue and food assistance program with the mission of “Waste Not, Hunger Not, With Love”.

The program rescues edible surplus food from various sectors of the food industry that would otherwise be discarded as waste.

Following strict safety protocols, the rescued food items are prepared as nutritious meals in central kitchens and distributed as food packs to underprivileged communities in Hong Kong. Currently, Food Angel rescues 45 tonnes of edible surplus food each week, producing over 20,000 nutritious meals and helping distribute over 11,000 other meals and food packs daily, free of charge, to those in need of food assistance.

The Sandbox, a subsidiary of Animoca Brands, is an immersive metaverse platform that allows users to play, create, and monetize unique experiences alongside their favorite brands, IPs, and celebrities across various aspects of culture.

The platform leverages Web3 technologies to enable end-user creation and creator economies, providing both players and creators with true ownership of their assets, creations, and rewards in the form of non-fungible tokens (NFTs).

As Sebastien Borget, co-founder and COO of The Sandbox, stated,

“We are proud that The Sandbox team, creators, and players can get involved in Hong Kong Food Angel and make a difference in the lives of local people in need by taking part in the Food Rescue World experience.”

The post Food Rescue World: Blending Gaming and Charity in The Sandbox Metaverse appeared first on Blockonomi.

TLDR

• Victoria VR is releasing the first metaverse app for Apple’s new Vision Pro headset in Q2 2024, featuring ultra-realistic graphics and immersive gameplay
• The Victoria VR metaverse will showcase the capabilities of the Vision Pro while highlighting Web3 technology
• Victoria VR’s metaverse is fueled by the ERC-20 based VR token, which rewards users for engagement and locks up half of in-game revenue to redistribute
• The VR token price surged 60% in the last 24 hours to a $103 million market cap after the Vision Pro app announcement
• Victoria VR aims to make its metaverse inclusive and accessible using a “pay-to-speed” model rather than “pay-to-win”

Crafted over two years by a 80-person development team in Prague, Victoria VR leverages the advanced display and tracking capabilities of the Vision Pro to transport users into stunning VR environments centered around the concept of Feng Shui. Players can acquire virtual land plots as NFTs and freely design lavish interiors and exteriors tied to their blockchain wallet.

Central to Victoria VR is its ERC-20 VR governance token, which powers participation incentives and the in-game economy. Active users and stakers will be rewarded from a pool funded by 50% of revenue from in-game NFT sales. This unique tokenomics design aims to drive engagement while preventing “pay-to-win” dynamics.

ARE YOU READY? ????????????#VictoriaVR #VR $VR #VisionPro #VisionOS #Apple #AppleVisionPro #AppleVR #VirtualReality #Metaverse pic.twitter.com/6oxIwNa7dm

— Victoria VR (@VictoriaVRcom) February 2, 2024

The VR token has already attracted strong interest, seeing 24-hour trading volume over $100 million immediately after its IDO. Speculation around the Vision Pro app has now sent VR surging 60% in the past day to a market capitalization of $103 million.

For Apple, the Victoria VR app represents its first foray into the potentially lucrative metaverse space, positioning Vision Pro as an alternative to Meta’s established Meta Quest headset. While companies like Disney have recently scaled back their metaverse investments, Victoria VR sees strong potential in blending VR technology with blockchain rewards.

Indeed, Victoria VR appears uniquely poised to showcase the promise of Web3 integration with augmented reality. And with crypto adoption steadily rising, Victoria VR’s model of incentivizing participation could make its metaverse radically more engaging than existing alternatives while upholding principles of accessibility and inclusion.

Of course, questions remain around VR hardware adoption and Victoria VR’s ability to retain users long-term. The staggering $4.6 billion 2023 operating loss posted by Meta’s Reality Labs segment shows the challenges of profitability, even for metaverse first-movers.

Still, by aligning itself with Apple’s walled garden ecosystem from the outset, Victoria VR is betting it can leapfrog incumbent platforms by tapping into the world’s most valuable brand community. If this gambit pays off, Victoria VR could emerge as the first genuinely mainstream and self-sustaining metaverse underpinned by blockchain rewards.

The post Victoria VR Set to Launch First Metaverse Experience on Apple’s Vision Pro Headset appeared first on Blockonomi.

Cline has teamed up with AI and metaverse company Futureverse to create the “Readyverse” – an interactive virtual world inspired by the one depicted in Cline’s bestselling book and its 2018 film adaptation by Steven Spielberg.

Keypoints

• Ernest Cline, author of “Ready Player One”, is working with an AI company called Futureverse to create a metaverse based on the book/movie.
• They have launched a new company called Readyverse Studios to develop this metaverse, called the “Readyverse”.
• Readyverse Studios has partnered exclusively with Warner Bros. Discovery to bring the Ready Player One franchise into the metaverse.
• The Readyverse will be an interactive virtual world where people can explore environments and characters from the story through VR headsets and other devices.
• There will be opportunities for other studios and brands to create content and experiences in the Readyverse metaverse.

To bring the Readyverse to fruition, Cline and “Ready Player One” film producer Dan Farah have co-founded a new venture called Readyverse Studios. The company has partnered exclusively with Warner Bros. Discovery, which released the Ready Player One movie, to develop metaverse experiences based on the franchise across web3 platforms.

According to Futureverse’s co-founders, the Readyverse metaverse will allow people to explore environments, characters and objects from the Ready Player One universe. Users will be able to purchase custom “skins” or looks for their avatars, as well as digital assets like vehicles and real estate that are typically out of reach in the real world.

The goal is to make the Readyverse an interoperable, decentralized open metaverse powered by blockchain technology for secure digital ownership.

We couldn’t be more excited to announce that we’ve teamed up with @readyplayerone creator and producer to launch Readyverse Studios to bring leading IP and brands to the metaverse. pic.twitter.com/6sU6FpOSdE

— Futureverse (@futureverse) January 4, 2024

Bringing a major Hollywood IP like Ready Player One into a digital metaverse marks a major milestone in bridging entertainment with virtual worlds. It shows the momentum behind metaverses and the opportunity for studios to engage fans in new interactive storytelling formats. For Web3 advocates, it’s a step toward mass consumer adoption of blockchain-based metaverse experiences.

While the full scope of the Readyverse is still taking shape, fans can expect to visit virtually rendered versions of iconic settings from the Ready Player One book and film. They may be able to play games, go on quests and interact with characters like Parzival, Art3mis and IOI head Nolan Sorrento. Readyverse Studios envisions partnerships with other studios to incorporate more IPs into this open metaverse.

Silicon Valley has poured investment into metaverse and VR technology with the belief it’s the next evolution of the internet. However, some experts argue the vision in Ready Player One of everybody abandoning the real world for a utopian virtual simulation remains far from reality. Challenges around hardware constraints and mass adoption persist.

Still, the momentum behind Readyverse Studios shows major entertainment and tech players are placing their bets. For Warner Bros, the Readyverse provides more monetization of a hit franchise. For Ernest Cline, it’s a chance to fully realize the virtual world he imagined. As he put it, “The future has arrived even more quickly than I imagined.” Now fans eagerly await their golden ticket to experience this virtual OASIS.

The post Enter the OASIS: Inside the Ambitious New Metaverse Based on “Ready Player One” appeared first on Blockonomi.

Keypoints

• Pudgy Penguins is launching an open world alpha game called Pudgy World in Q1 2024 using zkSync layer-2 technology
• Pudgy World will allow Pudgy NFT holders and Pudgy Toy owners to customize penguin characters and go on story adventures
• The launch introduces two new “Hero Characters”, Pudgy and Peaches, to guide players
• Pudgy World aims to be an easy introduction to web3 through a fun, immersive experience
• zkSync was chosen for its accessibility, privacy features, and ability to scale the game

Centered around the beloved cast of Pudgy Penguin characters, Pudgy World will allow players to explore an open world, customize unique penguin avatars, and embark on story-driven adventures alongside friends. Central to these adventures will be two newly introduced “Hero Characters” named Pudgy and Peaches who act as guides in the Pudgy World narrative.

Access to Pudgy World will be granted not only to holders of the Pudgy Penguins NFT collection but also to owners of the brand’s recently launched toy line now available in over 2,000 Walmart stores. Each plush Pudgy Penguin toy contains a scannable QR code that enables its owner to claim a specifically traited digital penguin character to play within the game. For non-NFT and toy holders, Pudgy World will also be free-to-play with the ability to purchase customizable cosmetic traits.

Pudgy World Alpha, powered by @zksync, releasing Q1 of 2024.

The beginning of a new era of blockchain-backed experiences, with the goal of onboarding millions, brought to you by Pudgy Penguins. pic.twitter.com/ZvCRRGSUSH

— Pudgy Penguins (@pudgypenguins) December 10, 2023

The strategic blending of IP between physical and digital worlds aims to provide an easy onboarding to web3 concepts for mainstream audiences through recognizable characters applied to gaming experiences. As an entertainment brand with established mass market penetration, Pudgy Penguins is uniquely positioned to introduce web3 technology to the next generation of users.

Powering the backend technology for Pudgy World is zkSync, an Ethereum layer-2 scaling solution using zero-knowledge proofs to enable faster and more affordable transactions. zkSync offers the reliability and accessibility needed for Pudgy World to potentially scale to millions of players over time.

While many view web3 gaming as the inevitable future, tangible examples of hybrid physical/digital interactive worlds are still few and far between. Yet with brands like Pudgy Penguins leveraging their IP in innovative ways, the metaverse future may arrive sooner than expected. If done right, Pudgy World could provide a blueprint for others looking to transform dedicated fanbases into engaged web3 communities.

For Pudgy Penguin fans, Pudgy World promises to deliver on the desires for more interactive experiences with their beloved characters.

With the power of an established brand, cutting-edge technology, and a passionate audience at its back, Pudgy World has the makings of a breakout hit in web3 gaming’s early days.

The post Pudgy Penguins Waddles into Web3 Gaming with Upcoming Metaverse Experience appeared first on Blockonomi.

Keypoints

• Animoca Brands has raised $31.88 million total for its Mocaverse metaverse project, including a new $11.88 million tranche
• Mocaverse aims to be an “empowerment layer for Web3 culture and entertainment” via digital identities and loyalty points
• The ecosystem will initially include Animoca’s portfolio of 400+ companies, with plans to expand to more Web3 projects
• Mocaverse recently partnered with blockchain game Pixels to integrate rewards and exclusives into its platform
• Over 41,000 Moca IDs have been minted already for access to the metaverse and loyalty program

Described by Animoca as the “cornerstone for web3 culture and entertainment,” Mocaverse aims to serve as an open and permissionless empowerment layer that supercharges engagement, growth, and rewards for users across a myriad of blockchain-based games, apps, platforms and more.

Central to this sprawling ecosystem is the web3 Frequent Player Program and the introduction of loyalty points known as Realm Points. By obtaining a Moca ID digital identity, users can seamlessly engage across the 400+ companies in Animoca’s portfolio and earn Realm Points for participation, which can then be exchanged for real-world rewards and exclusives.

The recent integration with hit blockchain game Pixels represents the expansive potential in connecting platforms via Mocaverse. Pixels users can now access special pets, avatars, boosts when linking their account to Mocaverse and partaking in collaborative quests, with much more slated to come.

With over 41,000 Moca IDs already claimed, users are clearly excited by the prospect of interoperable loyalty perks that transcend individual walled gardens in the blockchain gaming space. And by progressive decentralization of the loyalty and identity constructs over time, Mocaverse aims to spur adoption across hundreds of Web3 apps to bootstrap the next generation of users.

“We’re creating an ecosystem where users can easily onboard into Web3, establish their identities, build reputation, and be rewarded for their participation,” said Animoca co-founder and executive chairman Yat Siu. “It’s a completely new way of thinking about how we interact in virtual worlds.”

The additional influx of funding will spur more collaborations like Pixels while expanding the digital identity and loyalty offerings. And the investor mix provides both deep gaming expertise via outfits like Dapper Labs as well as blockchain infrastructure support from Polygon to help scale Mocaverse to its lofty goals.

If Animoca can rally its network of partners around this interoperable meta-layer while enticing new platforms into the ecosystem, Mocaverse has the potential to redefine community loyalty to bootstrap the open metaverse. Judging by progress so far Animoca may soon make its ambitious Mocaverse vision an empowering reality across Web3.

The post Animoca Brands’ Ambitious Mocaverse Attracts $31.88 Million in Funding to Empower Web3 Gaming appeared first on Blockonomi.

Keypoints

• Reebok has partnered with crypto startup Futureverse to develop AI and blockchain-based games and digital experiences
• They will launch an on-chain gaming experience next year called “Reebok Impact” that incorporates digital wearables
• This aims to extend Reebok’s brand presence into the metaverse and virtual worlds
• Parent company Adidas and rival Nike have also moved into digital fashion, NFTs, and gaming
• But Reebok seems focused on creating immersive gaming experiences for its digital shoes

The goal is to revolutionize digital fashion by transporting the Reebok brand into virtual realms. Reebok and Futureverse plan to showcase digital versions of Reebok’s shoes as on-chain wearable items paired with NFTs. This digital integration mirrors steps already taken by Reebok’s parent company Adidas along with other shoe brands such as Nike.

But uniquely, Reebok’s partnership appears intensely focused on building immersive gaming universes in which its coming digital kicks can live. The centerpiece of the collaboration is an ambitious on-chain game slated for 2024 dubbed “Reebok Impact.”

Excited to partner with @futureverse to launch @ReebokImpact in 2024, a mind and heart-bending digital shoe experience that will allow our community and beyond to dive into AI and digital wearables. https://t.co/uH4CgAiYQn

— Reebok (@Reebok) December 7, 2023

Described as a “mind and heart-bending digital shoe experience,” Impact will demonstrate “that life is not about your sneakers, it’s about what you do while you wear them,” according to Reebok. The game will leverage AI, digital wearables, and haptic feedback for interactive play that seems poised to take the idea of “connected shoes” to new territory.

For Reebok, moving aggressively into web3 gaming and metaverse branding reflects the ethos of its “life is not a spectator sport” campaign. The company wants to use technologies like augmented reality not just to sell digital products, but to create participatory adventures that estrange shoes from real-world practicality.

Reebok’s CEO Todd Krinsky said that through ventures like Reebok Impact, the company “transcend[s] traditional boundaries of innovation to engage our consumers in the digital evolution of our products.” The promise is to revolutionize physical fashion by sending it hurtling into virtual worlds.

Futureverse, Reebok’s technology partner, focuses on establishing an open, multi-platform metaverse ecosystem via major acquisitions. The startup raised $54 million in Series A funding in July 2022 to aid its buying spree of NFT games and crypto companies. While none have specifically dealt with digital wearables yet, Futureverse now seems primed to help Reebok pave new terrain.

For legacy fashion and footwear brands, expanding into metaverse experiences has become imperative amid shifting consumer attitudes and behaviors seen during the pandemic. Companies like Nike and Adidas have already experimented with digital apparel tied to NFTs that offer exclusive access to real products.

But in doubling down on metaverse gaming, Reebok is now betting that virtual worlds won’t just complement physical ones—they’ll be instrumental in redefining products and how brands engage with consumers. The promise of ventures like Reebok Impact is to make real-life shoes almost secondary to the digital experiences they unlock.

It’s a bold leap for a decades-old company steeped in tangible sports heritage. But by targeting new demographics through virtual entry points, Reebok hopes to inject renewed life into its business via digital means—while keeping at least one foot rooted in the physical world.

The post Get Ready to Play in Reebok’s Mind-Bending Blockchain Sneakers appeared first on Blockonomi.

Keypoints

• Decentraland is hosting its 3rd annual music festival from Nov 16-18 called Decentraland Music Festival ’23 (#DCLMF23)
• The festival will feature over 80 performances, games, and events across 5 stages designed by award-winning virtual creators
• Headliners include digital music pioneers like Cora Novoa, Trick Daddy, GuccieToe, Bufalo, Glitch Rave, Steve Sai
• Attendees can participate in interactive music experiences like a collaborative art tower, medieval music quest, and more
• Festival showcases innovative projects fusing music, gaming, virtual worlds, and explores the future of artist-fan connections

Boasting five stages designed by award-winning virtual creators, the festival features over 80 diverse acts. Headliners include digital music pioneers like Cora Novoa, Trick Daddy, GuccieToe, Bufalo, Glitch Rave, and Steve Sai. Beyond the performances, #DCLMF23 offers numerous interactive experiences fusing music, gaming, and virtual worlds.

Attendees can jam with friends in an interactive music river. They can also build a collaborative pixel art tower that gets displayed as a festival landmark. One medieval village quest tasks users with restoring stolen music by battling a boss. Neo-Techno Paganist raves send explorers on virtual wearable quests.

#DCLMF23 is your ticket to a Neo-TechnoPaganist extravaganza, featuring 5 stages, over 80 performances, and 15 new games & experiences!

???? Save your spot for Nov 16-18! https://t.co/SHb8fBcaKA

— Decentraland (@decentraland) November 14, 2023

These metaverse-native experiences highlight the festival’s goal of redefining musical artist-fan connections. #DCLMF23 also showcases innovative projects from Japan fusing music and gaming. Synthetic human DJs are set to perform, offering a glimpse into the music industry’s hi-tech future.

With values of radical creative expression, community bonding, and artistic renewal, #DCLMF23 pushes the boundaries of musical entertainment. It represents a future vision of music where virtual venues, cross-medium experiences, and new creator-fan dynamics are the norm.

The festival schedule and lineup are available online. Decentraland’s guide also assists visitors in navigating the sprawling metaverse event. Attendees are encouraged to sport virtual fashion items from the Decentraland marketplace to fully immerse themselves in this digital music revolution.

The post Decentraland (MANA) Hosts Immersive Musical Metaverse Experience appeared first on Blockonomi.

Keypoints

• The Sandbox has launched open self-publishing for LAND owners, allowing them to instantly publish their experiences on the metaverse map without needing prior approval. This makes it easier for users to create and share content.
• They’ve removed the application process previously required for publishing, opening up creativity and user generated content in the metaverse.
• The Sandbox aims to have 2,000 user-generated experiences published by 2024.
• They announced an updated no-code Game Maker tool coming soon, providing more templates, mechanics, and features to make game creation accessible.
• The Sandbox has reinvested 100 million SAND tokens into a Game Maker Fund to incentivize creators and encourage more engaging content.
• This was announced at The Sandbox’s first Global Creators Day event in Hong Kong, emphasizing their commitment to creators.
• 30% of The Sandbox’s 5 million users are in Asia, so hosting the event in Hong Kong strategically engaged that audience.

The biggest reveal was that The Sandbox is now allowing open self-publishing for LAND owners. Users can instantly publish their own experiences and games on The Sandbox map without needing prior approval through an application process. This removes a major friction point and paves the way for an explosion of user creativity.

???? THE METAVERSE IS NOW OPEN ????

Starting today, LAND owners in The Sandbox can instantly publish experiences on the map!

We're accelerating user-generated content to unleash the creative potential of creators like you. Let's build the metaverse together. #UGC #CreatorsDayHK pic.twitter.com/A2E8gNI2it

— The Sandbox (@TheSandboxGame) November 3, 2023

The Sandbox aims to have 2,000 user-generated experiences published by 2024 thanks to this change. Currently, only around 30% of its 150,000 LAND parcels have been activated with content. By opening self-publishing, The Sandbox hopes to see its virtual world become more vibrant and diverse with more user experiences.

To further empower users to create content, The Sandbox announced an updated version of its no-code Game Maker tool. Game Maker 0.9 will provide more templates, mechanics, and features to make game creation accessible to everyone. This democratization of game development will allow anyone to become a creator in The Sandbox metaverse.

As one more way to incentivize creators, The Sandbox is injecting 100 million SAND into a Game Maker Fund. This significant investment will provide grants and rewards to developers of engaging games and experiences. The Sandbox will also incorporate its DAO into the reward structure to encourage community-driven content.

These announcements made at Global Creators Day in Hong Kong signal The Sandbox’s commitment to putting creators first and making Web3 a new paradigm for user control, ownership, and revenue. By enabling open creativity through self-publishing and accessible game development, The Sandbox aims to rapidly expand its content and replicate the user-generated explosion that propelled platforms like Roblox to success.

The post The Sandbox Opens Floodgates to User-Generated Content with Major Announcements appeared first on Blockonomi.

With the new capital injection, Upland’s total Series A financing now stands at $25 million following its initial $18 million raise last year. The funding extension was led by EOS Network Ventures, marking the venture firm’s inaugural investment in a cryptocurrency gaming startup.

Keypoints

• Upland, a metaverse app built on the EOS blockchain, has raised $7 million in a Series A funding extension round.
• The funding was led by EOS Network Ventures, marking their first investment in a crypto gaming company.
• Total funding for Upland now stands at $25 million after last year’s $18 million raise.
• The funds will support expanding Upland’s metaverse through new features and tools utilizing AI, as well as boosting marketing efforts.
• A key goal is making Upland’s utility token Spark tradable on external crypto exchanges, starting with Ethereum as Sparklet after a community vote.
• Upland has over 3 million user accounts and 300,000 virtual property owners. It offers features like property trading, competitive racing, and virtual shops.

Since its launch in 2018, Upland has emerged as one of the most popular metaverse applications with over 3 million registered user accounts to date. Built on the EOS blockchain, the platform allows players to buy, sell, and trade virtual property mapped to real-world addresses.

Beyond just digital real estate, Upland has rolled out various features and activities to drive user engagement on its metaverse. These include operating virtual shops, participating in treasure hunts, car racing, and hosting fashion events.

According to Dirk Lueth, co-founder and co-CEO of Upland, the fresh capital will enable the startup to accelerate development of new features and platform components powered by AI technology.

Additionally, a key priority will be listing Upland’s utility token Spark on external cryptocurrency exchanges, starting with Ethereum. Through a community vote, Spark will be converted to Sparklet when launched on Ethereum.

This external listing aims to boost visibility and liquidity for Spark, which is currently only tradable within Upland’s closed ecosystem. The move was also motivated by Ripple’s recent legal victory, reinforcing that not all crypto tokens are securities.

Upland emphasizes it has never sold Spark tokens to investors, avoiding the intense regulatory scrutiny that has plagued many cryptocurrency projects.

While hype around the metaverse concept has dwindled over the past year, Upland remains confident that demand for interactive virtual worlds persists. With major brands like sports organizations FIFA and NFLPA on board, Upland envisions creating the most extensive digital open economy powered by true asset ownership.

Backed by fresh funds and its growing community, Upland expects to continue trailblazing the path toward mass adoption of blockchain applications. As both a platform and company, it aims to take a long-term view on cultivating utility and value creation for users.

The post Upland Raises $7M to Fuel Metaverse Growth and Spark Exchange Listing appeared first on Blockonomi.