Swedish publisher with Russian roots G5 Entertainment announced an investment in Uplandme Inc. The authors of the Upland blockchain game, in which you can buy virtual real estate, will receive $ 2 million.In total, G5 Entertainment acquired 0.7% of the shares of Uplandme Inc.
This deal is part of the publisher’s strategy to invest in promising segments of the gaming market. The company intends to continue acquiring minority stakes in various studios to help them achieve their goals.
“We are impressed by Upland’s innovative vision and innovative approach. We see their rapid growth and look forward to their progress,” said Vlad Suglobov, CEO and founder of G5 Entertainment.
Upland is a blockchain game that positions itself as a metaverse platform. Now it is possible to buy, sell and exchange virtual real estate linked to real addresses in 15 US cities. In addition, players have the opportunity to build virtual businesses, communicate with other users and develop their digital possessions.
All transactions in Upland are carried out using a special UPX currency. The game itself is available on iOS, Android and as a web version for the browser.
In early November, Uplandme Inc. also raised $18 million at a valuation of $300 million.
In recent months, several blockchain games dedicated to the purchase of virtual property have appeared on the market. The Legacy business simulator from Peter Molyneux works on a similar principle. Just a few days after the announcement, users bought NFT-land for $ 53 million.