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Friday, May 24, 2024

Upland Secondary Market USD Floor price rises to $100,000 per Metaverse Land!

Animoca BrandsUpland Secondary Market USD Floor price rises to $100,000 per Metaverse Land!

Upland Secondary Market USD Floor price rises to $100,000 per Metaverse Land!

So, the moment that everyone in the upland metaverse has been waiting for has finally come through!

The Upland Metaverse’s Secondary Market for Metaverse Land Sale in USD Fiat-out for the longest time had the price cap of $10,000/Metaverse Land.

Raising the NFT-to-USD Cap

Up until now, there have been restrictions imposed on the size of a single USD transaction in the Upland Metaverse, with a cap of $10k USD. Today Upland Metaverse announced that, they are opening up a pathway for players to transact in amounts greater than the current $10k USD cap, up to $100,000 USD! It’s their hope that this feature will enable the economy to continue maturing through the expansion of the NFT-to-USD program.

‍Some properties have incredibly high individual net worths but have been difficult to trade due to the limits placed on the NFT-to-USD program. This change should allow for more substantial trades to take place, further pushing the boundaries of the Upland economy.

Pre-Loading the USD Wallet

In order to facilitate transactions of this size, players will need to pre-load their USD wallets before completing a transaction. An attempt to purchase any property that exceeds $10k will prompt the player to begin this process.

Alternatively, players can also navigate to their profile page and select “Add Funds.” Players who wish to start a wire transfer will be emailed instructions on how to wire USD to our partners at Tillia, Inc. If a player has not yet completed the Identity Verification process, they will need to do so before gaining access to this feature.

Pre-Loading the USD Wallet
Pre-Loading the USD Wallet

Once the transaction has settled, the transferred amount will become available in the player’s USD wallet. As with all wire transfers, this process may take a few days to complete. To make a purchase over $10k, players will simply need to select the property they wish to buy and complete the transaction as normal.

We reached out to BluePrintX, an Executive at Upland.me who commented “This is a big update, I think it opens the game for new investors to get in. It can change  a lot, upland progresses slow and steady. They test changes all the time in order to do it the smart way.  I have good hopes for the game to keep growing in a positive way.”

We also reached out to ThankMeLater, a Senior Executive at Upland with over 3800 properties who commented “I don’t think this will affect me as I am not selling a lot right now. An increase of $1 Million would have been ‘fun’ but not necessary in my opinion. Except for Genesis Properties which could have benefitted from this. I think this is a chance for high-value Landmarks and collections to be sold in the Game and not off-market. I think San Francisco and maybe Manhattan are only cities that could have landmark properties that could be worth more than $10,000.”

You be the arbiter of the truth – our readers of The Metaverse Street Journal

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