Upland‘s virtual economy just got realer! In an announcement published yesterday, Upland has disclosed a strategic partnership with Tilia – a payment solution initially built to support the world’s largest virtual world on the internet called Second Life. The company behind Second Life, Linden Lab, built Tilia’s infrastructure as a solution for monetizing virtual economies without having to worry about the regulations that come with converting in-game currencies to fiat currencies. Upland is the first company to use Tilia Pay outside the economy of Second Life of which it was initially created to support.
The U.S. is undoubtedly the biggest gaming market in the world and the ability to legally operate in its jurisdiction is of paramount importance to any company hoping to scale. With this partnership Upland was able to closely work with teams from Tilia and Second Life to provide them with expertly feedback on how to customize Tilia to fit Upland’s strategy. Their years of experience in dealing with virtual economies worth hundreds of millions of dollars will not only help Upland steer regulations across all US states, but it will also propel the Upland economy to new heights.
We’re using this new service from Linden Lab to enable players to actually see real-world value in their digital goods in their in-game purchases. We sell properties which are based on real-world addresses, and right now we’re live in San Francisco. You can purchase those virtual properties and start playing Upland.Dirk Lueth (Co-founder of Uplandme)
Once Tilia Pay is implemented in the coming weeks, players will then be able to purchase and sell properties in the Upland game for money in the real world, further bridging that gap between virtual and reality. Couple that with blockchain’s many benefits for virtual economies and Upland becomes a world that functionally mirrors the real world in many ways except physical. Upland’s in-game currency UPX will still be the driver of the economy within the game, but it can only be bought and not sold. In order to cash out to fiat currencies players can buy properties in UPX and then sell those properties for fiat currency.
Soon, people will be able to develop their lands and develop businesses. People can make objects like virtual cars and sell them and make money. That could blur with the real world.Dirk Lueth
The Upland game is ranked one of the best games in the entire blockchain space, in 4th position. Currently, players have no way of cashing out their in-game assets and this upcoming implementation will surely attract more users to the game. Players will now be able to buy, earn, sell, and cash out in a much more complete economy. Not even Monopoly can compete with such a robust real lifelike economy.
What do you think about this partnership between Upland and Second Life’s Linden Lab, and what it means for the blockchain game? Let us know in the comments section below or on social media – Twitter, Reddit, Telegram.
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