Why do we collect or own things? Usually it’s for one of two
reasons: utility and/or pleasure. In other words, either they
serve a function or we just enjoy them (each of us for our own
reasons).
Virtual items and NFTs are no different. At
present, some Uplanders collect properties because they are in
strategic locations for treasure hunting, others collect to
complete collections, others still collect so that they can flip
for profit. But some collect just for the enjoyment of owning a
virtual property or address in the platform that brings them some
sort of sentimental value. In the end, each Uplander
chooses for her or himself how they “play” Upland. This will
remain especially true as the platform becomes more complex and
features like developing properties and opening in-game businesses
become available.
True Ownership and Non-Fungible Tokens (NFTs)
The nature of the digital items in Upland, as non-fungible tokens
on the blockchain, give rise to a concept we have come to call
True Ownership. When a user reaches 10,000+ UPX net
worth, our platform automatically creates an EOS blockchain
account for them. The access to this account is granted through
private keys that are generated from a user’s email/password
combination. We do NOT store those details on our backend. What
this means is that the only person that can access your account,
and the assets within them, is YOU! Not even we can go there
(which is why it is significantly more important for you to
properly secure your account). The non-fungible
nature of the items, along with the influx of real money into the
system (UPX coin are purchased primarily with real currency),
produce an in-game market where users have a real sense of
ownership. The market develops according to laws of real,
authentic supply and demand. Make no doubt about it –
the items and properties may be virtual, but this economy is
real!