Upland Players Will Be Able To Sell Owned Virtual Properties for Real-World Currency
SAN FRANCISCO–(BUSINESS WIRE)–#DigitalProperty–Blockchain game developer Uplandme, Inc. (“Upland”) and Tilia Inc. (“Tilia”) today announced that they have entered into an agreement to use Tilia Pay to monetize activities in the Upland virtual property trading game. A wholly-owned subsidiary of Linden Research, Inc. (“Linden Lab”), the creator of Second Life, Tilia is a registered money services business and licensed money transmitter. Upland represents the first signed third-party customer for Tilia, and the agreement enables Upland players to trade virtual properties for real-world (fiat) currency in the in-game marketplace in compliance with money transmission regulations in the U.S.
“We strongly believe that the future of games and digital property is true ownership; giving players full control over the digital goods they spend time and money acquiring and allowing those goods to retain value in a fair and open marketplace,” said Idan Zuckerman, co-founder of Upland. “This partnership helps us fulfill that true ownership promise.”
Available cross-platform via browser or as free, downloadable native apps for iOS and Android, Upland is a virtual layer mapped to real-world addresses – currently throughout San Francisco, and soon rolling out to other cities and regions. Upland’s use of unique or ‘non-fungible’ tokens enables true ownership of the game’s properties, allowing players to sell or trade their digital purchases.
Developed over several years to enable monetary functions within Second Life, the leading 3D virtual world platform for entertainment and business, Tilia provides services and infrastructure in compliance with U.S. regulatory requirements, including anti-money laundering, sanctions monitoring, and fraud prevention, enabling users to profit from their digital goods. As Tilia’s first third-party customer, Upland worked closely with the Tilia and Second Life teams to provide feedback and help shape the Tilia offering.
“We’ve been working with Linden Lab and Tilia for months to make this a reality, and it’s been a real pleasure to partner with a forward-looking team that truly understands gaming and has such deep experience with virtual worlds,” continued Zuckerman.
“It’s great to work with a partner like Upland that shares our vision for real in-game economies and true ownership,” said Aston Waldman, Tilia CEO, and CFO of Linden Lab. “We appreciate Upland’s vision to introduce the benefits of blockchain into the mainstream and shake up the way digital goods ownership is handled in games.”
Tilia Pay will be implemented into the Upland game in the coming weeks, enabling players to sell their owned virtual properties for real-world currency in the in-game marketplace. To join the Upland open beta, go to the web, or download either the free iOS or Android app. To learn more, please visit https://upland.me/.
About Linden Lab
Linden Lab develops platforms that empower people to create, share, and benefit from virtual experiences. Founded in 1999, the company first launched Second Life, the groundbreaking virtual world enjoyed by millions around the globe, in 2003, which has since gone on to boast nearly two billion user creations and a vibrant $500 million (USD) economy. For more about Linden Lab, its products, and career opportunities, visit its website.
Tilia Inc. is a registered money services business and licensed money transmitter in the U.S. Tilia’s product Tilia Pay powers virtual economies and provides secure transactions at large scale. Tilia is a wholly-owned subsidiary of Linden Research, Inc. For more information, visit https://www.tiliapay.com/.
About Uplandme, Inc
Uplandme, Inc. was founded in 2018 by serial entrepreneurs Dirk Lueth, Idan Zuckerman, and Mani Honigstein. The company is based in Silicon Valley and develops the game Upland. The company’s mission is to empower mass markets with ‘true ownership’ of digital assets in an open economy via blockchain technology and creating gamified experiences at the intersection of the real and virtual worlds. Upland launched a closed beta in June 2019, gaining early adopters worldwide. The new open beta version can be joined at https://upland.me/.
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Tilia and Linden Lab Media Contact
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