Key takeaways:
- Upland introduces SPARKLET token on Ethereum for its virtual world interactions.
- SPARKLET will be listed on major exchanges, starting at 1 PM UTC today.
- The token supports NFT creation and platform development within Upland.
Upland is the largest Web3 immersive gaming platform and they have launched its native utility token, SPARKLET, on Ethereum. They have announced the listing of SPARKLET on several exchanges on Twitter/X.
About SPARKLET
This new token aims to facilitate interactions and value creation within Upland’s virtual world, improving its economy. The token will be available for trading on several exchanges, including Bitget, HTX, and Gate.io, starting today at 1 PM UTC.
To mark the launch, a substantial number of SPARKLET tokens will be distributed to Upland users, with 0.75% of the total supply allocated through the Bitget Launchpool. Currently, 63% of the circulating supply is held by long-term community members. Over 140,000 players already use SPARKLET for daily activities within Upland.
The introduction of SPARKLET allows users to bridge their tokens to and from Ethereum, providing the flexibility to buy or sell outside of Upland or use them within the platform. This move is expected to create more value for the Upland community.
“The listing of SPARKLET on external exchanges represents a significant step for our ecosystem. Upland will be more visible to the Web3-native audiences while our existing community will benefit from increased flexibility to obtain more SPARKLET in favor of activities inside the platform or, if they wish, to trade outside of it.” -Idan Zuckerman, Co-founder & Co-CEO of Upland
For the past two years, SPARKLET has been a key part of the Upland economy, enabling stakeholders to create and power assets within the platform. The token is essential for world-building, community projects, NFT minting, and 3D NFT manufacturing.
Upland’s tokenomics aims to foster a vibrant and sustainable ecosystem. With a total supply of 1 billion tokens on Ethereum and mirrored in Upland (EOS), the system supports development, incentives, and community grants. A dynamic vesting schedule ensures a steady token release tied to daily active wallet milestones, promoting stability and growth.
Since its launch in 2020, Upland has grown to over 3.5 million registered accounts and sees 30,000 to 50,000 daily active users. The platform has minted over 6 million NFTs, including FIFA and NFLPA NFTs, and has a unique FIAT onramp and offramp, recording over $15 million in digital asset sales. Upland now hosts more than 3,000 player-operated businesses and 300,000 unique landowners.
To round it all up
Upland’s launch of the SPARKLET token on Ethereum represents a major step forward for the platform, improving its capabilities and providing new opportunities for its community. Upland continues to lead in the Web3 gaming space with its strong focus on user engagement and ecosystem growth.
