Builders of the Metaverse
Spark – Upland’s Resource Token
In this chapter you will learn more about Upland’s Spark token and how it will be utilized in Upland.
- Spark Foundations
An Introduction to Spark
Spark is a resource token that was created by Upland to bring “creativity, opportunity and business savvy to the core of the Upland experience” (cf. Upland blog post). So what does that mean in detail? Well, not all details are published yet but let’s summarize the information that is currently available.
Spark is designed as a new resource (currently we only have UPX and time as resources) that will enable the process of building of inanimate objects, such as buildings, cars or statues. Technically speaking Spark is a cryptographic token on the EOS main net blockchain. If you are a crypto investor you might already heard the term called staking. Staking is a process in which you allocate a crypto token into a specific wallet for a certain amount of time and you will receive a reward for that (usually interest on the staked amount). After a fixed amount of time you will receive the tokens back into your wallet. In Upland Spark will be needed to create buildings on your properties. Players will receive building time as a reward for staking Spark. All buildings in Upland will be charged so called Spark Hours and require staked Spark tokens to initiate the building process. After the building process is complete the player will get his staked Spark back.
Spark Hours – A new resource
A Spark Hour is a unit of measurement that is needed to build something on properties. In order to achieve Spark Hours players will need to stake Spark tokens. One staked Spark equals 1,000 Spark Hours, so if a building is charged 1,000 Spark Hours to be completed you need to stake at least one Spark to start the building process which would be completed after 1,000 hours. If you stake more Spark you will be able to accelerate the building process.
If that still sounds complicated let’s take a look on an example:
Building requirement: 1,000 Spark Hours
Player 1 stakes 1 Spark: The building process will take 1000 hours until it is completed.
Player 2 stakes 100 Spark: The buildings process will only take 10 hours.
Another option to increase the building process will be to spend UPX. This might be useful for players that were not able to buy more Spark or would like to have multiple buildings being created at the same time.
The Spark Exchange
Next to staking Spark for their own properties, players will also be able to lease out Spark to other players. This will be done via the Spark exchange. This is very useful if you do not want to build anything for some time. The Spark exchange will take these Spark tokens and give you UPX as a reward. Other players will be able to lease your Spark and have to pay UPX for them. After the leasing period ends the player will automatically give the leased Spark back to the exchange which will give them back to you.
The founders of Upland mentioned that players will be able to also generate Spark via mining them. It was mentioned in the last Upland Founders AMA (Ask Me Anything) that Spark will be available in wastelands which have not yet been available for purchase. Furthermore, it was stated that a possible location of farmland would be the south of San Francisco and the surroundings of Fresno. The exact location has yet to be published.
Managing the Supply of Spark
Unlike Bitcoin, the supply of Spark tokens might not be limited. It was explained that the Upland team has created a formula which will mint new Spark tokens that is based on daily activities and demand. Similar to the UPX pools there will be two pools for managing the supply of Spark, the Community Reserve Pool and the Upland Reserve Pool. The first one shall be owned by the community and will be used to lease out Spark. The UPX gained for the leasing process will flow into the UPX community pool. The Upland reserve pool is owned by the Upland team and will be used for prizes, retention and engagement awards and promotion outside of Upland. Apart from this, not further information about the minting process is available. Still, it can be concluded that a thoroughly regulation of the Spark supply will be needed. This becomes more clear when the blog post states that it is planned to move the economic responsibility away from the Upland team to an independent authority at a later stage.
Upcoming Spark Airdrop
When Spark will be introduced into Upland existing players will receive an amount of free Spark via an airdrop. The term airdrop describes the process of sending out free crypto coins or tokens to others as a form of marketing to promote a product or service. The Upland team decided to give out free Spark to the community. Only players who have achieved the status Uplander will be eligible to receive Spark from the airdrop. However, the exact date until which a player needs to hold this status has not been publisehd yet. The amount of tokens that will be given out to a specific player will depend on the status, veterancy and engagement level. The exact amounts will be decided by the Upland team and will most probably not be announced publicly.
Mystery resource announced
While Spark is the resource for inanimate assets such as cars or buildings, the Upland team has also announced to integrate a resource for living things like plants, trees, or animals. Nothing has yet been published about this mysterious resource. It could be a similar to Spark or completely different. Since living things might have a lifecycle it is estimated that the mystery resource is designed differently.
Introducing the Spark token as a new resource is an interesting option to further develop Upland’s ecosystem. From an educational perspective it introduces new users to future financial services, such as staking and lending of crypto coins. From an investor’s perspective the Spark token offers new possibilities to earn UPX and from a gamer’s perspective Spark offers a complete new level of gameplay and player interaction that has not been there in any other game. In the end we can also speculate a lot about the mystery resource that has yet to be announced.
All in all, it will be very fascinating to follow the future development around the Spark token and to see how the Upland team manages it’s availability and growth rate.