Welcome to Upland
The Role of Properties
In this chapter you will learn more about the functions of properties and how to buy, sell and trade them.
- The Role of Properties in general
- Explanation of the FSA
- How to buy, sell and trade Properties
The Role of Properties
Properties are one of the most important aspects in regards to each of Upland’s three gameplay pillars (play, earn, collect). To a certain degree, properties can be seen as a virtual counterpart of real-world properties. One of the factors that define the value of a property is the location. For example, properties in a financial district will usually be more expensive than the ones located in the sub-urban areas.
The role of properties will be getting more complex over time. In the current state of Upland properties are only items that can be bought, sold and traded amongst players. Depending on the supply and demand, each property will have a market price that could be either higher or lower than the original minting price. Each property currently enables the owner to receive a rent of 17.3% p.a. based on the initial minting price. The basic rent can be boosted by completing collections. As for now one could conclude that unique and special properties might be seen as a store of value while others (e.g. small and common ones) will be more on the speculative side in terms of Upland’s economy.
Property development was announced in early June 2020 implying that a future update will allow players to develop their properties. Players will be able to build houses and shops on their properties to increase its value. The size of a property (measured in UP2) will be a factor for that will define the maximum number of passengers that fit into a shop. Furthermore, decorative items will enable the owner to enhance the visual appearance of a property.
Neighbourhoods will be rated by certain criteria and the ones with a high rating might recive a higher multiplicator for the rent. The exact release date of property development has yet to be published by the Upland team. A sneak preview can be seen at the address of the city hall located at “1 DR Carlton B Goodlet PL” in San Francisco. It is also marked on the in-game map.
What is the FSA?
With a growing playersbase Upland had faced the problem that all of the cheapest properties in San Francisco were sold out so that the price for the cheapest available property was continuously rising. In August 2020 the founders decided to create the Fair State Act (FSA) to help new players finding affordable properties.
The FSA is predefined status for properties and only allows players with Visitor or Uplander Status to buy them (= net worth below 100k UPX). Every city will have a certain amount of properties that are reserved for new and low level players. With the implementation of the FSA all cities of Upland will be put into one out of three categories. Each category implies the respective percentage of properties that are affected by the FSA:
- High End (about 15% of the low cost property designated for FSA)
- Middle Tier (about 50% of the low cost property designated for FSA)
- Affordable (about 75% of low cost property designated for FSA)
The FSA is a much needed function that gives new players a chance to buy properties in areas of high demand. Players with the Uplander status may buy such properties for a cheap price and then sell them on the marketplace for a margin.
You can easily identify FSA properties as the abbreviation is directly visible on the map. Here is a screenshot to show how the tags look like in Upland:
Example of FSA properties (here: Fresno)
Every city in Upland will lots of very iconic buildings that we know from the real world. As the game is smashing the boundaries between the real and virtual world, some of those iconic buildings will play a special role in Upland and will be branded as landmarks. It was announced that there will be approximately 25 Landmarks per city, but the amount will vary depending on the size of a city. The very first landmarks were introduced in San Francisco and decided by the community via a voting challenge.
Why are landmarks special?
Landmarks are very recognizable in the real world which is a fact that will be implemented into Upland. Therefore, the Upland team has decided that each landmark “will always keep their unique original facade”. Once the property development upgrade has been implmented players will be able to build a 3D version of the real world landmark. It will be amazing to see these iconic buildings such as the Painted Ladies in San Francisco or (most probably) the Empire State Building in New York City. Properties that are landmarks will have a tag on them that becomes visible once you click them. This type of highlighting is similar to other special properties (e.g. very rare colletions or special challenges). It was also announced that once a landmark is built it will be featured with a special pin directly on the map. This was explained in a blog post regarding New York City landmarks, thus it is estimated that this mechanism will also be available for San Francisco.
When it comes to utilizing landmarks their owners will be able to use them as their private residence or use them as a business opportunity after the business development update is finished. Both topics will be explained in detail in advanced courses.
How to buy a Property with UPX
At first, we need to differentiate between unminted properties and player-owned properties.
Buying unminted properties
In order to be able to buy an unminted property, you will have to bring your block explorer within its discovery range. To do so you can either wait for the block explorer to arrive in the area or by jumping to a nearby property. If there is no property nearby you have to send your block explorer to the closest property you can find and then “force” it to move into the desirection. This is more of a try and error process where you have to be lucky to move into the right direction by sending your block explorer to a property mulitple times. As the movement is random you might consume a couple of sends to succeed.
Once the property is inside your block explorer’s discovery radius, the property color will change from grey to lime green. Now you can click on the property and then click on the “BUY” button. This will open a new window asking you to confirm the purchase. A click on the confirmation symbol will open a short animation that states that you have taken ownership of the property. The blockchain will now finish the ownership transaction which might take up to a couple of minutes. Afterwards the color of the property will change to blue, indicating that the ownership has been transferred to your account.
How to sell a Property for UPX
The most common way to sell properties is to list them on the official marketplace. All dark green properties on the map are properties that are purchasable from this secondary market.
To sell a property you can click on it directly on the map or select it from your property menu (main menu and “PROPERTIES”). Afterwards click on the “SELL” button which will now open a window in which you can set the sales price in UPX. Both the buyer and the seller each pay 5% commission of the sales price. This commission will flow into the UPX community pool. Below the entry of the sales price you can also enter if you would like to also receive UPX offers or property offers.
Apart from the secondary market you could also negotiate with other players (e.g. on Discord) and they can send you a direct offer. Direct offers are good if you do not want to list your property on the secondary market. To view offers from other players go into the main menu and click on “MESSAGES”.
Be careful with the “ACCEPT” and “DENY” buttons as they are close to each other. Some users have already accidently sold expensive properties for a cheap price by missclicking or not reading offers carefully.
How to trade Properties
(making direct offers)
You can send your offers to other players by selecting the desired property and then clicking on the “OFFER” button. Afterwards you will need to select if you like to trade for UPX or another property in exchange for the other players property. When all the settings have been defined click on “MAKE OFFER” to send an offer to the current owner.
Escrow system for direct UPX offers
All direct offers for UPX are managed by Upland’s escrow account. As long as an offer is not accepted or denied by the owner of the property or as long as you do not cancel your offer the UPX amount will be locked into an escrow account. You can check all of your sent offers in the tab called “SENT OFFERS” in the properties menu (quick menu and then “PROPERTIES“). It is suggested to check your offers from time to time because there might be players that are not accepting or declining your offers so the UPX will remain in the escrow account.
Step 1: Choose desired property and click on OFFER
Step 3: Confirm your offer (UPX will be sent to escrow account)
How to remove direct offers
You can remove your direct offers at any time by clicking on the property and then on “OFFER”. In the next window you will be asked if you really want to remove your offer. You could also do this in the “SENT OFFERS” tab described in the previous paragraph.
In case there are unknown terms in this article, please take a look at the glossary, which will be updated regularly. If you have any questions, feel free to message me on Discord.