May 16, 2022

Raising the NFT-to-USD Cap

Up until now, there have been restrictions imposed on the size of a single USD transaction, with a cap of $10k USD. We are excited to announce that TODAY, we are opening up a pathway for players to transact in amounts greater than the current $10k USD cap, up to $100,000 USD! It’s our hope that this feature will enable the economy to continue maturing through the expansion of the NFT-to-USD program. 

Some properties have incredibly high individual net worths but have been difficult to trade due to the limits placed on the NFT-to-USD program. This change should allow for more substantial trades to take place, further pushing the boundaries of the Upland economy.

 

Pre-Loading the USD Wallet

In order to facilitate transactions of this size, players will need to pre-load their USD wallets before completing a transaction. An attempt to purchase any property that exceeds $10k will prompt the player to begin this process. Alternatively, players can also navigate to their profile page and select “Add Funds.” Players who wish to start a wire transfer will be emailed instructions on how to wire USD to our partners at Tillia, Inc. If a player has not yet completed the Identity Verification process, they will need to do so before gaining access to this feature.

Once the transaction has settled, the transferred amount will become available in the player’s USD wallet. As with all wire transfers, this process may take a few days to complete. To make a purchase over $10k, players will simply need to select the property they wish to buy and complete the transaction as normal.

Note: This feature is only available for property purchases at this time, but will be extended to all other UNFTs (BEs, Legits, Ornaments, etc.) through Metaventures in the future.

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