Why do we collect or own things? Usually it’s for one of two reasons: utility and/or pleasure. In other words, either they serve a function or we just enjoy them (each of us for our own reasons).
Virtual items and NFTs are no different. At present, some Uplanders collect properties because they are in strategic locations for treasure hunting, others collect to complete collections, others still collect so that they can flip for profit. But some collect just for the enjoyment of owning a virtual property or address in the platform that brings them some sort of sentimental value.
In the end, each Uplander chooses for her or himself how they “play” Upland. This will remain especially true as the platform becomes more complex and features like developing properties and opening in-game businesses become available.
The nature of the digital items in Upland, as non-fungible tokens on the blockchain, give rise to a concept we have come to call True Ownership.
When a user reaches 10,000+ UPX net worth, our platform automatically creates an EOS blockchain account for them. The access to this account is granted through private keys that are generated from a user’s email/password combination. We do NOT store those details on our backend.
What this means is that the only person that can access your account, and the assets within them, is YOU! Not even we can go there (which is why it is significantly more important for you to properly secure your account).
The non-fungible nature of the items, along with the influx of real money into the system (UPX coin are purchased primarily with real currency), produce an in-game market where users have a real sense of ownership. The market develops according to laws of real, authentic supply and demand.
Make no doubt about it – the items and properties may be virtual, but this economy is real!