STOCKHOLM, Dec. 22, 2021 /PRNewswire/ -- G5 Entertainment
today announced the company has acquired shares in the US-based
real estate blockchain-based game Upland for USD 2 million, paid in cash.
"G5 is highly cash generative, and we are interested in
investing in promising new segments of the ever-evolving gaming
market. Within our area of expertise, G5 is constantly investing in
the development of our own portfolio of games, our publishing
platform, and our marketing tools and efforts. In areas of
expertise adjacent to G5's, we are looking for companies with a
strategic fit that we can potentially acquire. Outside of G5's
current areas of expertise, we are open to acquiring a minority
stake to expand the company's knowledge and network and help
promising new companies achieve their goals, as happened with
Uplandme Inc., where we have acquired shares corresponding to
an ownership of 0.7 percent. We are impressed by Upland's
pioneering vision, innovative approach, and fast growth, and look
forward to following their progress.", said Vlad Suglobov, CEO of
G5 Entertainment.
Upland is a metaverse platform based on real-world addresses,
allowing players to buy, collect, sell, and trade virtual
properties in currently 15 cities across the US, much like the
classic board game Monopoly. True ownership within the game
is secured on the blockchain. Players can build various structures
on top of their properties, operate virtual businesses and connect
with others in social settings. Transactions in Upland are
conducted either in UPX, Upland's in-game currency, or in
US$. Additional UPX can be bought using a credit card,
PayPal, cryptocurrencies or mobile app stores. Upland is available
on iOS, Android and the web. It can be played from anywhere in the
world.
For additional information please contact:
Vlad Suglobov, CEO, investor@g5e.com
Stefan Wikstrand, CFO, +46 76 00
11 115
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G5 joins Uplandme
Inc’s investor group
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