Details

What is SPARKLET

Learned by 651 usersPublished on 2024.07.24 Last updated on 2024.09.16

Tokens

1. Project Introduction
SPARKLET is the native utility token of Upland. It is an ERC-20 token that can be bridged with EOS. Ecosystem participants use SPARKLET for a variety of functions, such as building and developing properties and communities with various buildings and structures. Upland entrepreneurs and creators require SPARKLET to build shops, factories, and showrooms to facilitate their “Metaventures”. Meanwhile, partners/brands (such as FIFA, NFLPA, UNICEF, and Stock Car Pro Series) need SPARKLET for promotions.
Summary: The metaverse behind Upland's Sparklet token is a virtual property trading game mapped to the real world and based on blockchain technology. In its years of operation since 2018, it has received support from major investors like Animoca and accumulated a substantial number of real users. Currently, the Upland app has more than 1 million downloads on the Google Play Store.

2. Team & Investment Info
Dirk Lueth, Co-Founder & Co-CEO, holds a Ph.D. from the European Business School in Germany. He is the co-founder and chairman of the Open Metaverse Alliance for Web3 (OMA3) and co-founded European and US-based fintech and digital media companies, including the Financial Times Deutschland and Forbatec, which SunGard acquired (now NYSE: FIS). Dirk mentored over 30 startups through his work at international startup accelerators in Silicon Valley.
Idan Zuckerman, Co-Founder & Co-CEO, led the development and IT teams in a special tech unit of the Israel Defense Forces (IDF), served as Vice President of Engineering at Israel's largest sports news website, and later was a member of the founding team of RocketPlay, a leading mobile games developer that was subsequently acquired by AGS (NYSE: AGS). Idan also served as Vice President of Interactive Products at AGS for three years.
Funding: In October 2023, Upland completed a $7 million Series A extension led by EOS Network Ventures, with participation from existing investors Animoca Brands and C3 Venture Capital.
In December 2021, it raised $18 million in the Series A equity round led by Animoca Brands, with participation from OneTeam Partners, Block.one, Alumni Ventures Blockchain Fund, Global Founders Capital, former SoftBank managing partner Michael Ronen, Mike Vorhaus of Vorhaus Advisors, Michael Terpin of Transform Group, and C3 Management. $2 million was raised in early rounds, with participation from C3 Venture Capital and other institutions.

3. Social Media URLs
X: https://x.com/uplandme
Telegram: https://t.me/upland
Discord: https://discord.com/invite/umwJEYzPeR

4. Token Info
Token Symbol: SPARKLET
Total Supply: 1,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: https://etherscan.io/token/0x0bc37BEA9068a86C221B8bd71eA6228260DAD5A2
Token Distribution:
Development & Growth: 31%, 2.3% unlocked at TGE, no cliffs,120 months linear vesting
Incentives and Rewards: 24%, 0.1% unlocked at TGE, no cliffs, 120 months linear vesting
Ecosystem and Grants: 15%, 0% unlocked at TGE, no cliffs, 48 months linear vesting
Advisors & Supporters: 10%, 0% unlocked at TGE, 12 months cliff, 60 months linear vesting
Existing Upland Owners: 14%, 10.9% unlocked at TGE, no cliffs, 6 months linear vesting
Launch Campaign: 2%, 2% unlocked at TGE
Liquidity & Multi-chain Support: 4%, 2% unlocked at TGE, no cliffs, 12 months linear vesting

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.

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