An Intro to Inaugurals
Massive Collector’s Value
Upland is on the best way to become the largest blockchain based metaverse that utilizes a real in-game economy. In Upland you can collect very rare NFTs and one set has shown a significant increase in value since the metaverse was launched. It is also known as the EST. 2019 Collection or in short Inaugurals. Inaugurals (often abbreviated as Inaugs) represent the very first NFT properties in Upland. They were minted in back in 2019 and have similarities with other famous entities in the crypto universe. For example, in June 2017 the developer Larva Labs launched one of the most exclusive NFT series of 10,000 Cryptopunks based on the Ethereum blockchain. Cryptopunks are seen as the early version of NFTs, thus their collector’s value has been rising over time leading to an entry price of more than 35,000 USD for one Cryptopunk in 2021. Similar to the individuality of each Cryptopunk, each Inaugural is a unique NFT (defined by its address and size) and represents a piece of Upland’s history.
Inaugurals as a potential commodity
In the future rare properties in Upland will probably cost millions of UPX and Inaugurals could be used as some kind of a valuable commodity to trade. The fact that there is a total of 619 Inaugurals means there are enough of them to be used for transfers of large UPX amounts in a single property swap as swaps do not cost any UPX fees. Let’s imagine the entry price of one Inaugural is 10 million UPX. This means instead of buying a property of the other player that costs 10 million UPX (plus fees) one could just exchange one Inaugural for another property without the need to pay any in-game UPX fees. Who knows, maybe we will even see an Inaugural exchange one day? The limited supply combined together with the prestigious status of representing the very first set of NFTs in Upland are good points for Inaugurals to potentially become a commodity for very large UPX transfers in the future.
Advantages of owning Inaugurals
- own properties of the very first set of prestigious Upland NFTs
- limited supply (only 619 props) but enough to be used as a future commodity
- continuous rise in UPX value since Upland’s launch
- may increase your bargaining power future property deals
- can be used as a prestige object (build your private residence or run shop on an Inaugural property)
Inaugurals also have something in common with Bitcoin the most famous cryptocurrency of all time. While Bitcoin is limited to 21 million coins the number of all Inaugurals is strictly limited to 619 properties and will never be increased. This scarcity is a major driver for the recent price increases. Moreover, whenever a player loses access to Upland and the registered e-mail account all properties including the Inaugurals are lost as well. The rarity also implicates that it won’t be possible for most of the players to get an Inaugural. The scarcer a NFT is, the higher is usually its value. Back in 2019 the average price for an Inaugural was around 100,000 UPX. One year later the average price has already increased to approx. 200,000 – 300,000 UPX. The trend continued and the price for the cheapest Inaugural increased to 1,000,000 UPX in early 2021.
Do you want to know more?
Check out Upland Academy’s Inaugural Meta Report that is being published regularly.