Diamonds Are a Girl's Best Friend! Is there anything better than diamonds? Yes, there is. Owning properties in the Diamond District. If you own real-world properties there, all the better. If not, a virtual one will do, as long as you are making a passive earning.
This leads me to this article-the latest announcement for the Upland's NYC collection was the Rare Collection of New York City Diamond District! This 5th New York City Collection was announced on 22 Dec at 11 am PT.
The Diamond District Collection
There are a total of 34 properties that satisfies the Diamond District collection criteria. These properties are located on 47th Street, between 5th and 6th Avenue.
The 19,750 UPX one-time award
As long as you own any 2 of the 34 properties, you get a one-time award of 19,750 UPX and an earning boost of 2.68x. You can read my Christmas Came Early to Upland article to have an understanding of how earning works and what's the equivalent value of UPX in USD.
Here is a quick roundup of the properties found in the Diamond District. The mint price starts from 8,060 UPX (76 West 47th St) with normal earnings of 116.06 UPX per month. 164,920 UPX (580 5th Avenue) is the highest mint price in this collection. It has normal earnings of 2374.85 UPX per month.
The 2.68 Earning Boost
Let's say you own the above 2 properties which satisfy the requirement of 2 owning properties for this collection. Then the 2.68x boost will give you monthly earnings of 6,675.64 UPX (311.05 UPX + 6,364.59 UPX).
The Yield & ROI
Let's see if we can do a simple Yield and ROI for owning these two properties in the collection:
76 West 47th St with a mint price of 8,060 UPX
580 5th Ave with a mint price of 164,920 UPX
One-time award for qualifying in the Diamond District Collection: 19,750 UPX
The cost of asset is 153,230 UPX (8,060 + 164,920 - 19,750) and the total boosted earnings per year is 80,107.68 UPX (6,675.64 * 12). This presents a Yield of 52.28%!
We'll come to Return on investment shortly. Let's look at the markup of those properties in this collection that were up for sale in Upland's secondary market after the announcement.
The lowest markup as at the time of writing was 988% for 29 West 47th St. This property was minted at 30,380 UPX and listed for sale at 300,000 UPX. There are currently only 5 properties listed for sale. This shows that the owners of the remaining 29 properties are holding for further appreciation or trade to complete other collections.
Now, we return to ROI, no pun intended. :)
Let's do a very conservative 200% markup, which I strongly believe will only last a few minutes if listed for sale in the secondary market. It'll be snapped up.
If you decide to sell these 2 properties immediately after getting the one-time award of 19,750 UPX, the ROI would be 192,730 UPX (345960 + 19,750 - 172,980). That's an immediate ROI of 111.42%. A side note here: if a buyer purchases these two properties, he or she will be entitled to collect the one-time award too.
Let's assume now that you decide to hang on to these 2 properties and only decide to sell them one year later. One year later, you decide to sell it off at a 300% markup which is still lower than current actual secondary market markups, then your ROI would have increased to 445,818.68 UPX (518,940 + 19,750 + 80,107.68 - 172,980). A whopping 257.73% return on your investment!
Okay, back to reality. Granted this is a game and not an investment. But once the property-to-USD is launched, these properties can be sold for USD. If you have read my Christmas Came Early to Upland article, you'll have noticed that the current 30 beta testers are already selling properties in USD with the highest single sale recorded at USD1,000.
Why do people look for play-to-earn games? You decide if this is a game, an investment, or both. It's simple, do your own research. Even if it's a game, you'll still need to do due diligence to ascertain if it's worth investing your time playing it, right? So, why is this any different?
Oh, by the way, did I way, did I mention that the Diamond District was a SOLD OUT collection? No worries, there are still 20 more collections yet to be unlocked.
Is the Upland Game for you?
Only you can answer that. However, if you use this referral link, then you will get an additional 50% UPX on your first purchase of UPX. Believe me, this helps a lot. And if you contact me through my Twitter link, I'll assist you with the onboarding. Information is power.
Here's my link - https://discover.upland.me/UplandDood. I'm a UCN (Upland Contributor Network) member and Joat at Upland Hub.
Disclaimer: The views and opinions expressed are those of the authors and do not necessarily reflect the official policy or position of Upland.me, the game developer.