The New York Stock Exchange!
Christmas is over, and everyone has opened their presents. So now we’re giving Uplanders the opportunity to give themselves a little something special for the holidays. A property that will ensure it’s owner is starting 2021 off on the right foot.
Get ready, because we are auctioning one of the most prominent, historical, and financially powerful pieces of property in the entire metaverse! Some call it the center of the financial world, it is THE symbol for Wall Street and now, it can be yours.
“The New York Stock Exchange (NYSE, nicknamed “The Big Board”) is an American stock exchange at 11 Wall Street in the Financial District of Lower Manhattan in New York City. It is by far the world’s largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately US$169 billion in 2013. The NYSE trading floor is at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. An additional trading room, at 30 Broad Street, was closed in February 2007. The main building and the 11 Wall Street building were designated National Historic Landmarks in 1978.”
The NYSE is not just one of the most famous and meaningful structures in Manhattan. In Upland, it is also a part of the Wall St Ultra-Rare collection, as well as the Financial District Exclusive collection netting a potential earnings boost of a whopping 2.8X. At 341 UP2 size, had it been a non-landmark unminted property, the standard premiums calculated for a property of these characteristics would establish a mint label price of 4,910,400 UPX.
Previous landmark auctions (Pier 39, Ferry Building and Trump Tower) have established a landmark market premium curve ranging from 300% at the lower base prices to 10% at the higher end. Situated at the mid-high range, we expect the premium perceived for the NYSE landmark to be at least 65%, resulting in a suggested minimum mint price of 8,102,160 UPX.
If you’ve participated in an Upland auction before, this auction process will be completely different. This time, we’re utilizing a reverse auction, where the price starts high and goes down over time. Additionally, the auction will be live in the app: as we decrease the price, any player can mint the property live in Upland. We will still announce the price updates in our Discord #Auction channel.
- The auction will go on for 3 days, starting December 28th 12pm, and ending December 31st at 12pm (noon, PT).
- We will start the bidding at 25,000,000 UPX.
- The first 6 price reductions will be by 2,000,000 UPX. The next 4 price reductions will be by 1,000,000 UPX. The final price reduction will be by 897,840 UPX.
Monday we will reduce the price at 3pm (23 million) and 6pm (21 million).
Tuesday we will reduce the price at 8am (19 million, 1pm (17 million), and 6pm (15 million).
Wednesday we will reduce the price at 8am (13 million), 1pm (12 million), and 6pm (11 million).
Thursday we will reduce the price at 8am (10 million), 10am (9 million), and the final price reduction will be at 12pm noon ( 8,102,160 UPX).
- If the minimum mint price of 8,102,160 is not met, we will close the auction without selling the Landmark and it will remain on the market for minting at the suggested price. But don’t hold your breath for the price to go this low, because this is a highly coveted piece of real estate.
- Remember, the returns from the property are based on the initial mint price.