Here’s How Ultra Describes Itself

“Ultra is a gaming hub that enables players, developers, and brands to discover the true meaning of freedom.” 

The Ultra gaming ecosystem has been designed as a one-stop shop for gamers around the world. Within the platform, players are able to explore a wide range of apps (including mainstream and indie games), a tournament platform, and a digital asset marketplace.

UOS is the native currency of the Ultra ecosystem, and enables players to purchase a wide selection of games, collectibles and more. It can also be used for and earned through platform activities, including staking, watching ads, referrals, and simply playing games. Unlike Web2 gaming platforms such as Steam, UOS can be transferred out of a user’s Ultra Wallet, giving users greater control over their earnings.

Ultra was founded by Nicolas Gilot and David Hanson in 2017. Ultra’s Mainnet launched in June 2021, followed by the release of the Ultra Wallet in July 2021, Ultra Games in April 2023 and Ultra Arena in August 2023. 

Risks of UOS

Like an investment in other crypto assets, there are some general risks to investing in UOS. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in UOS is subject to the following specific risks:

• Any potential success associated with UOS is dependent on its rate of adoption by users and growth of the Ultra ecosystem. Competition within the blockchain gaming space and gaming industry as a whole continues to grow. 
• Any potential success associated with UOS depends on a number of external factors, including the growth and increased adoption of Web3 gaming environments, as well as their associated assets including native currencies and NFTs.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with UOS. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The Ultra team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of UOS have no recourse to the Ultra team and developers, or Uphold if UOS declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing UOS on the Uphold Platform, Uphold performed due diligence on UOS and determined that UOS is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

• The creation, governance, usage, and design of UOS, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
• The supply, demand, maturity, utility, and liquidity of UOS.
• Marketing materials put forward by the UOS social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
• Material technical risks associated with UOS, including any code defects, security breaches and other threats concerning UOS and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
• Legal and regulatory risks associated with UOS, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of UOS.

General

Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on October 12, 2023.