Parallel, the NFT trading card project, has reached a significant milestone with its latest funding round. On October 21, 2021, the project announced a $50 million investment led by Paradigm, a venture capital firm co-founded by Fred Ehrsam of Coinbase. This investment has propelled Parallel's valuation to an impressive $500 million, signaling its potential to become one of the most prominent games in the NFT space.
The Rise of NFT Gaming
The NFT gaming sector has seen exponential growth, contributing substantially to the $10.7 billion in NFT sales recorded in Q3 2021. Parallel's success is a testament to the increasing popularity of gamified NFT projects, which combine collectible assets with interactive gameplay.
The World of Parallel
Parallel is set in a dystopian sci-fi universe following "The Event," a catastrophic experiment gone wrong. Humanity has splintered into five distinct evolutionary paths, each represented by a unique set of trading cards:
- Earthen
- Marcolian
- Augencore
- Kathari
- Shroud
Players can collect and trade these cards on OpenSea, though the full immersive game is yet to be released.
Key Players in NFT Gaming
Parallel joins a growing list of successful NFT gaming projects, including:
- Axie Infinity: The largest NFT game by market share.
- Plasma Bears: A pioneer in NFT gaming.
- MetaHero Universe: A rising project focused on superhero-themed NFTs.
Despite recent controversies surrounding NFT gaming, Parallel's funding and upcoming initiatives demonstrate strong potential for long-term success.
FAQs
Q: What is Parallel's valuation after the Paradigm investment?
A: Parallel is now valued at $500 million.
Q: When was Parallel launched?
A: The project launched in March 2021.
Q: Where can I buy Parallel cards?
A: Cards are available for purchase on OpenSea.
Q: What makes Parallel unique among NFT games?
A: Its rich sci-fi lore and five distinct evolutionary paths set it apart.
Q: Will Parallel release a full game soon?
A: The immersive trading card game is still in development.
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For further details, visit Parallel's official website.
Photos courtesy of Parallel.