Solana

Base

Parallel

<p class="is-style-lead">Paradigm-backed NFT card game Parallel has secured $35 million from a group of investors to expand the universe across new platforms.</p>
<p>Parallel, a sci-fi <a href="https://crypto.news/tag/nft/" target="_blank" rel="noopener noreferrer nofollow">NFT</a> card game, that supports the <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> blockchain and the <a href="https://crypto.news/tag/base/" target="_blank" rel="noopener noreferrer nofollow">Base</a> layer-2 chain, has completed another financing round, bagging in $35 million from a pool of investors. In <a href="https://x.com/ParallelTCG/status/1773157742095511889?s=20" target="_blank" rel="noopener noreferrer nofollow">an X post</a> on Mar. 28, the game developers said the funding was supported by Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber among others.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">$𝟯𝟱𝗠 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗥𝗼𝘂𝗻𝗱 𝗶𝗻 𝗣𝗮𝗿𝗮𝗹𝗹𝗲𝗹 𝗦𝘁𝘂𝗱𝗶𝗼𝘀 <br><br>We are excited to announce our latest funding round! Our team is thrilled to expand the Parallel universe across new mediums and platforms. // <a href="https://t.co/ZJLyFoahjH" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ZJLyFoahjH</a></p>— Parallel (@ParallelTCG) <a href="https://twitter.com/ParallelTCG/status/1773157742095511889?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 28, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The project’s valuation following the funding was not disclosed, although the developers said that the proceedings will be used to “expand the Parallel universe across new mediums and platforms.” As of press time, other details were not disclosed.</p>
<p>You might also like: <a href="https://crypto.news/parallel-studios-hypes-up-ai-powered-game-on-solana/" rel="noopener noreferrer nofollow"> Parallel Studios hypes up new AI game on Solana blockchain: ‘It pushes boundaries’ </a></p>
<p>Since its launch in 2021, Parallel has remained in open beta, offering players the opportunity to collect, trade, and engage with unique in-game assets represented as non-fungible tokens (NFTs). The game’s narrative revolves around a fantasy storyline depicting humanity’s endeavor to escape into space following a global energy crisis.</p>
<p>Following the launch, the game initially raised $50 million at a valuation of half a billion dollars, with support from crypto venture firm Paradigm and other investors, according to a <a href="https://techcrunch.com/2021/10/21/nft-sci-fi-card-game-parallel-raises-at-500m-valuation-from-paradigm/" target="_blank" rel="noopener noreferrer nofollow">report</a> from TechCrunch. However, it remains uncertain whether the project’s valuation has been affected by the 2023 crypto winter, which saw <a href="https://crypto.news/crypto-hub-blockchain-com-raises-110m-in-series-e-funding/" target="_blank" rel="noopener noreferrer nofollow">valuation declines</a> across many blockchain ventures.</p>
<p>Read more: <a href="https://crypto.news/nft-price-floor-co-founder-predicts-quality-nfts-comeback-despite-market-retreat/" rel="noopener noreferrer nofollow"> NFT Price Floor co-founder predicts quality NFTs comeback despite market retreat </a></p>

Sci-Fi NFT card game Parallel raises $35m from VanEck, Solana Ventures

crypto.news

Other articles published on Mar 28, 2024

Forecast Points to Significant Price Jumps for XRP and Stellar Lumens

Emerging Altcoins Tectum, Seedify, and Oraichain Shine with Growth Potential

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

Can BLUR Crypto Display A Tremendous Jump In Coming Sessions?

Crypto News March 27: Market Awaits U.S. Data Ripple Effect

DeFi Protocol Prisma Finance exploited for $10M

Join our free newsletter for daily crypto updates!