Parallel Raises $35M in Funding to Forge New Paths in NFT Gaming

Parallel, the innovative sci-fi NFT card game has completed a new round of funding, raising $35 million from diverse investors. The game, which leverages the Ethereum blockchain and Base layer-2 chain, announced the development in a recent X post dated March 28. 

The investment round drew support from notable entities, including Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber, among others.

While Parallel’s post-funding valuation remains undisclosed, the developers have outlined plans to use the funds to “expand the Parallel universe across new mediums and platforms.” 

Since its debut in 2021, Parallel has been accessible in open beta. It invites players to collect, trade, and interact with unique in-game assets, all represented as NFTs. The game’s rich narrative explores humanity’s venture into space as a solution to a global energy crisis, blending traditional trading card game elements with the latest digital gaming.

Gameplay and Innovations

The game introduces players to a universe where play-and-earn features are standard, set against a backdrop of interstellar exploration and societal growth. At the heart of the game are the Parallel NFTs, digital assets that define the game’s factions or “Parallels.” These NFTs are crucial to gameplay, with players building decks to compete against each other.

Parallel boasts its NFT trading cards and governance token, PRIME, on the Ethereum blockchain, aligning itself with the Echelon Prime Foundation’s new Web3 gaming ecosystem.

To play Parallel, you’ll need a complete deck from one of the Factions, consisting of 40 cards, including Faction-specific and Universal cards. Universal cards can be used in any deck. A deck can have up to three copies of a card but only one copy of any Legendary card. 

The goal is to reduce your opponent’s health from 30 to 0. Each card, a unique 3D art piece created by the game’s artists, is an ERC-1155 Digital Collectible on the Ethereum network. While owning Digital Collectibles isn’t necessary to play, it offers a chance to earn PRIME.

Towards a Broader Launch

The Parallel team heralded the open beta’s launch at the end of February, coupled with a game update that brought gameplay refinements and new content. Confident in the game’s balance and readiness for a wider audience, the developers have detailed the upcoming Open Beta Season 2: Void-forged Oath, beginning April 1 @ 00:00 UTC. 

This new season introduces a battle pass with a novel Shroud Legendary card, Argoel’s Fealty, and exclusive cosmetics and rewards. The update includes a new game mode, solutions for previously reported issues, various bug fixes, and details on pending raffles from earlier seasons.

In March, Parallel Studios also launched Colony, a survival simulation game on the Solana blockchain featuring AI technology. This innovative game has quickly caught the attention of gamers. A March 14 white paper explains that Colony seeks to enhance AI use in blockchain gaming, introducing AI agents that learn and evolve, creating distinct personalities and perspectives.