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Paradigm-backed nft card game Parallel has raised $35 million from a group of investors to expand the universe across new platforms.
In parallel, a sci-fi nft card game, backing the ethereum blockchain and the Base Layer-2 chain, has completed another round of funding, raising $35 million from a group of investors. In a post On March 28, the game's developers said the funding was supported by Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber, among others.
The project's valuation following the funding was not revealed, although the developers said the proceedings will be used to “expand the Parallel universe through new media and platforms.” At press time, no other details were revealed.
Since its launch in 2021, Parallel has remained in open beta, offering players the opportunity to collect, trade, and interact with unique in-game assets represented as non-fungible tokens (NFTs). The game's narrative revolves around a fantasy story depicting humanity's effort to escape into space following a global energy crisis.
Upon launch, the game initially raised $50 million at a valuation of $500 million, with support from crypto startup Paradigm and other investors, according to a report. nft-sci-fi-card-game-parallel-raises-at-500m-valuation-from-paradigm/” target=”_blank” rel=”noreferrer noopener”>report from TechCrunch. However, it remains uncertain whether the project's valuation has been affected by the crypto winter of 2023, which saw a drop in the valuation of many blockchain companies.
