What is parallel?
Parallel is a web3 TCG developed by Parallel Studios, using nft-powered assets and play-to-earn incentives.
The game is set in a dystopian future where Earth has become uninhabitable due to a cataclysmic event known as “The Event” which caused humanity to scatter across space, splitting into five factions: Earthen, Marcolian, Augencore, Kathari and Shroud.
Players collect cards representing these factions and engage in head-to-head battles to fight for PRIME tokens, the utility currency of the Echelon ecosystem.
Parallel also offers several game modes to suit different play styles, including The Ladder and Sectors, and features a rookie queue to provide a training ground for new players with customizable rookie decks.
What will this funding mean for Parallel?
This funding follows the recent launch of its open beta, which introduced a new card called Ghosan, Viper of Ceres, along with gameplay adjustments and bug fixes.
Parallel Studios is using the funds for two main purposes. The first is to expand user acquisition efforts through the Parallel Ambassador program, influencer collaborations and advertising campaigns.
The second is to prepare for the launch on platforms such as Epic Games Store and Steam, taking into account the mobile versions.
The studio is also working on Colony, an ai-powered survival simulation game built on Solana. Part of this funding will go towards supporting the development of Wayfinder, an artificial intelligence protocol that aims to improve user experiences in blockchain ecosystems.
Parallel Studios aims to launch a beta version of Colony by the end of 2024 and is accelerating hiring to meet this development goal.
This additional $35 million brings the total raised by Parallel to $85 million, following an earlier funding round led by Paradigm, which now values the company at $500 million.
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*All financial/investment opinions expressed by nft Plazas come from the personal research and experience of our site moderators and are intended to be educational material only. People should thoroughly research any product before making any type of investment.
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