Web3 TCG Parallel Raises $35M To Fund Game Expansion

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What’s Parallel?

Parallel is a web3 TCG developed by Parallel Studios, utilising NFT-powered property and play-to-earn incentives.

The sport is about in a dystopian future the place Earth has turn out to be uninhabitable as a result of a cataclysmic occasion referred to as “The Occasion” inflicting humanity to scatter throughout house, splitting into 5 factions: Earthen, Marcolian, Augencore, Kathari, and Shroud.

Gamers acquire playing cards representing these factions and interact in head-to-head battles to combat for PRIME tokens, the utility foreign money of the Echelon ecosystem.

Parallel additionally gives varied gameplay modes that cater to completely different types of play, together with The Ladder and Sectors, and incorporates a rookie queue to offer a coaching floor for brand spanking new gamers with customizable rookie decks.

What’s going to this funding imply for Parallel?

This funding follows the latest launch of its open beta, which launched a brand new card referred to as Ghosan, Viper of Ceres, alongside gameplay changes and bug fixes.

Parallel Studios are utilizing the funds for 2 important functions. The primary is to increase consumer acquisition efforts by means of the Parallel Ambassador program, influencer collaborations and promoting campaigns.

The second is to gear as much as launch on platforms just like the Epic Video games Retailer and Steam, with cell variations in consideration.

The studio can also be engaged on Colony, an AI-powered survival simulation sport constructed on Solana. A part of this funding will to go assist the event of Wayfinder, an AI protocol with the objective to boost consumer experiences in blockchain ecosystems.

Parallel Studios goals to launch a beta model of Colony by the top of 2024, and is accelerating hiring to fulfill this growth objective.

This extra $35 million brings Parallel’s complete raised to $85 million, after a earlier funding spherical led by Paradigm, now valuing the corporate at $500 million.

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*All funding/monetary opinions expressed by NFT Plazas are from the non-public analysis and expertise of our web site moderators and are meant as instructional materials solely. People are required to totally analysis any product prior to creating any type of funding.