Parallel, a sci-fi NFT card game, secures $35m in funding from Solana Ventures and VanEck.
Parallel, a science fiction NFT card game supported by the Ethereum blockchain and the Base layer-2 chain, has successfully raised $35 million in funding from a group of investors. The funding round was backed by Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber, among others. The exact valuation of the project following the funding was not disclosed, but the developers stated that the funds will be used to expand the Parallel universe onto new platforms. Additional details about the funding round have not been revealed at this time.
Since its launch in 2021, Parallel has been in open beta, allowing players to collect, trade, and interact with unique in-game assets represented as NFTs. The game’s storyline revolves around a fantasy narrative that portrays humanity’s quest to escape into space after a global energy crisis.
According to a report from TechCrunch, Parallel initially raised $50 million at a valuation of $500 million with support from crypto venture firm Paradigm and other investors. However, it is unclear whether the project’s valuation has been affected by the decline in valuations across the blockchain industry during the 2023 crypto winter.
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