HomeNFTsWeb3 TCG Parallel Raises $35M To Fund Game Expansion

Web3 TCG Parallel Raises $35M To Fund Game Expansion

-


What is Parallel?

Parallel is a web3 TCG developed by Parallel Studios, utilising 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” causing 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 various gameplay modes that cater to different styles of play, 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, alongside gameplay adjustments and bug fixes.

Parallel Studios are 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 gear up to launch on platforms like the Epic Games Store and Steam, with mobile versions in consideration.

The studio is also working on Colony, an AI-powered survival simulation game built on Solana. Part of this funding will to go support the development of Wayfinder, an AI protocol with the goal to enhance user experiences in blockchain ecosystems.

Parallel Studios aims to release a beta version of Colony by the end of 2024, and is accelerating hiring to meet this development goal.

This additional $35 million brings Parallel’s total raised to $85 million, after a previous funding round led by Paradigm, now valuing the company at $500 million.

Want more? Connect with NFT Plazas

Subscribe to our Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.



LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Crypto analyst says ‘flash crash likely’ as 24-hour liquidations hit $618M

A crypto analyst warned there was a high likelihood of a “flash crash” after the broader crypto market clocked significant gains over the past...

South Korea’s brief martial-law showdown: What U.S. investors need to know

Investors weathered a geopolitical whirlwind on Tuesday — with a declaration of martial law by South Korea’s president sparking flows into haven assets, sinking...

Regina Reviews Fableborne Season 3 on Ronin

Regina tries out a dark fantasy RPG blending immersive lore, strategic decision-making, and cutting-edge tokenomics, such as the “Play-to-Airdrop” model. Quick Recap from Immortal...

Best Meme Coins to Buy Today Tuesday, December 3 – Tokenfi, Dingocoin, Chinese Doge Wow

Join Our Telegram channel to stay up to date on breaking news coverage Investment opportunities often come from the most unexpected places. In cryptocurrencies, meme...

Most Popular