“Parallel Secures $35M Investment for Expansion”

Parallel, a sci-fi NFT card game, has recently secured $35 million from a group of investors to expand its universe across new platforms. The funding round was supported by Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber among others.

The project’s valuation post-funding was not disclosed, but the developers mentioned that the funds will be utilized to broaden the Parallel universe across various mediums and platforms. 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 humanity’s attempt to escape into space after a global energy crisis.

Initially raising $50 million at a valuation of half a billion dollars with support from Paradigm and other investors, it remains to be seen how the project’s valuation has been impacted by the 2023 crypto winter. Despite market fluctuations, there is optimism for the future of quality NFTs in the market.