Sci-Fi NFT card game Parallel raises $35m from VanEck, Solana Ventures

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Paradigm-backed NFT card recreation Parallel has secured $35 million from a gaggle of traders to develop the universe throughout new platforms.

Parallel, a sci-fi NFT card recreation, that helps the Ethereum blockchain and the Base layer-2 chain, has accomplished one other financing spherical, bagging in $35 million from a pool of traders. In an X post on Mar. 28, the sport builders stated the funding was supported by Distributed International, The Working Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber amongst others.

The missionโ€™s valuation following the funding was not disclosed, though the builders stated that the proceedings will probably be used to โ€œdevelop the Parallel universe throughout new mediums and platforms.โ€ As of press time, different particulars weren’t disclosed.

Since its launch in 2021, Parallel has remained in open beta, providing gamers the chance to gather, commerce, and have interaction with distinctive in-game belongings represented as non-fungible tokens (NFTs). The sportโ€™s narrative revolves round a fantasy storyline depicting humanityโ€™s endeavor to flee into area following a world power disaster.

Following the launch, the sport initially raised $50 million at a valuation of half a billion {dollars}, with assist from crypto enterprise agency Paradigm and different traders, based on a report from TechCrunch. Nonetheless, it stays unsure whether or not the missionโ€™s valuation has been affected by the 2023 crypto winter, which noticed valuation declines throughout many blockchain ventures.

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