The science fiction NFT card game Parallel, which supports Ethereum and the Base layer-2 network, has successfully completed another round of financing, raising $35 million from a group of investors. Among the investors supporting the project are Distributed Global, The Operating Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber. The funds raised will be used to expand the Parallel universe through new means and platforms.
Since its launch in 2021, Parallel has been in open beta testing, offering players the unique opportunity to collect, trade, and utilize in-game assets in the form of NFTs. The game features an engaging storyline depicting humanity's attempt to escape into space following a global energy crisis.
Following its launch, the game initially attracted investor attention by raising $50 million at a valuation of half a billion dollars, thanks to the support of the venture cryptocurrency company Paradigm and other investors. However, it remains unclear how the crypto winter of 2023, which saw many blockchain enterprises facing declining valuations, has affected the project's valuation.
This latest round of financing underscores investor confidence in Parallel and its potential to create a unique and engaging gaming universe on the blockchain. The game's developers promise to use the funds to further expand and enhance the gaming experience for their users.
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