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

Paradigm-backed NFT card sport Parallel has secured $35 million from a bunch of traders to increase the universe throughout new platforms.

Parallel, a sci-fi NFT card sport, 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 submit on Mar. 28, the sport builders mentioned the funding was supported by Distributed International, The Working Group, VanEck, Solana Ventures, Base Ecosystem Fund, and Amber amongst others.

The challenge’s valuation following the funding was not disclosed, though the builders mentioned that the proceedings shall be used to “increase the Parallel universe throughout new mediums and platforms.” As of press time, different particulars weren’t disclosed.

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Since its launch in 2021, Parallel has remained in open beta, providing gamers the chance to gather, commerce, and interact with distinctive in-game belongings represented as non-fungible tokens (NFTs). The sport’s narrative revolves round a fantasy storyline depicting humanity’s endeavor to flee into area following a worldwide 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, in line with a report from TechCrunch. Nevertheless, it stays unsure whether or not the challenge’s valuation has been affected by the 2023 crypto winter, which noticed valuation declines throughout many blockchain ventures.

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