The NFT-based sci-fi card game Parallel has made remarkable strides in the burgeoning field of NFT gaming, achieving a valuation of $500 million, buoyed by significant investments, including a substantial $50 million from the crypto venture capital firm Paradigm. This milestone underscores the increasing interest and potential in NFT gaming, a sector rapidly growing within the broader NFT ecosystem.
Parallel, built on the Ethereum blockchain, stands out for its unique blend of science fiction and realism in its artwork and narrative. The game’s storyline revolves around humanity’s desperate escape into space following a catastrophic event known as “The Event,” which was an attempt to resolve a global energy crisis. Players in Parallel are involved in collecting cards and forming decks associated with one of the game’s five factions: Earthen, Marcolian, Augencore, Kathari, and Shroud, each with its unique strengths and abilities.
One of the key attractions of Parallel is the high-quality artwork and rarity traits of the cards, making them valuable not only for gameplay but also as collectible digital assets. The game offers a variety of card types, including Units, Relics, and Effects, each with specific functions and levels of rarity from Common to Asset. The most valuable NFTs in the game, known as Assets, are particularly sought after in the secondary market.
Despite the game’s development still being in progress, with a beta version expected to launch soon, Parallel has already experienced significant trading activity. For instance, in August, the game saw nearly $105 million in transaction volume, with a “Masterpiece” card selling for $1.1 million worth of Ethereum.
Parallel’s success is also a testament to the broader potential and appeal of NFT-based gaming. With the backing of major investors and a strong community of players and developers, Parallel is poised to expand its ecosystem, potentially exploring new ventures like a TV series, similar to the Marvel Universe. This growth trajectory indicates that NFT gaming, particularly high-quality projects like Parallel, could play a significant role in the future of digital entertainment and asset ownership.
Overall, Parallel’s innovative approach to NFT gaming, combined with substantial investor confidence, paints a promising picture for the future of NFTs in gaming and beyond​.
