Quick take:

  • The round attracted participation from Distributed Global, VanEck, Solana Ventures, Big Brain Holdings, Synergis and Spartan Group, among others.

  • The announcement comes barely a month following the game’s launch on open beta at the end of February. 

  • Parallel previously raised $50 million in a funding round led by Paradigm.

Blockchain-based sci-fi card game Parallel has secured a $35 million funding round from multiple investors. The fundraising attracted some of the biggest names in Web3 funding including Distributed Global, VanEck, Solana Ventures, Big Brain Holdings, Synergis and Spartan Group, among others.

Notable angel investors in the round included the likes of Rajgokal, Dingaling, Loopifyyy and Gabusch.

According to the company’s announcement on X, Parallel plans to use the fresh capital to “expand the Parallel universe across new mediums and platforms.”

$𝟯𝟱𝗠 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝗥𝗼𝘂𝗻𝗱 𝗶𝗻 𝗣𝗮𝗿𝗮𝗹𝗹𝗲𝗹 𝗦𝘁𝘂𝗱𝗶𝗼𝘀 We are excited to announce our latest funding round! Our team is thrilled to expand the Parallel universe across new mediums and platforms. // pic.twitter.com/ZJLyFoahjH

— Parallel (@ParallelTCG) March 28, 2024

The company did not disclose the pre-or-post funding valuation. Parallel previously raised $50 million in a funding round led by Paradigm, which valued the NFT gaming studio at $500 million.

The latest fundraise comes barely a month after Parralel launched on open beta at the end of February. The beta version introduced a new Universal Legendary card called Ghosan, Viper of Ceres, accompanied by exclusive cosmetics and additional rewards.

Other updates included in the beta were adjustments to PRIME emissions, replication cost reductions, apparition crafting adjustments and several bug fixes, the company said.

Parallel describes its Sci-fi NFT card game as “a competitive card game where players build decks and face off, bank energy, and build armies to decide the fate of humanity.”

According to the information contained in the open beta announcement, the game features four different card classifications, including common, uncommon, rare and legendary, all with varying crafting costs, where common, costs the lowest and legendary the highest.

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The post Parallel Secures $35M Funding Round for Sci-Fi NFT Card Game appeared first on NFTgators .