Parallel has advanced exponentially through its launch. This NFT trading card project has gone from strength to strength, creating a solid track record in terms of financial results. On October 21 it laid out how much it had earned since launch, and revealed that it had $50 million in financing from Coinbase co-founder Fred Ehrsam through the firm Paradigm.
Parallel is on track to become one of the hottest NFT (non-fungible token) games.
A collection of sci-fi NFT cards based on the Ethereum blockchain, Parallel Alpha has been in the top 10 of OpenSea’s rankings for the past few days – and the cards only launched at the end of 2021.
First, Parallel is a “collectible card game” in early development with top-notch art. This new digital art form may play an important role in the large-scale popularization of NFT.
This new virtual team has been able to advance through the marketplace quickly compared to the other projects it has around, and even if investors have not noticed, it is a bullet among the rankings of most sold or visited in the week in different types of marketplaces, although the top one so far has been OpenSea.
Investors we’ve seen go through this project range from the co-founder of youtube, Focus LAbs, OSS Capital and Yunt Capital, these being the most recognized and highest invested. Although there are still others on the list.
What is the concept of Parallel?
For now this collection has had a buzz because of its backstory and mythology, which makes it interesting for people who like the genre of post-crisis technology development. For now it has attracted attention to make content related to the collection, e.g. books, comics, movies, etc.
For now the main plot of the project is based on the “Parallels”, who are a team of humans who have been evolving in space for many years, and are now looking to take back Earth. For now there are five different Parallels to select from: Earthen, Marcolian, Augencore, Kathari and Shroud.
And to summarize, this collection is based on the fantasy story where they tell how humans fled to space after trying to solve a global energy crisis and everything ended up in a post-apocalyptic world uninhabitable for our race.
One of the things that gives it this special touch among the different project proposals we see in the monthly or weekly top of the markets, is that Parallel’s illustration focuses much more on an idea of realism, with scientific touches. It’s not just a simple design with any meaning, it’s really well done.
The benefit of good illustration comes through the designers, who have been working with or capturing the style of DreamWorks Animation, as well as the support of major animation and illustration studios.
This NFT collection had its breakthrough in August 2021 after dropping its first pack amidst the massive increase in speculation about the NFT. Currently, Parallel’s community of followers is up to 20,000 people across all its networks and marketplace stats.
What is the structure of the cards?
Currently the collection and its NFTs have multiple levels of rarity and therefore different types of values. Among them we can highlight: Common/Common, Rare/Uncommon, Rare/Rare and Legendary/Legendary. There are also super special cards that are really very rare. Therefore they have an important value.
Currently NFTs that have more rarities, that are totally unique and create higher profits than usual, have a fairly high value on the secondary market. We can even find them at 59 ETH or about $145,000 currently.
One of the pieces from the Parallel collection, with special grading, sold very close to $100,000 thanks to collectors’ speculations. And in the meantime, we can acquire more common cards for a modest price of 0.04 ETH on main and secondary markets.
Although we can find within the community NFT collectors reselling these collectibles even for six figures, which can cause confusion to users. But then, how much is it really worth?
Well, the current backing of the project has a stipulated valuation of $500 million in total since its release in March.Therefore, the platform raised a total of more than $60 million with the half-billion dollar valuation from the Paradigm firm.
The founders of the game and card collection NFT has made this project solely to bring back the feeling of nostalgia from previous years, it all started with the idea that the project feels like you walk into a store and choose a new pack of collectibles, but even with such a small feeling, their project is one of the best valued today.
Nostalgia for card collections?
In the old days when the internet was not yet advanced enough, card collections of different games or series were quite successful, many children constantly saved up to afford this, and to this day, some Pokemon cards can have a great cost in the collectors’ markets. For example, the first edition without holographic Charizard shadow, well preserved, belonged to a 2020 auction and was sold for a total of 220,580 million dollars – so it came into the hands of the retired rapper and fan of the Pokemon saga, named Logic.
That’s what the creators of this collection want to achieve. To have the new sensation of intrigue, of not knowing what you have in your hand until you open them. All this through the NFT, the collection and its game.
The community is evolving and becoming more prosperous every day, and the best thing is that now you can play with the cards. And besides being for sale, it allows younger people to get involved in the business and bring this new world to the next generation. A dream come true for the creators.
The old times expressed in the digitality of the new.