Parallel Studios Secures $35M in Funding for Ethereum NFT Game Parallel and AI-Powered Colony
Parallel Studios, the startup behind the favored Ethereum NFT card-battler sport Parallel, has introduced a profitable funding spherical.
The funding comes from distinguished names comparable to funding administration big VanEck, Solana Ventures, the Base Ecosystem Fund, Collab + Foreign money, and The Spartan Group. The checklist of angel traders consists of Anatoly Yakovenko and Raj Gokal, co-founders of Solana, Luca Netz, proprietor and CEO of Pudgy Penguins, and Gabby Dizon, co-founder of Yield Guild Video games.
This newest spherical of funding follows Parallel’s earlier elevate of $50 million from Paradigm in 2021, which valued the studio at $500 million. Whereas the up to date valuation and the format of the latest funding spherical weren’t disclosed, Parallel Studios did share some insights into how they plan to make the most of the $35 million infusion.
The studio intends to increase its person base by onboarding extra gamers by means of the Parallel Ambassadors program and interesting influencers. Moreover, Parallel Studios has thrilling plans for the longer term. They intention to launch Parallel on the Epic Video games Retailer and Steam, in addition to introduce the Planetfall enlargement throughout the sport. Cellular variations of Parallel are additionally in consideration, though particular timelines have but to be decided.
Along with Parallel, the studio has been actively creating Colony, an AI-powered “survival simulation” sport constructed on the Solana blockchain. Colony differentiates itself from Parallel by using generative AI know-how. Funding from this spherical will contribute to the event of Wayfinder, an on-chain AI protocol that powers Colony and probably different functions and video games.
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