As you know, blockchain and NFTs allow us to own land and virtual goods, work in the online world, own personal data and control our own digital life. The Parallel is one of the projects that was born to give you the above experiences.
The Parallel is an infinite Metaverse that simulates the real world where players have the ability to create their own unique world and dynamic economic system. Not only integrated with features of Defi and P2E, The Parallel also has the Creative-to-Earn feature with limitless monetization potential and enhances community connection.
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- Parallel’s world is designed for fun and enjoyment more than casual entertainment. The project developed with a special operating model, “Enjoy to Earn” which helps users find joy with every moment of experience in the virtual environment.
- Coming to The Parallel, players can fully create materials in the metaverse world and participate in monetization, entertainment and networking activities through the Creative-to-Earn feature.
- The Parallel has 2 tokens, $PRL and $PS. While $PRL plays an governance role, $PS plays a utility role. The project’s Tokenomics is designed to be properly distributed to investors in Seed (5%), Private (14%), Public (1%) and is in the vesting phase with tokens unlocked gradually until July 2024. .
- The Parallel takes great advantage of potential team members and mentors that brought together by their talents, skills, creativity, and experience in the Blockchain and Gaming fields such as Louis Nguyen – CEO (over 5 years of experience in Blockchain and Fintech), Dau Ngoc Huy – COO (over 7 years of experience in Marketing and Branding) and advisors like Santiago R Santos (crypto investment member at ParaFi Capital) and Hung Dinh (Founder of RADA Network), etc.
- The Parallel raised a total capital of $4.3 million in a Strategic round, led by two big-name investment funds in the field of Crypto that are Kyber Ventures and Signum Capit
1. What is The Parallel?
The Parallel is a project oriented towards building an infinite Metaverse ecosystem where players have unlimited possibilities to create anything. The Parallel combines monetization, creativity, and social networking to create a universe where players can experience surprises, connect, and earn money together.
In the first stage of this ecosystem, players will play Games developed by The Parallel. After that, more games with role-playing gameplay will be integrated by other game developers. The Parallel aspires to become a gaming platform that provides users with great gaming experiences.
Ascension is the first game developed and published in The Parallel Metaverse. It is a PVP game inspired by the concept of the game Red Light Green Light. It is also a PVP game with many modes for players to join including solo, 3-player and 10-player mode.
In The Parallel, everyone contributes to the creation of value, which defines the infinity of the Metaverse.
- “Creativity” – Core values to unlock the community:
Whether a community can grow with its full potential, it depends on the individuals within it. The Parallel creates a platform and looks forward to seeing a diverse world in the player’s imagination.
- No boundaries for everything:
Users can completely create things spontaneously and build an open ecosystem.
Content creation discretion brings different values. It means they can create high-quality content that brings a lot of value to individuals or to The Parallel ecosystem.
Enjoy to Earn: Community Connection Model
- Special platform for everyone like creators, game lovers, potential investors, Gaming Studios and Entertainment companies:
“Play-to-Earn” and “Free-to-Earn” are no longer available for you to experience for yourself, so what The Parallel can open up is not just a “Game” but a completely connected world to integrate games and products on The Parallel’s platform.
- Enhancing connection:
Games and activities designed in The Parallel will give a role-playing experience to all Parallese players including users, players, investors, and game developers .
Economic system parallel to reality
- NFTs in The Parallel will allow users to own unique and exclusive items just like in the real world:
Users can buy and sell land and build infrastructure such as casinos, amusement parks, and clubs.
Users use tokens in The Parallel to rent conference rooms, host parties, or pay agencies, and even come to work.
- In The Parallel, participants can easily move their assets between the real world and the in-game ecosystem, and they can rely on groundbreaking in-game innovations to accumulate and increase their assets.
- Hydra System, a copyright protection technology, ensures the uniqueness of the player’s creativity designs in The Parallel.
- Marketing Kickoff
- NFT Box Sale
- NFT Paragon Creator
- First game: Ascension Private Sale
- First game: Ascension Alpha Version
- First game: Ascension Official Launch
- Next game: Runes Hunter Series
- SDK Integration for Game Developers & Entertainment Studio
- VR Action Integration
- Open-World Concept Art
- Selling NFT Land
- Openworld Alpha Test
- Openworld Beta Test
- Openworld Official Launch
There are 2 tokens in The Parallel.
PRL – governance token and PS – utility token.
4.1. Key metrics $PRL
$PRL is The Parallel’s governance unit and primary currency.
- Token Name: The Parallel Token
- Ticker: PRL
- Blockchain: Binance Smart Chain
- Token Standard: BEP – 20
- Contract: 0xd07e82440A395f3F3551b42dA9210CD1Ef4f8B24
- Token Type: Governance
- Maximum total supply: 1,000,000 PRL
- Total circulating supply: 26,973,193 (Updated on July 16, 2022)
4.2. Token Allocation & Vesting Schedule
- Fundraising Round of Strategic Partners: 5%; unlock 5% at TGE Lock for 6 months, Vesting for 24 months
- Private funding round: 14%, pay 10% at TGE Lock for 6 months, vesting for 18 months
- Public funding round: 1%, pay 25% at TGE, vesting in 3 months
- Advisory Board: 2.5%, 1 year course, 36 months vesting
- Team: 11.5%, 1 year course, 36 months vesting
- Reward for players when playing the game: 25%, Lock for 1 month, vesting for 36 months
- Ecosystem: 25%, 1 month course, 24 months vesting
- Marketing: 10%, Lock for 1 month, vesting for 36 months
4.3. Application of $PRL – Governance
- Currency on the Market
- Payment fees in the ecosystem
- Defi activities include: Staking, Farming, Liquidity Supply
- Rewards for participating in special events
- Minting NFTs Paragon and other assets
Users can earn $PRL through activities:
- Farming: User can deposit $PRL into Farm pool (PRL-BUSD) to earn $PRL
- Staking $PRL: To earn $PRL
- Staking NFT: Staking NFT items earned in the game to earn $PRL
- Trade: trade on the exchange to earn $PRL or trade NFT on the Marketplace for $PRL
- Through in-game activities
- Community Event: A large amount of $PRL is allocated to expand the global community. In the future, The Parallel plans to organize some attractive gifting programs to stimulate growth.
4.4. Application of $PS – Utilities
- Rewards for in-game activities
- Game entry fees for various experiences and events
- Crafting / Non-Crafting Fees NFT
- Minting NFTs Paragon and other assets
- Louis Nguyen – CEO has over 5 years of experience in Blockchain and Fintech.
- Dau Ngoc Huy – COO has over 7 years of experience in the field of Marketing and branding.
- Hung Hoang Viet is a Co-Founder of Sparta VFX.
- Peter Hamachan – CPO has over 10 years of experience in Development and more than 4 years of experience in Blockchain.
- Tony Bennett – Front End Leader has over 10 years of experience in Development and more than 4 years of experience in Blockchain.
- Harry Holmwood has 28 years of experience in the game industry and is a part of Sony’s Playstation startup team, a Co-Founder Stardew Valley, and a CEO of Magicave.
- Santiago R Santos is a Crypto investment member at ParaFi Capital fund, a Co-Founder Roca Capital, an Advisor of Synthetix (SNX) as well as an extremely reputable person on the social network Twitter with more than 76100 followers. His Twitter has even Binance’s CZ, TRON’s Justin Sun, and a bunch of major CEX exchanges following.
- Hung Dinh is a Founder of RADA, JoomlArt, DesignBold, and Vic Partners.
5.3. Backers & Partners
The Parallel raised a total capital of $4.3 million in a Strategy ound, led by two big-name investment funds in the field of Crypto such as Kyber Ventures and Signum Capital.
There are also other prestigious investment funds such as OKX, Rada, HUB Global, Coincu, UG Ventures, e
- Website: https://theparallel.io
- Twitter: https://twit
- Telegram: https://t.me/theparallelcommunity
- Telegram Vietnam Community: https://t.me/theparallel_ioVN
- Discord: https://t.co/U0ZfvVJWJS
- Facebook: https://www.facebook.com/theparallel.io
- Youtube: https://www.youtube.com/c/TheParallelAnInfiniteMetaverse
- Tiktok: https://firstname.lastname@example.org
- Substack: https://theparallel.substack.com
- Whitepaper: https://docs.theparallel.io
Hopefully, through the above article, readers have had the most general information about The Parallel project. Let’s look forward to the next article about “Basic Features of The Parallel” on GameAZ to gain more knowledge about this game!
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Disclaimer: The information on this Website is provided as an overview of the market and does not constitute financial advice. GameAZ encourages you to do more research before deciding to invest.