🎮What is Parallel? I Market Design, Mechanism Design and Token Design Explained🎮
Welcome, subscribers! Thank you for subscribing. What will be shared today and the days ahead are alpha from our Economics Design's researchers. Please keep these mails secret and do not share them with any one because these alpha are confidential. Enjoy your reading.
Parallel is a sci-fi trading card game (TCG) built in the Echelon ecosystem. The game involves augmented reality (AR) properties and a very successful NFT collection (top 10 NFT collections on OpenSEA in 2021). The native token, $PRIME, is used in the Echelon ecosystem at large, and within the Parallel TCG. Parallel is backed by Paradigm and Chad Hurley (co-founder of Youtube) among others.
$50 million funding round from Paradigm at a $500 million valuation in 2021.
Targets a huge market of TCGs that have always involved real-money-trades, and applies novel elements to it like a sci-fi storyline, AR, and p2e.
Strong NFT ecosystem even before the game details were out.
Core loop involves the 1v1 turn-based battle involving a strategic selection of cards belonging to any 1 deck and 1 Parallel (as well as a few non-Parallel universal cards).
Ladder mode will only involve PvP games and will impact player rankings. Sector mode will involve low stakes battles either against other players or against the environment.
Rookie Queue would be a player-limited free to play game-mode for onboarding new but uncommitted players onto the game. This mode will provide players with a Rookie Deck that is non-tradable. Players given this deck can then try battles with other players in the same mode with the same deck category.
The global card game market size last year was $12 billion. While TCGs involved real money trades, there was no way for developers to capture this value. Parallel solves that problem. It Primarily caters to Achiever, Socialiser, and Investor player types.
Thickness: The core Parallel NFT collection has nearly 50,000 owners with a trade volume of 65,000 $ETH ($71,306,300 at current valuation). The $PRIME token is yet to be rolled out.
There are various types of staking for tiered NFTs as well as $PRIME token that lead to token emissions and accumulation of fees. The DAO is currently voting on proposals to set this in stone. The other source of token allocation would be game-play via wins. Tiered NFTs are currently priced in $ETH but eventually they will be priced in $PRIME. $PRIME token proposal has passed r ecently and is yet to be fully implemented.
What Else Did You Miss?
Token Design - Token Value
Token Design - Financial incentives and token distribution
Why this project is interesting?
Get premium access to unlock more content