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Editors note:
On August 20, an NFT card game called Parallel topped the OpenSea trading rankings with a trading volume of 1,912 ETH in the past 24 hours, beating CryptoPunks, BAYC, Pudgy Penguins and other big IPs.
Odailys query found that the recent surge in the transaction volume of this game is largely due to the frenzied sweeping of goods by institutions.Metavestor.ETHOdailys query found that the recent surge in the transaction volume of this game is largely due to the frenzied sweeping of goods by institutions.0x917b3aca2142dd136fa106229990ea4d02763a83first level title
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Parallel.life is a collectible card game (TCG) based on science fiction. The game has not yet been launched, and the specific game mechanism is unclear. The design of the token is quite unique. On the one hand, it is the NFT of the token, and on the other hand, it is the divestiture of governance rights and equity. From these two points, the project has its own novelty, and the specific implementation method depends on the economic model announced later. However, the risk point to be considered is that the liquidity of NFT may be relatively poor compared to tokens. There are 9 team members, including YouTube co-founder Chad Hurley. The project NFT does not circulate much in the market, and the sales data is not bad.
Team: Parallels initial team members consisted of 8 people. YouTube co-founder Chad Hurley announced in March 2021 that he would be the ninth member of the team. The background image of his Twitter account was also replaced with Parallels NFT.
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Figure 1 Chad Hurley Twitter account
Funding: A new encryption fund, Yunt Capital, has invested in the game and became a partner, but the specific amount has not been disclosed, and the background of the fund is currently unknown. Judging from the NFT public sales data, the team has currently received approximately US$2.66 million in funding, see below for details.
game mechanics
Parallel is a TCG card game based on science fiction. This type of game is based on collecting cards. Players purchase and collect cards, and then use different cards flexibly to construct a set that meets the rules according to their own strategies. card, play the game. The background of the game is that human elite genes eventually evolved into five races in the process of migrating to space, that is, five characters in the game: Earthen, Marcolian, Augencore, Kathari, Shroud, as shown in Figure 2, each character has different functions ,As shown in Table 1. In addition to the above five roles, the game cards also include Universal (universal card) and Unknown Origins (purpose and function unknown).
Figure 2 Role and corresponding Odaily (Parallel)
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Players need a 40-card suit for 1V1 battles, which will consist of a single Parallel game card and a Universal card. The game is not currently online, and the specific game rules are not clear for the time being, and the current NFT is the α version. In order to ensure the balance of the gameplay, the following character skills will not be written into the NFT for the time being, and the follow-up β and other versions are expected to add life. , experience value, stamina value, etc.
product
Parallels current product focus is NFT, and each NFT is created according to the characteristics of the character. There are currently a large number of cards, and the card types are as follows:
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Taking the [The First Son of Mars] card as an example, we can see that in addition to the main pattern, the card also includes the following four elements:
Figure 3 The First Son of Mars[SE]
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Practical function cards refer to game cards with playability. Parallel standard game card card rarity is divided into Common, Uncommon, Rare, Legendary, and Prime. Each rarity corresponds to a different graphic and text dividing line and QR code color , as shown in Figure 4. Therefore, when users judge the card rarity, they mainly distinguish it by the color of the QR code. Among them, the Prime card is very rare, and the release number may be less than 10. Because the card is more powerful, for the sake of game fairness, this card is prohibited from participating in the qualifying match. The way to get this kind of card is to participate in the pre-sale, event giveaway or booster pack (similar to blind box) sale and drop randomly.
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In addition to the above five rarity cards, there are also some non-standard rarity cards, such as SE and PL. These two versions of the cards have the same functions as the standard cards, but are slightly different in the release version or artistic expression. Take Figure 4 as an example. The color of the QR code of the SE version is in laser form, and the color of the QR code of the PL version is red.
Figure 5 Different versions of GAIAS CALL cards
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Non-practical function cards include Card Back, Concept Card and Asset Card (Prime Key, Catalyst Drive). The QR codes of Concept Card and Asset Card are uniformly white. Although the card back is a game card, it has no practical function in the game. Loyal players may want to choose their own Parallel card back, or a card back with special animation; the concept card is a collection of artwork, and its value may be determined by The degree of exquisiteness of the card production or the issue version is determined; the asset card is a special type of NFT, and the Prime Key is a governance-type NFT. Holders of this card can participate in the creation of proposals and votes, or burn the Prime Key to redeem the corresponding Proportional PRIME tokens, the burned Prime Key will become a red collection card without any function. The future token economic model of the project may be determined by this card, which can be obtained through airdrops, secondary market purchases or supplementary packages Purchase; Catalyst Drive needs to be used in combination with Prime Key, with a total of 150 cards, and its gameplay has to wait for the official follow-up announcement. The way to obtain it is to purchase it in the secondary market or purchase a supplementary pack.
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Another special non-practical function card in Parallel is Masterpiece. This card does not have a QR code, and there is only one issued version. Hold this card to get the corresponding type of card (such as standard card, SE or PL) in the secondary market 1% royalty on resale, payable quarterly. The card can be obtained through pre-sale, secondary market purchase or booster pack purchase.
Figure 7 Masterpiece corresponding card
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Card fun
Parallel released the Alpha card pack for the first time on March 25, 2021. This pre-sale includes 15 types of game cards, 5 types of Card Back, and 8 types of concept cards. These game cards are also known as PS15. About 256 participants participated in the pre-sale, and a total of $1.3 million was sold.
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Figure 8 PS15 initial pre-sale type
Since then, the team found that these cards were overpriced. In order to compensate PS15 holders, the team conducted an airdrop compensation plan in May. This airdrop included Prime Key, SE version game cards (including rare cards) and card backs. The detailed data is as follows :
On July 31, 2021, Parallel conducted its first booster package airdrop (sale). /0.2 ETH), the more expensive the card pack, the greater the chance of obtaining rare cards, and it includes concept cards, Prime Key, Masterpiece, Catalyst Drives, the total number of card packs is 13,813, and the final sales data is as follows:
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Figure 9 Sales of card packs
The team expects to conduct the third and fourth NFT issuances at the end of October 2021 (or early November) and January 2022 (to be determined), and the distribution method will be changed to supplementary package sales.
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As of August 16, Parallel’s sales data on Opensea.io shows that the number of Parallel NFT holders has reached 6,000, and the cumulative transaction volume is 13,445 ETH. Based on the current price of 1 ETH=$3,297, the value is about 44.33 million U.S. dollars. The 23rd on the Opensea NFT Top list, the sales data is relatively impressive, and the peak sales period is mainly concentrated in the past month.
Figure 10 Parallels secondary market sales history in the past 30 days, and the statistical time is August 16, 2021
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Judging from the sales data in the secondary market, the price of NFT has a greater relationship with the rarity and number of releases of the card. The higher the rarity, the fewer the number of releases, the higher the price. One of the rare Prime cards [The Priming] The last transaction history (March 27, 2021) was 26 ETH, and the latest pending order was 2,000 ETH; the earlier transactions of Masterpiece were recorded at 1~5 ETH, and most of the current pending orders start at 90 ETH; the latest transaction price of Catalyst Drives ( August 10) was 35 ETH; the latest transaction price of Prime Key (August 10) was 7.19 ETH.
economic model
From the perspective of project layout (Figure 12), Parallel is an ecological chain driven by games as the core. The more important sectors are game development, DAO governance, token economy and NFT sales. In the future, it may derive skins, land auctions, animation, The release of books, etc., however, it may be too early to say these.
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project layout
The current relatively certain points are:
Holding Prime Key means holding tokens, and Prime Key holders can participate in Parallels community governance. Parallel has a Paradox community voting mechanism. Prime Key holders can create proposals and vote, one key=one vote; Prime Key holders can also choose to burn the card to redeem the corresponding proportion of PRIME tokens. How to balance The relationship between governance and equity depends on the teams follow-up methods; the first batch of Prime Keys totaled 1,500, and the final circulation was about 1,000. Based on the latest transaction price of 7.19 ETH in the secondary market, the market value of full circulation is about 32.7 million US dollars.
Masterpiece is the most direct profit method in Parallel. The holder can obtain 1% of the copyright fee when the corresponding game card (standard card, SE, PL) is resold in the secondary market and is distributed quarterly. Therefore, its revenue may depend on the number of releases and popularity of the corresponding type of game card. Another point is that the copyright fee is set at 10%, of which 5% is allocated to the community pool, 4% is allocated to the development team, and 1% is allocated to Masterpiece holders.
Catalyst Drives need to be activated by Prime Key to use, and the specific gameplay still needs to wait for the official announcement, which may be the key to balancing equity and governance. The total number of cards is 150. Based on the latest transaction price of 35 ETH in the secondary market, the market value of the full circulation is about 16.35 million US dollars.
From the perspective of the economic model, Parallel’s current products are all realized by NFT, including project governance, which is essentially token NFT, and its governance rights and equity are separated. How to balance the relationship between the two may depend on Catalyst Drives, so Parallels token economy design has its own uniqueness.
From the current point of view, Prime Key may be a better investment channel for this project, but the risk point to consider is that the liquidity of NFT may be relatively poor. Moreover, the team issued about 70,000 NFT cards, but currently there are only more than 200 cards in circulation in the market, which means that most of the cards may still be in the hands of the original holders, which also means that they may be more interested in this project.
Overview
Judging from the information disclosed so far, the project may be a TCG card game. The game development has just started, and the game mechanism is not yet clear, so we cannot judge the playability of the game. However, the participation threshold of card games may be high, and the game audience is relatively narrow, but this kind of strategic game will also increase user stickiness accordingly, and the game life cycle will be relatively long. Moreover, the background setting of this game is sci-fi, with distinctive racial characteristics, and has the potential to form an IP.
Judging from the production process of the cards currently on sale, the teams art is relatively good, and the cards are exquisitely produced. NFT combined with augmented reality (AR) endows the cards with collection value to a certain extent; from the perspective of the complexity of the card design, this This game is likely to be a medium-to-large game, and the difficulty of game design lies in the balance and restraint between card playing methods. Since the personal resumes of the team members have not been made public, we have no way of knowing the level of the design team. Judging from the participation and support of YouTube co-founders, the project team will not be bad.
The complete economic model of Parallel has not yet come out. Judging from the current published information, the design of its token mechanism has its own uniqueness: First, how to balance the relationship between governance and equity divestiture may be more important Second, another notable feature of Parallel is the NFT of tokens, which highlights the novelty of the project, but one risk that should be considered is that the liquidity of NFT may be relatively poor compared to tokens. Of course, when we evaluate a project, the most important point is to see how closely the token is integrated with the game, so as to determine the value of the token. For an early project, this point may not be judged.
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