What is the most popular NFT game, Parallel Life?

Article title: Parallel Life Research & NBSP;

Source: First class

Simplified interpretation:

Parallel. Life is a science fiction based collectively-traded card game (TCG). The game is not available yet. Token design is unique. On the one hand, token & NBSP; NFT  From these two points of view, the project has its own innovation. The specific implementation method depends on the economic model published in the later stage, but the risk point to be taken into account is that the liquidity of NFT may be relatively poor compared with that of tokens. With a team of nine, including YouTube co-founder Chad Hurley, the project's NFT has had little circulation in the market, and sales figures are good.

Fundamentals

Team: Parallel's original team consisted of eight members. YouTube co-founder Chad Hurley announced in March 2021 that he would become the ninth member of the Team, and his Twitter background image changed to Parallel's NFT.

Photo 1 Chad Hurley twitter account

Also disclosed is Connagh Hawkins of the design team, a YouTube blogger turned Parallel full-time game designer who has 157,000 subscribers to his channel [Merchant] and previously worked for Jagex studio [Chronicle: Legend: QA analyst and community manager for a game that is probably second only to World of Warcraft in popularity. Most of the rest of the team came from unknown backgrounds.

Money: A new crypto fund, Yunt Capital, invested in the game as a partner, but the amount was not disclosed. The background of the fund is unknown. According to NFT public sales data, the team has received approximately $2.66 million in funding, as detailed below.

Game mechanics

Parallel is a TCG card game based on science fiction. This kind of game is based on collecting cards. Players buy and collect cards, and then flexibly use different cards according to their own strategies to build a set of cards that conform to the rules and play the game. The background of the game is that during the migration of elite human genes into space, they eventually evolve into five races, namely the five characters in the game: Earthen, Marcolian, Augencore, Kathari, and Shroud, as shown in Figure 2. Each character has a different function, as shown in Table 1. In addition to the above five characters, the game's cards include the Universal card and Unknown Origins.

Figure 2 Characters and corresponding planets

Table 1 Roles and skills

Players need a set of 40 cards to fight 1V1 battles, which will consist of a single Parallel game card and a Universal card. The game is not currently available, the rules of the game are not clear, and the NFT is currently in the alpha version. In order to ensure the balance of the game play, the following character skills will not be written into the NFT for the time being. The subsequent beta and other versions are expected to add health, experience, physical strength, etc.

product

Parallel's current product focus is on NFT, each of which is created based on character characteristics. There are a large number of cards. The card types are as follows:

Table 2 Card classification

In The case of The First Son of Mars card, we can see that in addition to The main pattern, The card contains The following four elements:

Figure 3 The First Son of Mars[SE]

Functional card

Practical function cards refer to game cards with playability. Parallel standard game card rarity can be divided into Common, Uncommon, Rare, Legendary, and Prime. Each rarity has a different graphic dividing line and QR code color, as shown in Figure 4. Users judge the rarity of the card mainly through the two-dimensional code color discrimination. The Prime card is very rare and may have less than 10 editions. Due to its powerful functions, it is prohibited from participating in ranked matches due to fairness considerations. These cards can be obtained through presales, event giveaways, or supplemental packs (similar to blind boxes) sold at random drops.

FIG. 4 Rarity color classification

In addition to the above five rare cards, there are also some non-standard rare cards, such as SE and PL. These two versions of cards have the same functions as standard cards, but are slightly different in terms of release or artistic expression. Take Figure 4 as an example. The COLOR of SE version qr code is laser form, while the color of PL version QR code is red.

Figure 5 Different versions of GAIA's CALL cards

Non-functional card

Non-utility function cards include Card Back, Concept Card, and asset Card (Prime Key, Catalyst Drive). The qr code color of concept Card and asset Card is white. The card back is a game card, but it has no practical function in the game. Loyal players may want to choose their own Parallel card back, or a special animation card back; Concept cards are collectible works of art, whose value may be determined by how beautifully they are made or how many copies they are issued; Asset cards are a special type of NFT. Prime Key is a governance NFT. Holders of this card can participate in creating proposals and voting, or burn Prime Keys to redeem the corresponding proportion of Prime tokens. After burning, the Prime Key will become a red collectible card with no function. The future token economy model of the project may be determined by this card, which can be acquired by airdrop, secondary market purchase, or supplement pack purchase; The 150 Catalyst Drive will be used in conjunction with the Prime Key and will be available either on the secondary market or as a supplement pack.

Figure 6 Prime Key, Catalyst Drive

Another special non-functional card in Parallel is Masterpiece, which does not have QR code and has only 1 issued edition. Holders of this card can obtain 1% of the copyright fee when the corresponding type of card (such as standard card, SE or PL) is resold in the secondary market, and it is issued quarterly. The card can be obtained through pre-sale, secondary market purchase or supplementary package purchase.

FIG. 7 Corresponding cards of Masterpiece

Card Fun

Distribution data

Parallel is releasing its Alpha Card pack for the first time on March 25, 2021. This pre-order includes 15 game cards, 5 Card Backs, and 8 concept cards, which are also known as PS15. The presale sold $1.3 million to about 256 participants.

Figure 8 PS15 initial presale type

Since then, the team has found that these cards are overpriced, and in order to compensate PS15 holders, the team conducted a compensation airdrop program in May. This airdrop included Prime Keys, SE version game cards (including rare cards), and the backs of the cards. Here's the breakdown:

On June 14, 2021, Parallel released the first Faucet campaign, which released 10,000 Rug Poll game cards and 1 Rug Poll Masterpiece.

On July 31, 2021, Parallel conducted its first supplemental package airdrop (sale). This airdrop was for the generic version (4 sheets /0.01& NBSP; ETH), Enhanced (3 /0.1 ETH) and Deluxe (1 /0.2 ETH), the more expensive the pack, the greater the chance of getting a rare card, and including concept cards, Prime Key, Masterpiece, Catalyst Drives, total 13,813 packs, The final sales figures are as follows:

Figure 9 Card package sales

Take Common[SE] as an example, the card package contained 15,000 cards in total, 12,689 cards were issued and 2,311 cards were returned. Therefore, a total of 49,988 NFT cards were issued during the airdrop, and all the cards were sold, and 556.85 ETH was received in total, which was worth about $1.36 million according to the price of 1 ETH=$2,440 on July 31.

The team expects to launch the third and fourth NFT releases in late October (or early November) 2021 and January 2022 (to be determined), both of which will switch to supplemental pack sales.

Secondary market data

As of August 16, Parallel in the & NBSP; IO sales data show 6,000 Parallel NFT holders with a cumulative transaction of 13,445 ETH, worth about $44.33 million at the current price of 1 ETH=$3,297. At no. 23 on the Opensea NFT Top list, the sales figures are impressive, with the peak sales concentrated in the past month.

Figure 10 Parallel's secondary market sales history for the past 30 days, as of August 16, 2021

Figure 11 Comparison of sales data in different stages

According to The secondary market sales data, The price of NFT is closely related to The card rarity and issued edition. The higher The rarity, The less issued edition and The higher The price. The last trading history of a Prime rare card [The Priming] (March 27, 2021) is 26 ETH. The latest order is 2,000 ETH; Relatively early transaction records of Masterpiece ranged from 1 to 5 ETH, and currently most of the orders started from 90 ETH. Catalyst Drives latest sale price (August 10) at 35 ETH; Prime Key last traded at 7.19 ETH on August 10.

Economic models

From the project layout (Figure 12), Parallel is an ecological chain driven by games. The important parts are game development and DAO  Governance, token economy, and NFT sales may spawn skin, land auctions, anime, book sales, etc., but it's probably too early to tell.

Project layout

At present, the relatively certain points are:

• 持有 Prime Key 即持有代币，Prime Key 持有者可以参与 Parallel 的社区治理。Parallel 存在 Paradox 社区投票机制，Prime Key 持有人可以进行提案创建及投票，one key=one vote；Prime Key 持有人也可以选择烧毁该卡片，从而赎回对应比例的 PRIME 代币，而如何平衡治理和股权之间的关系，要看团队后续的手段；首批 Prime Key 总量为 1,500 张，最终流通约 1,000 张，按照二级市场最新成交价格 7.19 ETH 计算，全流通市值约 3,270 万美元。

• Masterpiece 是 Parallel 中最直接的盈利方式，持有人可获得对应游戏卡（标准卡、SE、PL）在二级市场转售时 1% 的版权费并按季度发放。所以，其收益可能取决于对应类型游戏卡的发行版次及受欢迎程度。另外一点就是，版权费设置为 10%，其中 5% 分配给社区池，4% 分配给开发团队，1% 给 Masterpiece 持有人。

• Catalyst Drives 需要 Prime Key 激活才能使用，具体玩法还需要等待官方公布，也许就是平衡股权和治理的关键。卡片总量为 150 张，按照二级市场最新成交价 35 ETH 计算，全流通市值约 1,635 万美元。

From the economic model, Parallel's current products are implemented by NFT, including project governance, which is essentially token NFT, and governance and equity are separated, and how to balance the relationship between the two may depend on Catalyst Drives play. So Parallel's token economy design has its own uniqueness.

At present, For this project, Prime Key may be a better way to invest, but the risk point to consider is that the liquidity of NFT may be relatively poor. Also, the team NFT has issued about 70,000 cards, but there are only over 200 cards in circulation, which means most of the cards are probably still in the hands of the original holders, which means they are likely to be bullish on the project.

Comprehensive evaluation of

According to the information disclosed so far, the project is likely to be a TCG card game. The game is just being developed and the game mechanics are not yet clear, so we cannot judge the game's playability. While the barriers to participation in card games may be high and the audience relatively narrow, strategy games are correspondingly more engaged and have a longer life cycle. The game is set in a sci-fi, ethnically distinct way, and has the potential to be an IP.

From the perspective of the production process of the cards on sale, the team artists are excellent and the cards are beautifully made. NFT combined with augmented reality (AR) gives the cards collectible value to a certain extent. Given the complexity of the card design, the game is likely to be a medium to large game, and the challenge is the balance and restraint between card play. Since the BIOS of the team members are not publicly available, there is no way to know how good the design team was, and judging by the YouTube co-founder's involvement and support, the project team is no worse.

Parallel complete economic model has not yet come out. According to the current published information, the token mechanism design has its own uniqueness: First, how to balance the relationship between governance and equity divestiture may be a more important thing; Second, another notable feature of Parallel is the NFT of the token, highlighting the novelty of the project, but one risk that should be taken into account is that the liquidity of the NFT may be less than that of the token. Of course, when evaluating a project, the most important thing is to see how closely the token fits into the game to determine the value of the token, which may not be possible for an early project.

In terms of publicity, the project is still in its early stages, and there has been little publicity about the project. The vocal Co-Founder of YouTube has made it a small presence, but for now the game is only popular in the NFT's deep community, with less attention.

To sum up, Parallel is still in the early starting stage, and the project design has certain bright spots. Therefore, we will keep our attention on this project.

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