Parallel, a sci-fi card game based on the Ethereum blockchain, has raised $50 million at a half-billion-dollar valuation from crypto VC firm Paradigm, as first reported by TechCrunch. Previous investors include YouTube co-founder Chad Hurley, Focus Labs, OSS Capital, and Yunt Capital, among others.

“The best crypto games will be the ones that can go beyond first-party content and inspire a community of players and developers to build on the game itself. We were impressed by Parallel‘s unique approach and fervent early community, and excited to support them for their next stage of growth,” Matt Huang, co-founder of Paradigm, was quoted by TechCrunch.

The project is based on a fantasy storyline about humanity’s escape from space following an apocalyptic attempt to resolve a global energy crisis. Unlike some of the other highly valuable pixelated NFT projects, like CryptoPunks, Parallel’s art style is focused on realism — through a science fiction lens.

The Company is yet to launch the actual game; the platform has received a lot of eyeballs ever since the first drop in August. Parallel takes 10% royalty on NFT sales, with half of that going toward in-game prize pools and the rest going to the company. One of the titles offered by Parallel – “Masterpiece” cards sold for $1.1 million worth of the Ethereum cryptocurrency.

On Wednesday, Animoca Brands, a Hong Kong-based blockchain gaming and NFT gaming company, has announced a capital raise of US$65 million at a US$ 2.2 billion valuation.

NFT ventures have received a lot of attention in recent days. Jay-Z, Mark Cuban, Marc Benioff, Google Ventures, and Andreesen Horowitz have all recently invested in NFT marketplaces. In India, actors Amitabh Bachchan, Salman Khan, cricketers Rishabh Pant, Dinesh Karthik have announced NFT projects.