What is The Parallel? Overview of The Parallel project

What is The Parallel?

The Parallel is a metaverse virtual world with a real-world simulation game system. Coming to The Parallel, players have full freedom to create materials in the metaverse and participate in money-making, entertainment, and connecting activities.

Learn more about The Parallel at:

Website: https://theparallel.io/
Telegram Group: https://t.me/theparallelcommunity
Telegram Channel: https://t.me/theparallelofficial
Telegram Việt Nam: https://t.me/theparallel_ioVN
Twitter: https://twitter.com/theparallel_io

Highlights of The Parallel

Content Creator (Creative)

Players will truly be themselves in The Parallel. With what they can imagine, players create their own worlds and combine with the worlds of others to create an unlimited universe of The Parallel.
The Parallel will build a platform where players can play, create, collect, trade and earn cryptocurrency without going through any central control.

Hydra System (Copyright-Ownership)

Hydra System allows players to protect copyright by recording on the system.
Use AI for identity scanning to ensure that each NFT generated is unique, no NFT can be more than 85% similar.
This means that players can completely own the most unique items, can generate income from the rental of the copyright or the NFT itself without worrying about being copied.

Entertainment and connection

Creativity, entertainment and connection will always be appreciated and go hand in hand in The Parallel universe.
Imagine being able to create a grand performance with a stage designed based on your own style and personality, invite famous singers, enjoy the vibrant atmosphere with tens of thousands of players in The Parallel through virtual reality technology.
In the future, it will become very simple when the limit in The Parallel is only your imagination.

Enjoy To Earn

Enjoy To Earn is true to the name, it is enjoying to earn money.
The Parallel universe is a place for players to enjoy spiritual values such as creativity, express personality and imagination, and be entertained with countless in-game activities.
Not only that, The Parallel also provides players with real material values, NFT items of unbelievable value or $PRL cryptocurrency while players are having fun.
Enjoy-to-earn will be the next step in the gaming industry and The Parallel will be at the vanguard of this gaming revolution.

The Parallel’s Target Customers

The Parallel includes a large diverse community with many different roles in the game.

Investors are strong supporters of The Parallel in terms of strategy, technology, and finance.
Partners are long-term partners for cooperation and development, contributing to the project on many levels.
Traders are the people who invest in the project’s tokens, they can help the token grow and reach more people.
Farmers are players who specialize in mining to get Runes to sell and earn money.
Players are people who want to play games, have fun, and make money.
Creators are world builders or want to make money by designing Para-Art for sale or rent.
Game Developers are developers who want to build their games on The Parallel.
Entertaining Companies are companies that want to develop huge social entertainment venues, events & communities.

Features included in The Parallel

Material (Runes)

Runes in The Parallel are cubes. They are the material that makes up The Parallel universe and can be found anywhere.

Features of Runes:

Players use Runes to create Paragon with their personality and identity.
In addition, Runes are also used to cast tools, weapons, lands, and infrastructure on them. Players will freely create items in The Parallel.

Levels of Runes

Classification of Runes consists of 5 levels:

Legendary: The essential ingredient for creating “Gods” Paragons – The strongest level characters.
Epic: A Paragon is required to create the “Champion” Paragons.
Rare: Rare material. Although not required, they are important ingredients for the creation of “Elite” Paragons.
Uncommon: These are common materials.
Common: These are the most common materials.

Items

Items in The Parrallel are functional objects that Paragons can use in the world of The Parallel.

Item classification

Consumable items: Various items for mining, resuscitation, etc.
Equipping items: Various items which can be equipped for Paragon.

Tool features

Tools are unique accessories that help increase the properties of Paragon, support Paragon in the process of performing The Parallel’s activities such as Exploiting, Doing quests, Building…

Basic characters

The basic characters are all the same and are given to players for free when entering the game.
This basic character is not NFT and is not tradable.

Foundation Game

Custom Paragon (NFT):

They are player-created characters.
Each Paragon has its own unique feature, expressing the personality or preferences of the player.
Paragon is the only NFT that can be rented, bought or sold.
Paragon’s strength is based on the rarity and stats of the Runes that make it up.

CRAFT

Players will use Runes to combine to form Paragons.
The strength of the Paragons will depend on the rarity and strength of the Runes during Crafting.
With the same Runes material but Paragon can have different power stats.

UNCRAFT

Uncrafting allows the player to retrieve Runes from a previous Paragon.
Depending on different gaming purposes, players can Uncraft to create a more suitable character.
However, when Uncrafting, the player will lose some of the Runes materials used to craft at first.

Casual Mining Game

Explore new lands

Activities that help players exploit Runes on the lands of The Parallel such as rock digging, wood cutting, and fishing.

Potential map

Each land is created by different types of Runes. They will have their own characteristics of different terrain and materials.

Land

Land ownership

The number of these lands will be very rare and limited, players will have to participate in auctions and competitions to own them.

Land features

Land owners can build bases and feature structures on their land and lease services to others and earn profits.
More features will be updated in the future.

Activities to earn money in The Parallel

PvE and PvP Game

PvE and PvP modes will be updated in the next phases of The Parallel

Entertaining Experience

Entertaining mode will be updated in the next phases of The Parallel.

Quests

Daily quests

Various types of quests for players to do daily and then receive rewards.

Weekly quests

Various types of quests for players to do weekly and then receive rewards.

Special activities

Special festive events are where players can earn rewards of special value over other activities.

Special activities will be updated and refreshed during the development of The Parallel.

Marketplace

Trading and buying activities of NFTs and items in The Parallel universe will take place at Marketplace.
This marketplace will operate based on auctions, items offered with a starting price and the auction time.
In each auction, after the auction time is up, the person with the highest bid wins and gets the item.

Modes and Devices

In standard mode (without VR/AR), The Parallel provides a full range of features and activities for the character. This allows players to participate without depending on the included accessories (eg VR glasses).
In the early stages of The Parallel game development, players will be able to play both on desktop and mobile to experience the in-game activities. During this initial development, the project will develop the desktop version first.
In the medium term, the game will also be available on Console platforms with AR and VR. Targeted AR and VR compatibility mode will be available in Q3, 2022.

Money-making mechanism in The Parallel

Play To Earn (As a Player)

Players do mining activities to earn Runes and various items.
Players do daily quests and weekly quests to get rewards.
Players can work on land owned by landowners and get paid.

Create To Earn (As a Creator)

Players create high-value Paragon, land, items to get rewards from special activities
Players profit from the copyright of creating Paragon.

Lease To Earn

Players lease Paragon, lease land for profit.

Farming

Users use PRL Tokens added to farming pools to earn profits.

Staking

Users stake $PRL or NFT Paragon to:

Earn $PRL.
Get tickets to draw lottery to buy Land.
More use cases will be updated in the future.

Trading

Users buy, sell, trade through Marketplace to make a profit.

Cash flow in The Parallel

TOKENOMIC

The Parallel uses an ecosystem of 2 Tokens: Parallel (PRL) and Power Stone (PS).

Token Metrics

Parallel ($PRL) – Main governance token

Token Name: Parallel
Ticker: PRL
Blockchain: Binance Smart Chain
Token Standard: BEP-20
Contract: Updating…
Total Supply: 1 billion tokens

PowerStone ($PS) – In-game Token

Token Name: PowerStone
Ticker: PS
Blockchain: Binance Smart Chain
Token Standard: BEP-20
Contract: Updating …
Total Supply: Infinite

Token Allocation

Token Release

Token Usecase

$PRL

Used for Staking.
Used for Farming.
Used as payment fee, payment unit on Marketplace.
Rewards for participating in special events
Used to mint NFTs Paragon, Land, Item.
Provide liquidity on exchanges.

$PS

Rewards for in-game activities.
Used to CRAFT/UNCRAFT NFT.
Used to mint NFTs Paragon, Land, Item.

Treasury

In order for the economy to develop in a sustainable way, the revenue will be redistributed as an incentive for active contributors in The Parallel ecosystem.
All users must participate in game development to receive rewards.
Finally, once a decentralized governance board is established, the parameters and conditions for allocation to the different groups will be determined by the governance board, and no centralized party can unilaterally control that aspect.

The Parallel’s Treasury revenue sources

All transactions in the Paragon NFT market are subject to fees.
The user fee for NFT copyright registration.
$PRL of the ecosystem fee.
Sell Land and in-game consumables.
In addition, there will be a fee when players want to craft NFT paragons and items.

DECENTRALIZED AUTONOMOUS ORGANIZATION

The Parallel is a member-owned community game without centralized leadership.
All $PRL holders are in fact members of the Decentralized Autonomous Organization (DAO).
To participate in the governance process, DAO members will have to deposit their $PRL. Only $PRL deposited for votes is charged.
By participating in the voting process, $PRL holders directly contribute and together build the future of The Parallel universe.
Occasionally, active DAO participants will also be rewarded for their great contributions to the ecosystem such as limited edition NFT items from The Parallel or simply a $PRL reward.

ROADMAP

Quarter 4/2021

Launch of the Landing page

Organize a Token issue event (IDO)

Launch of Earning features.

Farming PRL/BUSD.
Staking PRL.
Staking NFT.

Launch Foundation Game: Craft Paragon.

Craft/Un-craft feature.
Focus on creativity.

Allows submission of Paragon blueprints.

Design copyright protection with Hydra System Technology.
Monetize copyrighted designs.

Quarter 1/2022

Launching Marketplace.

Buy/Sell Runes.
Buy/Sell designs.
Design rental.
Buy/Sell Paragon characters.
Launching the resource extraction game: The logging game.

Exhibition & Auction of unique Paragon figures.

Quarter 2/2022

Land sale

Own your land to create your own world.
Focus on customers who love creativity and entertainment.

Launching a new resource extraction game: Fishing Game.

Quarter 3/2022

Integration between game publishers and entertainment companies.

Open sale of land to create games or businesses in The Parallel.
Support partners and profit-sharing policies.

Launching AR/VR for game development entertainment companies.

Launching a new resource mining game: Mining.

Quarter 4/2022

Driving Game Launch: Demo Integration for Game Studios

Mega Virtual Event: The best experiences in the world of The Parallel

2023

The Parallel Game Hackathon: A Game Festival for the best games developed in the world of The Parallel.

Orientation event for entertainment companies.

Developer Team of The Parallel

Louis Nguyen – CEO and Founder

He has more than 5 years of experience in Fintech and blockchain.

Bui Ba Hien – COO

Has more than 10 years of experience in Marketing and Gaming.

Currently, she is also the CEO of Box Studio – focusing on building & developing channels on sports and game-themed social networking platforms. Up to now, Box Studio owns one of the largest fanpage systems in Vietnam.

Daniel Pidan – CBO

With more than 10 years of experience in the field of international business and diplomatic relations. As well as having a deep interest in Crypto and Gaming.

ADVISORS of the Parallel

Mr. Santiago Roel Santos

He is a partner of ParaFi Capital, advisor of Synthetix. In addition, Santiago Roel Santos has had 3 previous jobs including Director of Research and Growth at Elysium.
He has more than 9 years of experience in blockchain, fintech, and Crypto.
He is an extremely reputable person on the social network Twitter with more than 76,100 followers. In particular, CZ of Binance, Justin Sun of TRON, and a series of major CEX exchanges all follow his Twitter.

ACHIEVEMENTS

Co-authored and published in Nature for Research in Aging and NAD+: https://www.nature.com/articles/s41514-017-0016-9
The recipient of the Startup Leadership Scholarship at J.P. Morgan as a sophomore and one of the first few people admitted to the investment banking program as a freshman.

SKILLS

Venture Capital, Research and Development

Mr. Hung Dinh

He has a lot of experience in developing technology products in his home country and has had great success in international markets such as JoomlArt, Designbold, etc., along with experience in running VIC Partners Venture Capital Fund for domestic startup projects.

ACHIEVEMENTS

Founder of RADA (September 2021 – present): The world’s largest DAO community, early investing in blockchain projects and helping Asian markets: Vietnam, India, Ukraine, Pakistan
Co-founder of DesignBold (August 2015-present)
Founder of JoomlArt (June 2005-present)
Founder DesignWall (2012-present)
Founder of UberTheme (2012-present)
Co-Founder of Thuốc tốt (November/2015-present)

SKILLS

Leadership & Management
Startup Consulting & Mentoring
Product Development & Sales

Mr. Steven Nguyen

Steven is a gifted leader with a rare combination of patience, ambition and adaptability.

ACHIEVEMENTS

Advisor of http://Coincu.com -Crypto Media & On-chain Data Analysis.
Partner with CoinCu Ventures
CEO of Luxstay (October 2016 – present)
Founder of NetLink (December 2007 – present)
Co-Founder of Metub Network (2014 – present)

BACKER Of The Parallel

The Parallel is invested by many large and reputable funds. Especially with Kyber Network, Rada, Coincu, Coin68 Venture, Box Studio.

Conclusions

Currently, the Metaverse trend is extremely active in the world. Leading companies such as Facebook, Bloomberg Intelligence have also started participating in the development of Metaverse.
The Parallel – The first Metaverse project in Vietnam that promises to bring pride to Vietnam.
With a clear roadmap and development strategy, along with a backer team, and the team behind is extremely excellent. More specifically, Kyber Network is a strategic investor. I believe The Parallel will do something that can compete with other top projects.
However, the minus point of the project is that there is currently no specific product for users and the gameplay is unclear. There should be testnet versions for players to experience to have more confidence in the project.

Please leave comments and suggestions, I will try to improve to bring you the most complete articles and translations possible. Thank you!

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Disclaimer: This article is for informational

purposes only, not investment advice. Investor should research carefully before making decision. We are not responsible for your investment decision

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