Here's why this investment firm is bullish on Parallel:
GC ALPHA 20
Disclaimer: None of this information should be taken as financial advice. DYOR + I will hold some of the assets that are spoken of in this newsletter.
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(P2A) EVENTS & SOCIALFI
KING OF DESTINY
Tomorrow, the King of Destiny’s Journey to Olympus P2A campaign is kicking off
This first event starts on the 22nd and will last for 2 weeks
Future events will be announced shortly after. The team aims to have multiple 2-week events in succession
During the event, players will earn points for completing specific in-game actions, these include:
Attacking friends, launching Destiny Eye attacks, winning coins (from deals & attacks), and using favor to summon pets and heroes
Points are multiplied by your VIP level, a higher level provides a larger multiplier
You must be a minimum of VIP level 1 to score on the leaderboard and qualify for GOD rewards
Becoming VIP level 1 will be somewhat spend-gated:
On the one hand, this is “pay to airdrop”, on the other hand this means the rewards will be more concentrated (fewer bots and farmers)
Players who climb the leaderboard will be rewarded GOD chests
These will be soulbound NFTs, that can later be burned (at TGE) for GOD rewards
GOD chests will automatically be deposited into every player’s smart wallet
King of Destiny has been live for a couple of months already, and players who have progressed the campaign and accumulated deals, favors, and other resources will have an advantage
LOOT LEGENDS
Loot Legends launched on iOS and Android last week, marking the start of the P2A campaign (full guide)
Inside the game, you can earn Lootboxes, which contain in-game items that can help you progress e.g. diamonds, gold, pet fragments, etc.
Lootboxes are opened inside the Game Hub, unfortunately, the launch of this feature has been postponed for now
Diamonds will be the rarest currency in Loot Legends, used to purchase upgrades, revive your character, open chests, purchase gold, etc.
When it comes to earning TOPIA, there will be 2 reward pools, distributing rewards evenly (50/50)
Global player leaderboard: ranked by current dungeon level and character power
Global guild leaderboard: ranked by guild level and guild experience
During the P2A, also 50% of all the TOPIA tokens used for diamond purchases are added to the rewards pool
10% is sent to the one that referred the purchaser
Furthermore, on Lootboxes:
If you pre-registered before launch, you can claim a free lootbox
Prior playtesters can claim boxes based on their dungeon-level achievements and guild contributions (progress has been reset)
Lastly, I want to highlight this thread from Spiky, who explains more about the game itself
TAKEDOWN LEGENDS
A couple of days ago (Oct 17) Takedown Legends launched its P2A event with $1M in rewards
If you’re not familiar, Takedown Legends is a top-down mobile BR shooter, similar to Brawl Stars
During the campaign, you earn points through:
Social engagement (social quests, referring friends, making people follow Takedown legends)
In-game ranking, measured by monthly average users (the more users the larger the prize pool)
There are also daily login rewards including double XP rewards, various currencies, boxes, and skins
The leaderboard payouts are decent with $250 in tokens if you end up in the top 1000, up to $25,000 for rank #1
This number seems to be based on the estimated opening TGE of SNACK
FLASH EVENTS
RIFSTORM’s Alpha Playtest is live from Oct 16 - Oct 30
Super Champs kicked off S2 with new quests, a Telegram game, and more
Invite to Mystery’s Halloween Tournament is live until Nov 6th
Aurory’s Tricks ‘n Treats Halloween event starts on October 29
Blade of God X’s third playtest is live from Oct 17 - Nov 7
Kaidro Clan Battles Open Alpha is live from Oct 14 - Oct 28
MARKET TALK
VANECK IS BULLISH ON PARALLEL AND…
Last week Gabe Rabello, an investor at VanEck, shared why their investment firm is bullish on gaming:
In this thread, Gabe goes into the broader gaming thesis, gaming objections, and what they look for when investing (see the image above)
Furthermore, Gabe goes into #4 on the above list and why Parallel is one of their long-term bets
Their second long-term bet is still undisclosed (note: it’s part of their liquid token strategy)
Other picks I’d add myself, that check the first 3 boxes and have a hero title and plans/potential to leverage it into a platform (only PN has a live token):
Wildcard: which recently announced the ThousandsTV platform
Fableborne: which announced the Web3-LiveOps infrastructure platform Power Protocol in July
Azra Games: which recently announced an enormous Series A of $42.7M, potentially indicating larger plans to go the infrastructure route (take from Sparkc)
Pirate Nation: aiming to become the game engine of FOCG
Also seeing a bunch of team members in the comment section
Lastly, the comment section has some Alpha, including VanEck roaming the Cambria TG investor chat and showing potential interest in B3
GAMING NFT SENTIMENT
A couple of days ago I did another analysis gauging gaming NFT sentiment
I did the same for July 10 - Aug 15 and early June till July 12
My findings revealed that:
The Cambria Founder’s collection was the biggest (paid mint) cook:
Today it’s sitting at 0.34 ETH and with an upcoming playtest on the 25th, I expect it to accrue more value
For most minters, it was even free or only 0.05 ETH, the highest mint price was 0.1 ETH
Cambria is heavily focused on Web3 and knows how to appeal to the crowd of speculators and degens (massively helps with FP)
Dark Machine VIP Access is the biggest (free mint) cook:
Very low supply, good team, one of the more quality games in the space
Most volume: Gomble Spacekids
These opened pretty high for a free mint at 0.17 ETH and are still trading at ~0.13 ETH
One of the projects that seem undervalued in the Western markets, but more popular in their home market for example
Trends:
We’re seeing more mid-supply collections coming to market, as a result of 1) the launch of a low-supply collection first and 2) the launch of a mid-supply collection after strategy (e.g. Today, Gomble, BOGX, and L3E7)
Paid mints aren’t doing too well, Cambria is the only one that’s profitable
This makes me not too confident that L3E7’s 2nd collection will mint out (5000 supply, 3000 mintable at 0.1 ETH)
Sentiment: carefully positive
Free mints can get you some ok money, paid mints are still uncertain. Overall, the market is lukewarm I’d say, and there needs to be a very successful mint to improve sentiment
ON THE RISE
Confiction Labs (creators of Riftstorm) is launching a 2nd collection through XPSR-24 (it’s a public deposit)
“you have to build your Clearance Level in their questing/tracker Portal to earn the whitelist” (h/t to Tyrus)
Prospect Sports (mobile fantasy sports) announced they’re joining Abstract Chain
Another game joins Abstract, next to Onchain Heroes, Duper, and Peng Pals
XBORG’s token success is spilling over to the Genesis Prometheus NFT collection
The NFT collection’s fp is up by 191% in the past 7 days