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Parallel NFT raises US$50 million Series A financing round

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Parallel NFT

On October 13, 2021, Parallel NFT ("Parallel"), a company developing an NFT sci-fi card game based on the Ethereum blockchain, raised a US$50 million Series A financing at a valuation of US$500 million. The round was entirely financed through an investment by Paradigm, an investment firm focused on investments in crypto companies, protocols, and currencies. 

Fasken has also advised Parallel on formation, corporate governance, and intellectual property matters, as well as on crypto regulatory questions.

Fasken advised Parallel with a team led by Will Shaw, and including Evan Conover, Mike Stephens, Alec McIlwraith-Black, Nathan Haldane and Robert Marks (Articling Student).