Interview: The Parallel – Building Solid Growth In A Gloomy Market

August 1, 2022 - Around 5 mins mins to read

The Parallel

The Parallel is a metaverse virtual world with a real world simulation game system. Coming to The Parallel, players can fully create their own materials in the metaverse world and participate in money-making, entertainment and networking activities.

CoinCu News recently had the opportunity to speak with The Parallel team to know what they are going to do in the current bear market.

Can you give us a brief description of your company’s activities, values, and mission?

The Parallel’s vision is building An Infinite Metaverse with endless gaming, entertaining and social experiences on the BNB chain. It is an ecosystem that serves different groups of stakeholders including creators, players and investors.

About the recent market condition, do you think what signal might dispel pessimism in the market, following a string of disasters?

To dispel pessimism in the market after a string of disasters, it might require a new trend to attract a new flow of money and investors to participate in. When that happens, good projects will prosper and gain more users by investors, meanwhile bad projects, without showing transparency, reliability and following the new trend like good projects, might suffer an inevitable downfall. Regarding that, NFT might become the next trend and strive to become more popular in the near future.

In the global economic and technological transformation, how far do you believe the crypto industry will progress?

For years, the crypto industry has survived many difficulties and we learn our lessons day by day to make it better. We believe in the advance of blockchain technology and its potential in being utilized in several industries. Not only that, the industry might thrive more now that they’re discovering the blooming possibilities of NFTs.

Can you share with us how your project and your team formed?

We began with a 100% blockchain-based company that focused on providing outsourcing services, then, we formed a team of talented people with passion and different expertises to follow the vision of building an infinite metaverse.

What is the outstanding feature of your project compared to others?

“There are two elements that build up The Parallel Metaverse and make it unique: Open World, the NFT Paragon Creator
– Open World is an entertaining and creative platform for everyone to join, create, experience and earn using their NFTs as a type of citizen passport.
– The NFT Paragon Creator is the fundamental tool to create NFTs in The Parallel. It combines a web-based voxel editing tool and a crafting feature that users can use to create their own NFTs.”

What are the challenges in your project’s development up to now?

Up to now, The Parallel has met several difficulties in developing the project, particularly in building our Open World, which is a huge task and takes time and efforts to perfect it. We struggled to build a sustainable capital to fund the developments. Along with that, we are trying to improve and find ways to grow and sustain our users in the current unstable market

What is the project’s vision in the enormous blockchain space?

We aim to build an entertaining, social and sustainable ecosystem in The Parallel based on blockchain technology to bring in the true meaning of blockchain and still maintain a balance between our “enjoy” and “earn” capabilities.

Do you think the crypto winter will come soon? If yes, what will your project do?

I think the crypto winter is already happening, and The Parallel is focusing on building and improving our products to follow our metaverse vision, to maintain and recruit talents. We also work hard to make sure that we’re always ready for the market’s changes.

Do you think this crypto winter will differ from previous winters? Why or why not?

It is clear that this crypto winter is different from the previous winter, mainly because the number of people who have knowledge about crypto has increased, along with the use of crypto in our daily lives. It certainly brings a difference compared to the last crypto winter and might end the four year cycles of the crypto market earlier than we expect.

In your opinion, what should crypto investors and project builders do in the current gloomy market situation?

For crypto investors, they should broaden their knowlegde by becoming observers and follow the upcoming trends to predict the market better. For project builders, they ought to focus on building and improving the products, expand and leverage the staff capability, at the same time strengthening the bond with their loyal users.

What role will your project play in the upcoming development of the cryptocurrency market?

The Parallel aims to become one of the blockchain-based projects of Vietnam that utilizes the advanced technology to bring the best metaverse experience to as many people as possible, attracting more users on the way.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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