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*Disclaimer – We are not financial advisors. The content in this article and on this website is for educational purposes only and merely cites our own personal opinions.*
Before we begin, I want to emphasize how important it is to have a plan before you start investing money in collecting. You can choose the kinds of cards you wish to purchase by taking a little time to plan beforehand. Usually the best thing to do before you decide on what to buy, is decide why you’re buying it. In this case, here are a few questions to ask yourself:
These are simple questions that you can ask yourself to help you decide where you want to begin.
You should conduct some market research as part of your planning. A great resource for Parallel Card price data is: thepriming.io. You can also check websites like OpenSea or LooksRare to get an idea of prices.
The purchase path for new collectors in the Digital Collectible world looks something like this:
This is a departure from the old days of card collecting, where you had to physically go to a card shop or retail store to buy cards for your collection.
Card distribution looks different for every card game. With Parallel, the cards fall into four categories of rarity: common (C), uncommon (U), rare (R), and legendary (L). Special cards might also only be accessible through special offers, occasions, the purchase of associated goods, or redemption schemes. In TCGs, the level of rarity also can indicate the relevance of a card’s effect in the game, i.e., the more powerful a card is in terms of the game, the greater its rarity. The concept of rarity is somewhat influenced by other sorts of collectible cards, such as baseball cards. Check out this page on Card Types to learn more about the Parallel Card schema.
When it comes to the creation and release of cards, the digital collectible world depends on a number of factors: asset and artwork creation, distribution schedules, set types, and more. With Parallel, they currently are distributing cards in Pack Drops (PD), approximately every three months. The base set of cards, will be completed when they do the sixth and final PD. They also have other methods to distribute cards, like Open Faucet and Galaxy Faucet. Eventually, they will also create player packs, so that people that want to purchase cards to play, can do so at a more economical rate.
Buying and selling digital collectibles, could be slightly easier or slightly harder than the days of the card shop, depending on how you look at it.
As mentioned above, you need a few things to be able to buy and sell digital collectibles:
Getting setup with a digital wallet is fairly easy. One of the most popular wallet providers is Metamask. Creating a wallet with them is free and easy:
Make sure to check out the FAQs on Metamask for best practices on wallet security. Bad actors will try to take your funds and/or cards, but with proper wallet security you can reduce your risk of losing your assets.
Once you have funds in your wallet, you can visit any of the previously mentioned sites to buy digital collectibles. OpenSea and LooksRare are trusted sites to buy and sell digital collectibles. Make sure to review the FAQs for best practices on those sites too. They will give you a breakdown on how to buy and sell on their platforms.
We’ll create more expanded, in-depth explanations on this process in the future. In the meantime, there are many resources available on the websites of the service providers that we mentioned. Please check those out in the meantime.