Formula One is one of the world’s most recognizable sporting brands. Earlier in the year, it announced that it will see its owners, Liberty Media, launch a blockchain-based game in an effort to bring in a younger, more tech-oriented subset of fans. Reportedly, 1.6 billion viewers tune in to Formula One races, while 4.1 attend in person. The numbers are high for interests in the Formula one game brands, hence it is a step in the right direction to embed crypto functions to draw young tech enthusiasts out. Also announced in late-March was that the game titled F1 Delta Time will come from Hong Kong-based gaming firm Animoca Brands.
The blockchain-based racing game called F1 Delta Time has just launched a new line of crypto collectables; these collectables include Cars Drivers and Components. The ERC-271 non-fungible token standard on the Ethereum blockchain allows different attributes for each token; this is the standard on which these collectables are based.
Animoca Brands are the creators, they have published mobile products and games based on Garfield and Doraemon and other popular ones like “Crazy Kings” and “The Sandbox” and also. The F1 Delta Time is one of their first blockchain-based racing games. The first collectable vehicle in the game, called the 1-1-1, is up for auction and it’s already reached a whopping $92,124.
According to the creators, “fungible Tokens (FTs) based on the ERC-20 token standard will function as a currency in the game, and will be equally necessary as they will be used in transactions such as paying entry fees and purchasing certain items,” The game has undoubtedly drawn some level of attention to the blockchain technology and most likely is achieving set aim.
For the record of an In-game NFT sales from a game maker, this may mark the first example making for a quite interesting auction. It’s a virtual car in the question of the auction that many will not think to pay 360 ETH for, but there is demand for it. Animoca is doing something right perhaps.
Credits – John Biggs
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