F1 Delta Time Blockchain Game to Hold Digital Race Car Tokens Auction
The F1 Delta Time blockchain game licensed by Formula 1 will hold later this week an auction for F1 non fungible tokens (NFTs) that are also car branded.
In announcement released on November 22nd, it has been said the auction is going to be held on November 28th. Fans can already partake in an active contest for different F1-related prizes. Formula 1 has about 1.6 billion people from 180 countries watching its races and 506 million fans.
NFTs Are Going to Work within the F1 Blockchain Game
Different from other cryptocurrencies, NFTs are digital collectibles. They’re not interchangeable and carry unique information, not to mention they’re also rare. For the auction, F1 Delta mentions that it offers 5 rarity levels when it comes to the 10 official cars used in races. The NFTs will be functional in the upcoming F1 Delta game and at the same time, auctioned in a descending Dutch format, at the 30 Ether (ETH) starting price.
The NFT auction will include all F1 branded cars that are part of Formula 1 racing teams. The announcement is also saying the performance indices for cars are similar and about to be disclosed in the following week. At the moment, fans are asked to guess the order in which F1 team cars are going to be sold. They can win different types of gear, NFTs or 30 Ether.
F1 Trying to Popularize the Blockchain
Formula 1 and Animoca Brands, the blockchain startup, have signed in March 2019 a global licensing agreement for developing the F1 Delta Time Game. At that time, both Formula 1 and Animoca Brands highlighted how important it is for customers to gain more exposure to the blockchain. The same startup company has also signed a licensing agreement with Atari, the famous video games company that created Pac Man and Tetris.
Atari has witnessed in February 2018 its share price going up by 60%, soon after it announced that it’s going to invest in cryptocurrency. Vitalik Buterin, the co-founder of Ethereum has stated that blockchain applications not focusing on financial activities may have difficulties when it comes to gaining traction. He also said developing gaming and NFTs can make the blockchain technology more appealing.