F1 Delta Time 🏎
7 minute read · Issue Number 92 · October 29th, 2021
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Today’s article is part 3 of the digital collectibles ‘collection’ (LOL).
Do you know what time it is?
It’s F1 Delta Time.
F1 Delta Time (F1DT) is a game based on the Ethereum blockchain that Formula 1 created and released together with Animoca Brands (premier video game developers in Asia) in March 2019.
The game has two main components: the Collectibles and the Racing Game.
The Collectibles game is about obtaining and trading rare virtual items such as Cars, Drivers, Components, and Trinkets.
Those objects are non-fungible (i.e., unique).
Why do they have to be non-fungible? You may ask.
Scarcity and rarity.
The Racing Game is a gaming experience similar to traditional racing games.
You play by combining your previously owned collectibles (Cars, Drivers, Components, Trinkets) and using them in a virtual Grand Prix competition. The more scarce your object, the better you’ll do.
The Racing Game of F1DT works quite similarly to Mario Kart. If you haven’t played Mario Kart, you basically choose the components of your car for the competition with different characters, tires, and parachutes. Each one has its pros and cons.
For example, you can attach components like Gloves, Suit, Boots, Helmet, and Trinket to your driver. Each can improve the base performance of a player in an F1DT race.
The Racing Game is where players will combine the performance of their Car and Driver with their skill at playing the game.
Check out this quick video of a gamer going over the game-play of an F1DT Race:
It literally mirrors a GP event – there’s a Warm-Up Lap and a Qualifying Lap. You must have a Car, Driver, and Tyres to be able to play. The other collectibles are optional.
To play, you must pay an entry fee that gets distributed to the winners at the end of the competition.
Each collectible is minted (added to the blockchain) with real-life F1 Grand Prix performance and non-performance-based attributes, and it is stored on the token itself.
Collectibles can be acquired or purchased in many different ways, such as giveaways, the store, auctions, randomized bundles, and more.
On March 2021, an F1DT collection surprisingly sold out within 28 minutes. 1.8 million USD in 28 minutes.
Its most expensive virtual car sold yet went for 270,000 USD.
The Bottom Line
If you think about it, the game of F1 Delta Time is nothing new.
The most recent technology enables a game that already existed to create a massive business out of it.
Of course, the partnership with a strong brand in sports such as Formula 1 boosts this forward.
However, the ‘new internet’ allows us to mix video games with digital collectibles to efficiently create new revenue opportunities and enable fans to experience a more dynamic and fascinating game that involves economic incentives such as F1 Delta Time.
NFT representing 5% of Monaco F1 Delta Time track auctioned for $220K; The owners of Delta Time track-NFTs earn dividends from all activity on their track, including entry fees for races and yields from events.
Yield Racing: F1 Delta Time Players Can Now Stake Their NFTs; Players F1 Delta Time game can now stake their NFTs to generate rewards in the form’s Animoca Brands’ REVV token.
🎙 Halftime Snack of the Week
Adam’s the CEO & co-founder at SponsorPulse — a first-of-its-kind sponsorship intelligence tool that makes sponsorship insights accessible to properties, brands, and agencies of all sizes.
We discussed everything from sponsorships, metrics for evaluation, reliability and accuracy of the data, dangers of making choices purely from data, the latest report on the most marketable sports properties, and more!
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Until next week,
Read more: sportstechbiz.substack.com.
Halftime Snacks Podcast