The first sports league that entered into the blockchain space in its infancy was Formula 1. It had joined hands with Animoca Brands to launch the Ethereum NFT game ‘F1 Delta Time’. Unfortunately, the game will no longer be on the network after today.
- The utility such as NFTs and tokens can be swapped on the REVV Motorsport ecosystem
- The firm revealed the largest staking pool of 20 million REVV tokens
F1 Delta Time officially announced in a blog post that the game is ceasing its operation due to not being able to renew the license with Formula 1 league. Along with this, the company also revealed its plan to reward its supporters before saying final goodbye on 16 March 2022.
The game has seen many milestones from the start as it launched in the early period of NFT. In 2019, F1 Delta Time’s “1-1-1” NFT became the most expensive NFT and virtual car of that year after selling for 415.9 WETH.
The game used a play-to-earn concept that allowed players to win REVV tokens from participating in different modes such as Time Trial and Grand Prix.
The existing player of the game now shifts over the “REVV Motorsport ecosystem” to use their utility from F1 Delta Time such as Revv, SHRD tokens.
As per the game’s future plan about F1 Delta Time Asset,
- F1 Delta Car (NFT) owner will get a replacement car with the same property and rarity level
- F1 Delta Car NFT also can be swapped for Race Pass, which will be used in staking. It will also be used in future minting and airdrop
- Staking V4.0 will come with the largest reward pool of 20 million REVV tokens
- Event Segment owners will receive 6 months of rewards and the option to swap for Track Vouchers
- 2019 Crates and 2020 Keys can be bridged and staked into an SHRD earning pool on Polygon
- The remaining assets can be swapped for Proxy Assets, which will use in the future NFT project on the REVV Motorsport ecosystem
Staking V4.0 will be open after the “asset swap for both 2020 and 2019 cars has been made available (30 April 2022).
The Formula 1 league has recently made much collaboration with crypto and NFT firms. Last month, Crypto.com partnered yet again with Formula 1 to become the official title partner of the new Formula 1 Crypto.com Miami Grand Prix.