F1® Delta Time introduces the world's first Formula 1® NFT
F1® Delta Time is an upcoming blockchain-based game that centres on the collection, trading, and racing based on Formula 1® cars, drivers, and components, which are provided as non-fungible tokens (NFTs). The game is the result of a partnership between the motorsport behemoth Formula 1 and the mobile / blockchain developer Animoca Brands.
The first launch phase of F1 Delta Time already began today at 1:11pm British Summer Time (UTC+1), with the auction of the first game car NFT. The second phase of the game - the racing component - will go live early next year.
With a whopping 506 million global fans of the F1 sports league, there’s a very significant market for F1 Delta Time. Throw in the fact that F1® is also seen as the most exclusive and high-end sport in the world, attracting the most renowned manufacturers, drivers, and sponsors, and it’s safe to say that this game will have strong brand power and luxury appeal.
This certainly seems to be supported by F1 Delta Time’s choice for its first NFT auction, starting today: a sleek car called the “1-1-1”. This unconventional vehicle sports a midnight black shell with elegant swathes of rose gold plating and crusted diamonds, but don’t let its pretty looks fool you: the 1-1-1 is a demon on the racetrack, with performance indices that are all above the maximum limits. It’s a truly unique and visually impressive collectable item, meaning that only one exists.
Thanks to the blockchain aspect of the game, owners of NFTs have total control over these items, to sell, trade or keep as they prefer. And, similarly to rare CryptoKitties, F1 Delta Time’s high-end NFTs will be both exclusive and potentially valuable as an investment - much like real-world collectables (e.g., rare baseball cards).
Another important aspect of using non-fungible tokens for in-game items and collectables is that NFTs enable digital items to have qualities such as rarity and scarcity - adding to their uniqueness and value - all independently verified and secured on blockchain.
Given the high sums that people have paid for NFTs like CryptoKitties or Gods Unchained cards, it will be interesting to see how strong the demand is for the first-ever F1 unique collectable token.
Next year, the launch of the racing game component will see players take part in tournament races across popular F1 official circuits as well as fantasy tracks.