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Formula 1 Began Selling Tokenized Crates On Ethereum Blockchain

By Shannon Wilson | February 27, 2020
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F1 Delta Time – the racing game built based on the Ethereum blockchain – has reportedly made tokenized crate sale available for general purchases.

Specifically, players will now be able to buy a wide array of cars, parts, drivers and racing gear, using the ERC-721 non-fungible tokens (NFT) as the payment option. Per F1 Delta Time, the sale will be happening between the timeframe from now to March 9th, with 6,500 in total available, at a price determined to rise up from the current level, starting March 3rd. 

Players who decided to buy the crates will reportedly has the opportunity to be the owner of one of three limited-edition cars, appeared in the “Four Guardians Apex”. The players’ entry ticket will be classified based on how rare their purchased crates are. The crates run from Common ($18) to Legendary (450$), with a specific price tag for each level. 

Moreover, F1 Delta Time will also add a support feature, which enables players to collect in-game REV currency, via a NFTs Staking mechanism. REV is a type of ERC-20 fungible token, which is used as the main currency in the game, used to finalize post-race payment and rewards. 

Non-fungible tokens is a type of digital coin that can be collected but cannot be interchanged, due to a few of their specific qualities, and are different in their rarity level. 

Previously, F1 Delta Time has hosted an auction session of F1 car-branded NFTs in 2019, following its initiative to finalize an agreement for international licensing with Animoca Brands – the blockchain firm that helps power the F1 Delta Time.

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