Licensed Formula 1 Ethereum NFT Game is Shutting Down

Animoca Brands will give F1 Delta Time NFT holders replacement NFTs for REVV Racing and other perks after the F1 license expires.

In brief

  • Licensed Ethereum-based game F1 Delta Time will shut down this week.
  • Animoca Brands will give NFT holders replacement NFTs for another racing game, alongside tokens and other benefits.

Formula 1 was one of the first sports leagues to enter the blockchain space, with the launch of Animoca Brands’ F1 Delta Time game in 2019. But after three years, the Ethereum-based game is ending.

Animoca announced the unexpected news today, revealing that the game will abruptly cease operations at the end of Wednesday. According to a blog post, the company had “not been able to renew our license” with the racing league. It’s unclear how many total players the game amassed—data from leading NFT marketplace OpenSea suggests that only about 1,800 unique wallets owned NFTs from the game.

But F1 Delta Time’s sudden demise presents an interesting dilemma: What happens when a licensed crypto game or decentralized app (dapp)—which has sold user-owned assets as NFTs to its players—is shuttered because of an IP holder’s decision?

In this case, Animoca Brands hopes to appease NFT owners by offering replacement NFTs in another of its crypto racing games, REVV Racing, as well as other perks and rewards within the wider gaming ecosystem being built around its REVV token.

REVV Racing is an unlicensed driving game similarly built around NFT collectibles, and it runs on Polygon, a sidechain scaling solution for Ethereum. F1 Delta Time car owners will receive NFT cars in REVV Racing instead, for example, plus REVV Racing assets can be used to earn REVV token rewards in a new staking pool.

Beyond REVV Racing, other Animoca-developed games that use the REVV token include the licensed crypto games MotoGP Ignition and Formula E: High Voltage, as well as the unlicensed game Torque Drive from Grease Monkey Games.

F1 Delta Time was one of the first notable crypto games on the market, and early NFT enthusiasts made what were—at the time—sizable bets on the game.

Published By : Decrypt

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