RED FLAG for Defunct Formula 1 Blockchain Game
For blockchain junkies who are heavily vested with sweat equity like myself, I just got front row seats to the horrors of what happens when you purchase a USD $288,000 F1 Car NFT in the F1 Delta Game Block-chain game with the promise that NFT’s are going to be available forever and then F1 decides to not renew the gaming company’s (Animoca Brands) license to continue F1 Delta Times’s existence. What happens is that Your NFT is now worthless. Mic Drop.
F1 Delta Time was one of the first games to embrace NFTs way before they became such a big deal. It launched in 2019, and it's licensed by Formula 1. Attributing the Formula 1 brand to the project inspired some trust and legitimacy to the game.
Game transactions were based on the Ethereum blockchain and a coin called REVV. You can use this currency to buy NFT items like cars and drivers for your car. Despite having a good player base, it didn't really break through to the mainstream. But it was a step ahead of the NFT boom, with some impressive results like the most expensive NFT sale of 2019 at USD $100,000.
Played-to-earn, F1 Delta Time was all about earning NFTs and tokens with the promise that you could then resell those NFTs for big bucks in the future. The shutdown is monumental for a lot of players because they invested a lot of time and money into this. In a standard game, the player base will be disappointed, but they don't lose anything. Here the players all lost money.
Animoca Brands the gaming developer has offered to swap the assets from F1 Delta Time to their other game, REVV Motorsport. Yet, that’s a lot trouble to transfer and at the end of the day, the tenants of the Blockchain being transparent, immutable and trustworthy goes down the drain due to a licensing issue. In the real world, you pretty much bought a kit car at the price of an F1 car and that’s a bad investment.
For more information, you can read these article:
https://www.sportspromedia.com/news/f1-delta-time-blockchain-game-shuts-down/
https://www.entrepreneur.com/article/423999
https://www.esports.net/news/f1-delta-time-nft-game-shuts-down/
https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953
https://www.ledgerinsights.com/animoca-brands-shut-downs-nft-game-f1-delta-time/
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