Formula 1 Collectibles Race Onto the Ethereum Blockchain (Bitcoinerx)
A Formula 1 blockchain game, F1 Delta Time, is launching its Pole Position Auction & Contest that features official collectible cars on the Ethereum blockchain.
Blockchain technology has a ton of uses. Many companies are looking to use blockchain in different ways, such as collecting a patient’s medical data or enhancing food safety by tracking food from farm to supermarket. One feature of this innovative technology is the ability to create collectibles that are non-fungible tokens. The most notable is the CryptoKitties game, but now Formula 1 is getting into the game by offering unique collectibles on the Ethereum blockchain.
On Your Mark!
Formula 1 will soon launch a blockchain-based game called F1 Delta Time. The game will utilize the ERC-721 and ERC-20 standards and run on the Ethereum blockchain. Players can collect and trade cars, drivers, and components. The game’s fungible tokens are used as currency in the game and are based on the ERC-20 token standard.
The game will begin an auction on November 28 that features 10 unique Formula 1 cars. The cars being auctioned are the Mercedes AMG W10, Ferrari SF90, Red Bull Racing RB15, McLaren MCL34, Renault R.S. 19, Racing Point RP19, Toro Rosso STR14, Alfa Romeo Racing C38, Haas VF-19, and Williams FW42.
The cars (non-fungible tokens) are of Epic rarity for the upcoming game. The rarity levels for the game are Apex, Legendary, Epic, Rare, and Common. The auction will follow the Dutch format, and the starting price for the cars is 30 ETH.
Before the auction takes place, people can enter the Pole Position Contest and attempt to predict the order in which the 10 cars will be sold. The top ten winners will receive 2 ETH and a random F1 Delta Time Rare Car Gear, and the following ten winners will receive 1 ETH and a random F1 Delta Time Rare Car Gear.
Sports and Blockchain
This game is the latest use of blockchain by sports organizations. The National Basketball League (NBA) dipped their toe into this technology via the Sacramento Kings. The basketball team recently introduced a blockchain-powered reward program. Fans can accumulate points within the Sacramento Kings + Golden 1 Center app that can be redeemed for prizes like courtside tickets or autographed merchandise.
Major League Baseball (MLB) has its own blockchain-based game called MLB Champions. Players can buy and trade figures of baseball players that come in different rarity levels. Players can accumulate points by creating a team and by what the actual baseball player does during a real game. For example, if you are using Mike Trout on your team, you will get points if Mike Trout gets a hit during a game.
As the number of blockchain games increases, the demand for such collectibles will likely rise as well. The buying and selling of virtual goods have been around since the days of EverQuest where players used to auction rare items (or even in-game real estate) on eBay until Sony, the maker of the game, forbade it. Now such items are increasingly based upon the blockchain.
Images courtesy of F1 Delta Time, Public Domain Pictures, and Shutterstock.
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