Crypto bros lost this particular race.
F1 Delta Time, Formula 1’s official NFT game, is now dead. The game, launched in 2019, was among the first to integrate the currently-dubious form of cryptocurrency. And now its related crypto assets are pretty much in the toilet.
They actually announced the closure of the game on March 15th, 2022. Which probably sounds good until you realize that the announcement the powers that be sent out stated that the game would be closed on March 16th. That’s right, they gave a notice to players literally the day before it happened. So, the bad news is, if you bought anything related to the game, you got screwed in the ides of March. The good news is, if you never played the game at all… you didn’t really miss out on anything.
As stated, though, F1 Delta Time was one of the first NFT games. And it was, at one point a big deal; the most expensive NFT ever sold in 2019 was tied to this game. In a roundabout way, you can sort of see it being a model of the parabola of all of these sorts of things, at least to a certain extent.
It’s not entirely on the concept, though. The reason it was being shuttered was related to the reason it was a draw in the first place: The F1 license. The devs, Animoca, could no longer afford to renew the F1 license for the game. Which means all of those tokens, while not removed from wallets with the closure of the game, are basically worthless due to the lack of a game to use them with.
The devs, however, have realized that this is a problem, and have offered owners of those tokens generic replacements for an entirely different racing game.
As part of our commitment to an open ecosystem, we are providing F1® Delta Time asset owners with the following options:
– All F1® Delta Time car owners will receive Replacement Cars, which are equivalent cars for REVV Racing on Polygon based on the rarity and power of your original F1® Delta Time cars
– Your F1® Delta Time cars can be swapped for a Race Pass, which is used in staking and gives access to future NFT mints and airdrops
– Staking v4.0 will have our largest reward pool yet: 20 million REVV. To participate you will need to use your new REVV Racing assets together with a Race Pass. Future staking events to be announced.
– Event Segment owners receive 6 months of rewards, and an option to swap for Track Vouchers, redeemable for a REVV Motorsport track NFT in the future
– 2019 Crates and 2020 Keys can be bridged and staked into a SHRD earning pool on Polygon
– All other F1® Delta Time assets can be swapped for Proxy Assets, which will be used in the future to obtain NFTs for products across the REVV Motorsport ecosystem
The difference here, as compared to a regular game with cosmetics that shuts down, is that this game was meant to be played as an investment. You played to earn that sweet crypto; which is now pretty much useless, at least compared to the lofty heights it started at.
Source: Kotaku
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