Animoca Brands is shutting down its planned Formula 1 game ‘F1 Delta Time.‘ The company stated that all players of the Ethereum-based racing game would be rewarded for their loyalty and support.
“It is with deep regret that we announce that F1 Delta Time will cease operations on 16 March 2022”, the game’s team shared in the blogpost.
It is with deep regret that we announce that F1® Delta Time will cease operations on 16 March 2022. While we have not been able to renew our license, we will ensure that current owners of F1® Delta Time assets are rewarded for their loyalty and support.https://t.co/q8EspaC0Iv
— F1® Delta Time (@F1DeltaTime) March 15, 2022
Animoca brands revealed that the decision was a result of the company’s inability to renew their license with F1.
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Animoca Brands had signed a global licensing agreement with Formula 1 to develop and publish the blockchain game back in March 2019. F1 Delta Time consisted of a collectible element based on NFTs, as well as different race modes such as ‘Time Trial‘ and ‘Grand Prix Mode‘ that utilized those NFTs.
The agreement with Animoca Brands made Formula 1 one of the first sports leagues to enter the blockchain space.
Despite its past milestones, F1 Delta Time now approaches the finish line, though the game’s NFT collection of over 40,500 assets remains in the hands of more than 1,800 users. Despite this ending, F1 Delta Time has forever secured its place in the NFT history books, even though its journey began before the great NFT hype of 2021.
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Its very first official Formula 1 NFT, called 1-1-1, was sold for 415.9 wETH (worth approximately $707K USD) in May 2019. The NFT, which featured the first digital car for F1 Delta Time, attracted the highest sum ever paid for a branded game non-fungible token in 2019.
Last year, two F1 Delta Time NFTs were sold for the highest price ever paid for the virtual car NFTs.
Even despite the news, the game’s trading volume hasn’t changed much. According to CryptoSlam, the sales volume of F1 Delta Time NFTs accounted for $1,800 over the past 24 hours.
