Formula 1 branded blockchain game F1 Delta Time is holding an auction of F1 car-branded non-fungible tokens (NFTs) on Nov. 28.
NFTs are a form of a digital collectible: non-fungible meaning they are not interchangeable, carrying unique information and varying in their level of rarity.
F1 Delta has set 5 different rarity levels for the 10 official racing cars set for auction. Each NFT will be usable in the forthcoming official F1 Delta game and will be auctioned simultaneously in a descending Dutch format, with a starting price of 30 Ether (ETH).
All F1 branded team cars will be included in the NFT auction, including 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.
As previously reported, Hong Kong-based game developer Animoca Brands partnered with sports management company Dorna Sports, S.L.Formula 1 in March of this year, paving the way for the development of the F1 Delta Time Game. The new game is using blockchain tech and smart contracts to allow players to purchase and exchange collectibles that will be included in the game’s storyline.