Formally Licensed System 1 ‘Ethereum NFT Recreation’ Shuts Down



Formula 1 Crypto Game

Picture: F1 Delta Time

F1 Delta Time, an official NFT and crypto-powered racing recreation that launched again in 2019, closed its doorways final month, leaving everybody who had spent cash and invested within the challenge in all probability wishing they’d accomplished one thing else with their time.

The sport—which was one of many first licensed NFT titles on the market, years earlier than different leagues and sports activities obtained into the rip-off—introduced its closure on March 15, giving customers…in the future earlier than the sport shut down on March 16. In case you’ve by no means seen F1 Delta Time earlier than, and also you’re considering “wow, did I miss an thrilling System 1 racing recreation?!?!”, you didn’t:

Video games shut down on a regular basis, however what’s notable about this one is that it was at one level a fairly large deal, a minimum of on this cursed area! Instance: the costliest NFT bought in all of 2019 was a automobile for this recreation, which went for over $100,000, and a mix of the official F1 license and a promised skill for gamers to “play to earn” made it an early take a look at case for the way NFT-powered video games may work.

Sales of items have been flat-lined for over two years before the closure

Gross sales of things have been flat-lined for over two years earlier than the closure
Screenshot: Opensea

With homeowners Animoca unable to resume the F1 license, nonetheless, it’s now additionally a take a look at case for what occurs when a licensed NFT recreation dies, as a result of all that cash splashed out on vehicles and different objects—some gamers would later spend nearly $300,000 on a single transaction—is now ostensibly nugatory. Certain, the tokens themselves dwell on, however with out the sport they had been purchased for there’s no precise worth there.

Fully aware of this, the developers have promised the owners of those F1 NFTs that they can now have some generic replacement tokens for an entirely different racing game instead:

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

Like I said, games shut down all the time, and many of them have had players who spent money on items, levels, weapons and other types of digital content. The difference here is that in a regular video games, those are part of the experience; this game’s items, like everything else crypto-related, were pitched as an investment.