F1 Delta Time, an official NFT and crypto-powered racing sport that launched again in 2019, closed its doorways final month, leaving everybody who had spent cash and invested within the challenge most likely wishing that they had performed 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 acquired into the rip-off—announced its closure on March 15, giving customers…someday earlier than the sport shut down on March 16. Should you’ve by no means seen F1 Delta Time earlier than, and also you’re pondering “wow, did I miss an thrilling Method 1 racing sport?!?!”, 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, not less than on this cursed house! Instance: the most expensive NFT sold in all of 2019 was a car for this game, which went for over $100,000, and a mix of the official F1 license and a promised capacity for gamers to “play to earn” made it an early check case for the way NFT-powered video games may work.
With homeowners Animoca unable to resume the F1 license, nevertheless, it’s now additionally a check case for what occurs when a licensed NFT sport dies, as a result of all that cash splashed out on automobiles and different gadgets—some gamers would later spend almost $300,000 on a single transaction—is now ostensibly nugatory. Certain, the tokens themselves stay on, however with out the sport they had been purchased for there’s no precise worth there.
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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.
Womp.
