The first official Formula 1® non-fungible token auction is now live
The “1-1-1” NFT is a digital milestone in motorsport
24 May 2019: The 1-1-1, the first official Formula 1® non-fungible token collectible, is now available at auction. The 1-1-1 is the first digital car to be released for the upcoming F1® Delta Time blockchain-based game. Check out the auction now at www.F1DeltaTime.com (auction ends 27 May 2019 at 7:42pm BST / 11:42am PDT).
The 1-1-1 is the first ever official non-fungible token (NFT) for the new blockchain-based game F1 Delta Time, developed by Animoca Brands and based on the world’s most popular annual sporting championship. The first phase of the game, available now, consists of the collectible component featuring NFTs based on F1.
1-1-1 signifies the first official Formula 1 NFT, the first F1 Delta Time car auction, and the only one of its kind. This is a unique item: a truly one-of-a-kind digital collectible and a digital milestone in motorsport.
The 1-1-1 has a sleek aerodynamic design of black carbon composite, rose gold plating, and swathes of glittering diamond crust. Like its striking and unconventional shell, the performance of the 1-1-1 stands out from the crowd, with performance indices above the maximum levels delivering unmatched speed, acceleration, and grip.
The appeal of NFTs
Non-fungible tokens (NFTs) are digital assets and collectibles. The authenticity, rarity, scarcity, and other properties of NFTs are independently guaranteed, verified, and secured on blockchain.
The 1-1-1 and other NFTs in F1 Delta Time will forever be owned by their owners regardless of any decisions taken by the game, Formula 1, or Animoca Brands.
Players are free to do anything they want with their NFTs: they can sell them on a marketplace for real money, collect them, or use them in F1 Delta Time when the racing component launches. Since NFTs exist independently across blockchain, players can even use their Formula 1 NFTs in other blockchain games (third party support required).
Rare digital collectibles can be extremely valuable. For example, the CryptoKitties unique NFT “Dragon” sold for 600 ether, the equivalent of about US$170,000 at the time of sale; the NFT “Hyperion” for the upcoming Gods Unchained sold for 146.271 ether, worth approximately US$60,000 at the time of sale.
Anyone interested in the world’s first Formula 1 NFTs can visit the game’s website at www.F1DeltaTime.com to review the auction. Participation requires a web browser that supports Ethereum wallets, as well as an Ethereum wallet; bids will be made in ether.
F1® Delta Time
F1 Delta Time is a blockchain game licensed by Formula 1, developed and published by Animoca Brands. The game consists of a collectible component based on NFTs as well as a racing component utilising those NFTs. The collectible component is available now, and the racing component will launch in early 2020. For more information please visit www.F1DeltaTime.com or join the official Discord channel at https://discord.gg/s6wn7dk.
About Animoca Brands
Animoca Brands (ASX: AB1) leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Dapper Labs, WAX, Harmony, and Decentraland, and it is also the exclusive China distributor of CryptoKitties. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.
The F1 FORMULA 1 logo, F1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing BV, a Formula 1 company. All rights reserved.