Animoca Brands to develop Formula E blockchain game and NFTs, expands REVV Token ecosystem
6 November 2020: Animoca Brands Corporation Limited (“Animoca Brands” or the “Company”) is pleased to announce that it has secured a digital content licence agreement with Formula E Operations Limited (“Formula E”) to develop a blockchain game and non-fungible tokens (NFTs) based on the world’s first all-electric single-seater racing series. The new game will utilise the Company’s REVV Token as its primary in-game currency, joining a growing decentralised REVV ecosystem that already includes other leading global motorsport brands Formula 1® and MotoGP™.
The ABB FIA Formula E World Championship showcases industry-leading technology and blends the real and virtual worlds, on and off the racetrack. Interactive racing features such as ATTACK MODE and FANBOOST are fully integrated into the sporting product, while Formula E’s debut esports series, which ran earlier in 2020, offered a real-life driving opportunity for the winning sim racer.
Founded to counteract climate change by accelerating the adoption of electric vehicles, Formula E is the first sport in the world to be certified as net zero carbon and has more automotive manufacturers on the grid than any other racing series. In its six season history, Formula E has become recognised as a purpose-driven innovator that works closely with top global carmakers and commercial partners to develop electric vehicles and sustainable mobility technologies that improve the performance and efficiency of electric road cars.
Animoca Brands is delighted to have signed a multi-year partnership with Formula E with a non-exclusive worldwide licence that will enable Animoca Brands to develop a blockchain game and associated NFTs using the intellectual properties of Formula E, including the World Championship’s teams, sponsors, drivers, cars, and tracks.
The Formula E blockchain game will have a collectible component based on NFTs, which will include cars, drivers, and race tracks, and a racing component that utilises those NFTs. The game will use REVV (the ERC-20 utility token for branded motorsport blockchain games that are produced by Animoca Brands) as the primary in-game currency.
The REVV Token is designed to enable true digital ownership of game assets, giving players freedom and control over in-game content. Supporting games include F1® Delta Time, a blockchain game based on MotoGP™ (initial features releasing in Q4 2020), and now the Formula E blockchain game, expected to begin launching in 2021. REVV is currently available for purchase on multiple exchanges and from its website at www.revvmotorsport.com.
Like other products in the REVV Token ecosystem, the upcoming Formula E blockchain game will grant its users full ownership over their in-game assets, including the freedom to trade or sell the assets on third-party marketplaces. This is in contrast to traditional games, which merely provide users with a license to utilise (not own) in-game content and which typically do not allow users to trade outside of the game’s proprietary platforms or to monetize in-game assets.
About the ABB FIA Formula E Championship
The ABB FIA Formula E Championship is the closest and most competitive category in motorsport, with unpredictable and exciting electric racing in the centre of the world’s most iconic cities.
Formula E is the fastest-growing series in motorsport and boasts the best roster in racing, where renowned road car manufacturers and automotive brands battle it out for points, position and the ultimate prize to be crowned champion.
Though it is more than just a race on the track, Formula E is also a proving ground and platform with a higher purpose - to test new technologies, drive development to the production line and put more electric cars on the road.
By using the spectacle of sport, the ABB FIA Formula E Championship is sending a powerful message to speed-up the switch to electric, in a bid to counteract climate change and address the devastating effects of air pollution. www.FIAFormulaE.com
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About Animoca Brands
Animoca Brands is a leader in the field of digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of products including the REVV token, games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes, as well as products utilizing popular intellectual properties such as Formula 1®, Marvel, Garfield, Snoopy, Thomas & Friends™, Power Rangers, MotoGP™, Formula E, and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, United States, South Korea, Finland, Argentina, and the Czech Republic. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.
Original contents copyright © Formula E Operations Ltd 2020.
All photographs courtesy of Formula E.
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Edoardo Mortara (ROKiT Venturi Racing) at Round 4 of the ABB Formula E Race at Home Challenge in support of UNICEF