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Formula One launches a new game via Animoca Brands, which will offer collectibles based on strings of blocks. The creators hope that the racing game will prove to the industry that blockchain games are now viable.
Formula 1 is looking to expand its audience and attract a new base of young fans. Its owners, Liberty Media, have announced that they will launch their own blockchain-based official game next month.
The company is partnering with Hong Kong based entertainment company Animoca Brands to launch a game called F1 Delta Time.
Non-fungible Formula One chips
The game will include collectibles that will be represented as non-fungible tokens (NFTs) on the blockchain. The races will be based on the exchange and the acquisition of these chips. As an NFT, each token will be unique and players will be able to sell, use or trade them.
Each NFT in F1 Delta Time will also have special attributes that will come into play on certain days, which increases the chances of winning races. The limited number of DTVs for players means that they will be rare, sometimes unique, and will encourage players to continue playing.
The first phase of the game should be launched on May 10th.
A potential breakthrough for Blockchain
Animoca Brands believes that it can draw on the 1.6 billion viewers of Formula 1 and use it as a platform to prove the viability of the blockchain-based games market. He hopes to increase consumer exposure to the blockchain using one of the best known brands in history.
Animoca Brands aligns with the goal of Liberty Media, which has also made its digital presence a priority in recent years. The company has appointed a new global digital leader in 2016 to make race data more accessible to fans. Formula 1 has even launched its own F1 TV streaming service.
Liberty Media hopes the growing number of Formula 1 fans, thanks to their new digital media push, will propel F1 Delta Time unprecedented popularity for a game based on a blockchain. If successful, this might indicate to the rest of the gaming industry that such games are now a viable consumer product.
Will you play F1 Delta Time? Will other sports franchises follow suit if they succeed? Let us know your comments below!
Images courtesy of Shutterstock.
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