‘F1 Delta Time’ Offers In-Game Items Stored on Blockchain

Asia Blockchain Review
June 18, 2019

Blockchain-based racing game “F1 Delta Time,” developed by Hong Kong’s Animoca Brands, has released in-game purchases stored on the Ethereum platform, offering gamers true ownership of in-game items such as racing cars and drivers.

Blockchain Will Decentralize Ownership of In-Game Currencies

Gamers are familiar with the concept of buying in-game items or virtual money with their fiat money. These virtual assets are ultimately controlled by game developers.

However, blockchain technology can be used to store these assets via non-fungible ERC-721 tokens, which each represent a unique asset and give gamers true ownership of the items. In addition to preventing counterfeit items from upsetting the game’s economics of scarcity, it opens up the possibility of trading the items to other players or using the items across multiple titles on the same platform.

“Imagine in a shooting game, there is a gun previously owned by a famous e-sports player, or a world champion, that would probably worth more than a gun with the same functionality but was brand-new. This is the element you can now introduce in gaming because of NFT,” said Siu, co-founder and chairman of Animoca Brands.

Auction of “1-1-1” In-Game Car Fetches 415.9 ETH

F1 Delta Time offered a collectible vehicle dubbed “1-1-1” for in-game auction. A number of users participated in the auction, which recently ended at 415.9 ether (approx. US$103,000 at the current exchange rate). The vehicle has a non-fungible token, which allows players to truly own the car, which can be raced in-game.

Source: www.ejinsight.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Crypto Futures: Opening the Doors to SEA’s Crypto Market
    Defi and crypto futures addresses that market volatility, opening the door to greater crypto trading...

    December 20, 2019

    Blockchain-based CBDC: A Game Changer for SEA’s Central Banks
    In this article, we explore the concept of a CBDC and look at related developments involving central...

    December 11, 2019

    SEA: Neutralizing North Korea’s Crypto Threat
    In this article, we will be looking at the use of cryptocurrencies by North Korea, some of which may...

    November 21, 2019

    Singapore: Leading the Way for IEO in SEA
    All in all, it is clear that Singapore has seized the global IEO mantle and is leading the way for S...

    October 27, 2019

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us