‘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
South Korean Mobile Service Provider Unveils Blockchain OS
Union Mobile, a major mobile service provider in South Korea, has recently unveiled its blockchain o...

September 22, 2019

UK, US Top List of Most Crypto Exchanges by Country followed by Hong Kong and Singapore
Blockchain analytics platform Crystal has revealed a breakdown of the countries with the most regist...

September 22, 2019

Thai Oil Major PTT to Create Renewable Energy Blockchain Platform
Thai energy giant PTT has partnered with Energy Web Foundation to launch a blockchain-based platform...

September 22, 2019

Five Privacy Coins to be Delisted at OKEx South Korea
The South Korean branch of OKEx has announced it will be delisting privacy coins including Dash and ...

September 21, 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