Staking Formula 1 NFTs to Earn REVV Tokens

Staking Formula 1 NFTs to Earn REVV Tokens

By Tomadachi | Tomadachi | 11 Sep 2020


The games developer Animoca Brands have announced that its blockchain-based Formula One racing game - F1® Delta Time - will open the staking feature on the game’s website (www.f1deltatime.com) on 15 September 2020.

Players of the game will be able to stake their official Formula 1® race car non-fungible tokens (NFTs) to earn REVV - which is an ERC-20 token  currently showing on CoinGecko at around $0.017 per token - and the main currency that is used in F1® Delta Time and other upcoming branded motorsports games.

As can be seen by the F1® registration mark, motorsports’ most popular series, Formula One (F1), officially partnered with Animoca Brands back in March 2019 to develop the racing game. 

faea2015cb649d82371ab15334fc18e8779c452d22ff42dbe5caf0bcc7d03d71.png

Image: CoinGecko

For those who wish to earn REVV by staking and then trade for other assets, REVV is currently paired with ETH and LCX Token ($LCX) on Uniswap, with Chiliz (CHZ) on the Chiliz Exchange, and with Tether (USDT) on Hotbit exchange.

From Cars to REVV

All cars in F1® Delta Time are NFTs and will have the ability to passively generate REVV through staking, with rarer cars generating higher amounts of REVV.

When players stake their car, they temporarily transfer the ownership of the cars to F1® Delta Time.

Players are not able to trade, sell or use the car NFT while it is staked, but instead receive REVV based on factors including the NFT’s rarity, how long it is staked for, and other variables.

Any new players can purchase F1® licensed race car NFTs on OpenSea and by visiting www.f1deltatime.com.

There are 5 rarity levels for cars in F1® Delta Time: Apex, Legendary, Epic, Rare, and Common. Apex cars are the most rare and valuable, as only one of each is available.

Full details of the staking initiative can be found at the project's Medium post.

8eb7d93468b123e15b7a6ac9aa5ec95ad3f78c09ffe0bb2ce093025c944289d6.png

Animoca Brand Pedigree

Animoca Brands specialises in blockchain, gamification, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products.

Doreamon

Included in the range are games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products utilising popular intellectual properties such as Formula 1®, Marvel, Garfield, Snoopy, Thomas & Friends™, Power Rangers, MotoGP, and Doraemon.

sandbox 

Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland.

Garfield

The Company has departments in Hong Kong, United States, South Korea, Finland, Argentina, and the Czech Republic.

 


Tomadachi
Tomadachi

Interested in Blockchain Tech and DLT


Tomadachi
Tomadachi

Inquisitive, open and a searcher of truth... is how I see myself. Others may not be so kind in their appraisal.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.