Monday, January 20, 2020

F1 Delta Time, New Formula One-Based Game To Hit The Blockchain

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Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.

Formula One– the highest class of single-seater auto racing founded by Fédération Internationale de l’Automobile– is planning to launch its own blockchain-based game wherein racing can get even more exciting.

F1 Delta Time To Introduce For Younger Generation

F1 Delta Time is expected to be launch on May 10 in which its first phase will be made available to the public. According to Liberty Media– the company that owns Formula One, the plan to try and conquer the world of blockchain is mainly their tactic, to get the younger audiences to watch and support their shows.

With the use of their F1 Delta Time, the company expects to gain more attention towards millennials since their target audience ranges from their generation. Excitingly, since the game will be controlled by blockchain– a distributed ledger system famous for powering cryptocurrencies like Bitcoin– F1 Delta Time will also introduce non-fungible tokens (NFTs).

Formula One’s Own Blockchain Game

NFTs are blockchain-based token that is use in order for the owners and gamers to have their own identity in the game. It is entirely unique and F1 claims that “all cars, drivers and components in the game are NFTs.” Once an owner made an access with his account, he can trade, sell, and use his unique character or skills in which he has the only ability to do so.

Aside from this, the company also promised to have a “special race day in order for the users to increase their chances of winning races” however produced “in limited quantities as determined by their level of rarity.”

The game will not be possible without Formula One’s blockchain partner,
Hong Kong-based gaming firm Animoca Brands. Yat Siu, co-founder, and chairman of Animoca Brands expressed his gratitude to the racing company and promised to give his best as their partner.

“Securing a partnership to make blockchain games with Formula 1 – one of the most recognized brands in sport – is a notable achievement. We will leverage Formula 1’s considerable global reach to drive product uptake and revenue growth as together we seek to increase consumer exposure to Blockchain.”

Lowered TV Audiences For The Racing Channel

It was reported last year that Formula One had been struggling with its TV audiences since the average viewers of their shows in Italy and Brazil– which have the highest audiences– slowly spiraled down.

Formula One admitted that the lost of their audiences had a major impact on their revenues in the market. Interestingly, it looks like blockchain became their weapon to gain back what they lost for a while. Will it work?

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