F1 Delta Time Blockchain Game To Auction 10 Official F1 Team Cars

By RTTNews Staff Writer | Published: 11/25/2019 9:46 AM ET

Blockchain-based game F1 Delta Time is conducting the first ever auction of the ten digital official Formula 1 or F1 team cars, with the cars being represented by F1 non-fungible tokens or NFTs.

NFTs for all the ten official F1 team cars will go on auction at the same time on November 28, which is called the Pole Position Auction.

NFTs are pieces of tokenized content that are verifiably unique, with the authenticity, rarity, scarcity, and other properties of NFTs independently guaranteed, verified, and secured on blockchain.

Each NFT will be wholly owned by a player, with that player having the ultimate permission to use, trade or sell it. They can sell it for real money, collect them, or use them in F1 Delta Time when the racing component of the game launches.

The auctions will be held in descending Dutch format, with a starting price of 30 ether (ETH). The performance indices of the ten F1 team cars are similar and will be disclosed next week.

The ten F1 team cars involved in the auction are Mercedes AMG W10, Ferrari SF90, Red Bull Racing RB15, McLaren MCL34, Renault R.S. 19, Racing Point RP19, Toro Rosso STR14, Alfa Romeo Racing C38, Haas VF-19 and Williams FW42.

Meanwhile, F1 Delta Time is currently conducting Pole Position Contest running from now until November 27, which will enable the fans to predict the order of sale in the auction to win ETH and licensed F1 digital car gear collectibles in NFTs.

F1 Delta Time auctioned the first virtual F1 racing car (1-1-1) for 415.9 ETH or $110,600 in May to an unknown user "09E282" after 31 bids. The 1-1-1 digital collectible was the very first official F1 NFT and is the first car to be released for F1 Delta Time for auction.

In late March, blockchain startup Animoca Brands struck a deal with F1 to develop and publish the F1 Delta Time blockchain game based on NFTs. The game is based on the world-famous annual F1 racing series. The NFT collectible component is available now in the first phase, launched in May, and the racing component will be launched in early 2020.

To participate in the auction for the NFTs, one requires a web browser that supports Ethereum wallets, as well as an Ethereum wallet, with bids to be made in ether.

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

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