NFT is not just about art collectibles. How to experience top racing games with REVV?

Written by: Funky

NFT (Non-Fungible Token) is undoubtedly the hottest topic in the blockchain industry this year: a digital artwork by artist Beeple sold for a staggering $69.34 million at Christie's, and NBA Top Shot, which records NBA stars' "highlight moments," has set a sales record of over $300 million… While the external attention is almost entirely drawn to digital artworks and collectibles NFTs, market-sensitive NFT players have discovered that game-related NFTs, especially REVV, not only allow them to experience the speed and excitement of world-class racing games but also mine and earn their own wealth during gameplay.

What is REVV? What are its application scenarios?

REVV is an ERC-20 token based on Ethereum, and like the 6,498 digital currencies currently traded on 437 cryptocurrency exchanges, it is a fungible token (a non-unique, interchangeable token). It is the application token and in-game currency issued by blockchain gaming company Animoca Brands for its authorized series of racing games. Currently, the blockchain racing games supported by REVV include Formula 1 F1® Delta Time and MotoGP™ Ignition, which launched on March 26, and it will extend to Formula E in the future.

Although Animoca Brands announced its collaboration with the world’s top auto racing event F1 to develop the blockchain game F1® Delta Time as early as March 2019, and has since raised a total of $5,289,541 from NFT sales through racing track auctions and sales of cars and parts (data from Nonfungible.com on April 7), the REVV launched on Uniswap on September 4 last year aims to expand the user base of racing game NFTs, achieve true digital ownership of game assets, and give players the freedom to manage and control their in-game property—most of which is tokenized.

Currently, REVV can be purchased on decentralized exchanges like Uniswap and Sushiswap, as well as centralized exchanges like KuCoin, Bittrex, Bithumb Global, and MXC.

What is F1® Delta Time? How to play it?

F1® Delta Time is a blockchain game developed and operated by Animoca Brands under the authorization of the F1 Formula One Racing League. The NFTs in the game, including unique cars, drivers, car parts, driver gear, or tires, use the ERC-721 standard and run on Ethereum. In F1® Delta Time, everything from drivers and cars to engines and tires exists as non-fungible tokens (NFTs) with their own attributes.

With REVV, visit the F1® Delta Time official website, select the Ethereum mainnet (Note: In the future, it will migrate to the Ethereum Layer 2 Polygon network focused on gaming and NFT applications to reduce gas costs and improve speed), connect your MetaMask wallet to register your player account, and then you can pay the registration fee to participate in Time Trials and Grand Prix to earn REVV rewards------

• Time Trials: There are two seasons, 2019 and 2020, held weekly on different tracks, with scores ranked based on four different tire levels (A, B, C, D) for each track. The top 10 collectively share a reward of 10,000 REVV;
• Grand Prix: Currently, both the 2019 and 2020 seasons are being held simultaneously. From March 22 to 28, in addition to the Italian Autodromo Nazionale Monza, British Silverstone, Belgian Spa-Francorchamps, and Monaco Circuit de Monaco, the Chinese Shanghai International Circuit has been added for the first time. Players will be ranked based on four different tire levels (A, B, C, D) and four different weather conditions (sunny, dry, light rain, and heavy rain) for each track, competing for 24 2020 season key prizes and 100,000 REVV rewards.

Although becoming an F1 driver and forming a team in a blockchain racing game is much easier than in reality, you still need to purchase and configure your car, familiarize yourself with the tracks, and practice your driving skills in Time Trials before competing in Grand Prix. You can purchase your desired F1 cars, car parts, tires, drivers, and driver gear on the largest NFT marketplace, OpenSea. These are all user-owned, tradable NFTs. To date, a total of 1,144 NFTs have been traded by players, totaling 25,478 F1 NFTs, with a total transaction volume of 9,426.4 ETH and an average price of 1.15 ETH (data from Opensea on April 7).

You can also purchase F1® Delta Time keys to obtain game equipment. The keys are fungible tokens officially launched at the end of last year, with a blind box nature, making it easier for you to acquire equipment and making the game easier to get into. Each key can yield 5 2020 F1® Delta Time NFTs—guaranteeing at least one car or driver. When you log into the official website and open a key in the garage channel, these 5 NFTs will be directly minted into the owner's wallet, becoming your unique digital assets. The 2020 F1® Delta Time keys were pre-sold on December 4, 2020, divided into four basic categories: legendary, epic, rare, and common. All 1,300 keys sold out within 5 hours, with total sales of 44,480,000 REVV (approximately $1.3 million at the time). After the last sale of the 2020 keys on the official website from February 4 to March 13 this year, the official will no longer sell them. If you want to obtain them, you must acquire them through the secondary market or participate in games or staking activities.

About Staking and Auctions

Of course, you can also choose not to play the game and simply stake REVV or use REVV to purchase racing NFTs to earn passive income through mining and other DeFi functions. Unlike other blockchain projects using PoS consensus that reward users for staking native tokens to maintain network security, holders of F1® Delta Time racing NFTs earn REVV by staking their NFTs. The amount of REVV earned through staking is mainly determined by the rarity of the NFT; the higher the rarity, the greater the rewards.

To stake, you need at least one 2019 racing NFT. When players stake their owned NFT cars, it means temporarily transferring ownership of the car to F1® Delta Time. Players cannot use the NFT cars to compete during the staking period but will receive corresponding REVV rewards based on the staking duration and other variables.

The total allocation of REVV in the F1® Delta Time staking pool is 30 million REVV. Among them, the REVV allocation for staking 2019 NFT cars is 12,040,000 REVV, divided into two staking periods: the first period rewards a total of 2,040,000 REVV (approximately $842,800; the first round of 2019 NFT staking was launched on September 15, 2020, for a duration of 4 weeks); the second period rewards 10,000,000 REVV (the second round of 2019 NFT staking will take place from February 22 to March 23, 2021, with participants able to earn a total of 2,000,000 REVV; the third round of staking will start on March 24, with REVV rewards determined by the number of games played, transactions, and keys opened in the second round of staking).

The racing and track NFTs of F1® Delta Time are also digital collectibles that frequently break auction records and are highly sought after. On December 2, 2020, a segment of the track from the 2020 Monaco Grand Prix 1A was auctioned for over 9 million REVV (approximately $222,000), acquired by the NFT whale collector Metakovan, who also purchased Beeple's nearly $70 million NFT; on March 12, the 70th Anniversary Edition Apex Ultimate Racing NFT ended its auction on OpenSea, with a final bid of 987,000 REVV, worth $270,000, making it the highest-priced car in F1® Delta Time to date.

What is MotoGP™ Ignition? How to play it?

Starting from March 26, with REVV, you will not only experience the top racing IP of F1, which has attracted 4.1 million participants, 506 million fans, and 1.6 billion TV viewers, but also participate in the blockchain game of the world’s top motorcycle racing event, MotoGP.

Unlike F1® Delta Time, MotoGP™ Ignition is an NFT game that emphasizes both collection and racing management. Ignition Complete is the collectibles platform of MotoGP™ Ignition, where players collect legendary MotoGP riders and motorcycles, trade with other players, complete card collections, and participate in collection challenges. Collectibles will be presented in the form of NFT trading cards, and players can obtain collectible cards by purchasing card packs, with each pack randomly containing 3 cards of that theme (and if you're lucky, you might get a legendary card!). The theme of the card pack will be revealed when opened, determining the type of NFTs you receive. For example, the first batch of card packs sold starting March 26 will be themed around the 2020 season, so all cards in the pack will be based on the 2020 season, including last season's riders and motorcycles. These card packs can be opened starting April 21.

The theme of the card pack plays a central role in the types of cards to be released, and future card packs will introduce the latest championships and delve into the MotoGP™ archives, creating collectible racing stars. A second batch of MotoGP™ card packs will also be launched in mid-April.

Ignition Legends is a multiplayer racing management game in MotoGP™ Ignition. Players will face off in races, determining the riders' actions based on different laps. When falling behind in a race, you can wait for your rider to overtake in the corners and seize positions. You will see your rider gain multiple positions, their stamina decrease; you will see their confidence increase, but also their attention decrease, while newly discovered riders are desperately chasing. As a player, you need to control all of this, knowing when to keep your rider calm, when to hold positions, and when to sprint.

In addition to racing, players are also responsible for the motorcycles, maintenance, and the condition of the riders and their gear. To do this, you need to form a complete team, including mechanics and coaches, working together throughout the racing game. All these game assets (including motorcycles, riders, coaches, mechanics, and parts like mufflers, shock absorbers, and brakes) are ownable and tradable NFTs.

The two platforms, Ignition Legends and Ignition Complete, will be interoperable to some extent, allowing certain assets from one to have functions in the other. Completing a set of collectibles can bring you benefits and rewards in the game. For example, if you have a series of Valentino Rossi championship season cards, your Valentino Rossi rider's performance in the game will improve. In this way, MotoGP™ Ignition will emphasize collectibility and help players create value for the cards they own (not just the highest-rated cards).

Considering the needs of NFT players who prioritize collecting over gaming, the participation threshold for MotoGP™ Ignition is significantly lower than that of F1® Delta Time, and it is expected to attract a larger user base. As part of the REVV racing game ecosystem, MotoGP™ Ignition will not miss out on NFT staking, liquidity mining, play-to-earn models, and more.

MotoGP™ and FLOW

It is worth mentioning that MotoGP™ Ignition will be launched on the Flow blockchain, with all content and game experiences running on the Flow chain. REVV will also circulate on the Flow chain through a connecting bridge. The Flow chain is a public chain developed by Dapper Labs, the team behind the popular blockchain game + NFT CryptoKitties, focusing on blockchain gaming and NFT application scenarios, addressing the limitations of Ethereum's slow throughput and high gas fees. Animoca Brands is an investor and partner of Dapper Labs, thus confident in Flow's ability to achieve scalability without compromising decentralization, providing an unparalleled user experience for mainstream audiences. MotoGP™ Ignition will be the next major sports brand on the Flow chain after NBA Top Shot, which has the highest number of users and transaction volume to date.

At the same time, Animoca Brands has announced collaborations with Binance Smart Chain (BSC) and the Ethereum sidechain scaling solution Polygon (Matic Network), with F1® Delta Time and REVV soon to be deployed on BSC and Polygon, significantly reducing costs on the increasingly congested and expensive Ethereum network and enhancing user experience.