Formula One Enters Partnership to Launch Ethereum Based Blockchain Game

One of the world’s best known sports brand has partnered with a blockchain startup, Animoca Brands, to launch an F1 racing game on ethereum’s public blockchain.

Animoca Brands says they’ve secured a licencing agreement to develop and publishing the blockchain game F1 Delta Time.

The game, which they say features non-fungible tokens (NFTs) based on Formula 1 intellectual property, will be launched on the 10th of May 2019.

“Securing a partnership to make blockchain games with Formula 1 – one of the most recognised brands in sport – is a notable achievement,” said Yat Siu, co-founder and chairman of Animoca Brands, before adding:

“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.”

More detail will be provided next month, with the site just launched. In describing the game, it says:

“The game will center around the collection and trading of unique Cars, Drivers and Components – all of which will exist as non-fungible tokens (NFTs) based on the ERC-721 token standard.

Fungible Tokens (FTs) based on the ERC-20 token standard will function as a currency in the game, and will be equally necessary as they will be used in transactions such as paying entry fees and purchasing certain items.”

We were unable to speak to the team in time for publishing, but a representative from F1 Delta Time says:

“We’re currently focused on building the core of the game itself. The full Delta Time game is made of several parts, and our primary target initially is to make sure this core is a fun experience.”

Formula One, or their parent company Liberty Media, has not yet responded to confirm the partnership, with it unclear at this stage whether they’ve just bought the branding rights or whether there is closer collaboration.

This is the first big name, however, to in any way make an entrance into blockchain gaming, with Cryptokitties now “morphing” into Formula One racing cars.