The new blockchain-based game F1 Delta Time auctioned the first virtual Formula 1 (F1) racing car (1-1-1) for 415.9 ether (ETH) or $110,600, at the time of sale, to an unknown user "09E282" after 31 bids.
The 1-1-1 virtual F1 car has a sleek aerodynamic design of black carbon composite, rose gold plating, and swathes of glittering diamond crust. Apart from the striking and unconventional shell, the performance is shown as above the maximum levels delivering unmatched speed, acceleration, and grip.
The 1-1-1 digital collectible is the very first official Formula 1 non-fungible token (NFT) and is the first car to be released for F1 Delta Time for auction. This is a hyper-limited edition and there is just one single 1-1-1.
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 for real money, collect them, or use them in F1 Delta Time when the racing component launches.
The 1-1-1 and other NFTs in F1 Delta Time will forever be owned by their owners regardless of any decisions taken by the game, Formula 1, or Animoca Brands.
In late March, 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 game consists of a collectible component based on NFTs based on F1 as well as a racing component utilizing those NFTs. The collectible component is available now in the first phase, and the racing component will launch 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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