F1 Delta Time (launched March 2019) is a blockchain game on Ethereum. The game is centered on the collection and trading of unique Cars, Drivers and Components.

It is licensed by Formula One, and developed and published by Animoca.^[1]

F1 Delta Time is a blockchain game licensed by Formula 1, and developed and published by Animoca.

Animoca is headquartered in Hong Kong, Animoca Brands is one of the premier mobile game developers in Asia. It has a proven track record of pairing globally recognisable brands with engaging, award-winning game design.^[2]

The game consists of a collectible element based on NFTs as well as different racing game modes, such as Time Trial and Grand Prix Mode, utilising those NFTs.

^[2]

In F1 Delta Time all cars are NFTs that have the ability to passively generate REVV through staking, with rarer cars generating higher amounts of REVV.^[2]

When players stake their cars, they temporarily transfer the ownership of the cars to F1 Delta Time.

Players are not able to trade, sell or use car NFTs while they are staked, but instead receive REVV calculated based on factors including the NFT’s rarity, length of staking, and other variables.^[2]

In March 2019, Animoca Brands Corporation Limited announced that it has secured a global licencing agreement with Formula 1 to develop and publish F1 Delta Time, a blockchain game based on the world-famous racing series.^[3]

Animoca Brands role in the partnership is to assist in driving fan engagement by developing and publishing the blockchain game F1 Delta Time.

The game has a collectible component based on non-fungible tokens (NFTs) as well as a racing component utilising those NFTs.

The first phase of the game, featuring NFTs based on Formula 1 intellectual property, was launched on 10 May 2019.^[6]

Animoca Brands believes that the licensing agreement can considerably broaden the Company's consumer reach, and it aims to drive growth and product uptake by leveraging the significant brand power of Formula 1.^[5]

Yat Siu, co-founder and chairman of Animoca Brands said:

REVV is the ERC-20 main utility token and in-game currency for branded motorsports blockchain game titles produced by Animoca Brands, including F1® Delta Time and two upcoming titles based on MotoGP™ and Formulate E.

In F1® Delta Time all cars are NFTs that have the ability to passively generate REVV through staking, with rarer cars generating higher amounts of REVV.

When players stake their cars, they temporarily transfer the ownership of the cars to F1® Delta Time.

^[3]

Players are not able to trade, sell or use car NFTs while they are staked, but instead receive REVV calculated based on factors including the NFT’s rarity, length of staking, and other variables.^[2]

On 22 February 2021, Animoca Brands announced that F1® Delta Time started the second round of Non-Fungible Token (NFT) car staking on the game’s website at www.F1DeltaTime.com. ^[1]

Gamers can now stake their official Formula 1® 2019 season race car NFTs to earn REVV tokens from a total pool of 2,000,000 REVV.

^[1]

Also, there was a special F1® Delta Time Grand Prix™ competition allows players to compete for NFTs and REVV prizes.

This special racing event ran from 22 February to 28 February 2021.

^[1]

To take advantage of staking, new players must use F1® licensed 2019 season race car NFTs (available for purchase on OpenSea).

There are 5 rarity levels for cars in F1® Delta Time: Apex, Legendary, Epic, Rare, and Common.

Apex cars are the most rare and valuable, and can generate the most REVV when being staked.^[5]

F1 Delta Time utilizes the Ethereum (ETH) token standards ERC-20 (fungible) and ERC-721 (non-fungible).^[6]

The game is designed around the finite nature of tokens, with the intent that the limited supply will drive the value of the Collectibles.

The ERC-721 standard allows the on-token design and Collectible exclusivity to be verifiable and unalterable.^[3]

The ERC-20 standard provides the basis for the meta-game and economy, which is the REV token.

REV tokens (or REVs) are used as the medium of exchange in F1 Delta Time, and are supported through a number of features - from being rewarded for completing player milestones, to being used to enter races.^[3]

It should be noted that REV is not a token exclusive to F1 Delta Time.

REV will be utilised across a number of Animoca Brands titles, increasing the overall utility of the token.^[5]

Non-Fungible Tokens

In F1 Delta Time, a Collectible - a non-fungible token [NFT] - is a piece of digital content that is unique.

As an NFT, a Collectible can be fully owned by a player, with that player having the ultimate permission to use, trade, or sell the Collectible.^[2]

The most critical game content in F1 Delta Time is comprised of NFTs: Cars, Drivers, Components, Tracks, and Trinkets, with Components referring to sets of different parts or equipment-type Collectibles that can be attached to a Car or Driver to improve their base performance.^[1]

For example, a Driver token has the attachable Components of Gloves, Suit, Boots, Helmet, and Trinket.

Each one of these Components will impact the Driver’s base Stats, granting better potential performance during the Racing Game.^[1]

Fungible Tokens

A fungible token [FT] is non-unique and mutually interchangeable.

F1 Delta Time utilizes REV as the in-game fungible token.

REV - like the Collectibles - can be fully owned by a player, but rather than acting as a piece of content within the game, REV acts as the game’s primary currency.^[3]

This currency is used in a number of ways: to purchase certain types of Collectibles, as a player reward for completing certain actions or achievements, as a fee to compete in the Racing Game, and to use as rewards for races.^[3]

Both the fungible and non-fungible tokens have a finite supply.

REV is built on the ERC-20 standard.

The total minting volume and distribution manner for REV will be shared at a later date.^[5]

There are two main classes of collectible tokens: Standalone and Composable Tokens.

Composable Tokens are designed to be combined for racing.Composable

Tokens come in two distinct categories: Primary Tokens and Component Tokens. ^[1]

Primary Tokens can be thought of as docks where Component Tokens can be attached.

Primary Tokens are represented by Cars and Drivers, while their respective set of Components are designated as Parts and Gear.^[20]

Component Tokens do not have a specific manufacturer, and are therefore available to be associated with any of the Primary Tokens, regardless of the Team.

Component Tokens donot affect the appearance of Primary Tokens.

For example, regardless of which Gear you have attached to Sebastian Vettel, the base Sebastian Vettel visual asset will look the same.^[1]

Primary Tokens are limited in their association.

Whereas Component Tokens can be attached to any Primary Token (with the limitation that Parts are limited to Cars, and Gear is limited to Drivers), Primary Tokens can only be associated with a Driver or Car belonging to the same Team.

For instance, Lewis Hamilton, who is on the Mercedes team, can only race in a Mercedes car for the Mercedes team.^[2]

Standalone Tokens such as Tracks and Trophies work independently and are not involved in any composition logic.^[3]

The anatomy of each Collectible consists of both performance and non-performance based attributes, stored on the token itself.

Non-performance based attributes include Type, SubType, Rarity, Season, Grand Prix and Team and Collection - while performance-based attributes are referred to as the Racing Stats.

^[2]

There are at least 4 Racing Stats for each of these Collectibles, with Cars and Parts having one set of Racing Stats, and Drivers and Gear having a different set of Racing Stats.^[3]

The Racing Stats will have a value between 100 - 1000, with the value being dictated by the rarity of the Collectible.

Higher rarity Collectibles have higher Racing Stats.

These attributes will impact the potential performance during the Racing Game.^[3]

Tyres have a unique set of Racing Stats that follow a similar format to the other Racing Stats found in Collectibles, but they are also designed to degrade through use.

There are 5 types of Tyres for the 2019 content Season: Hard, Medium, Soft, Intermediate, and Wet.

The performance of a Driver and Car on a Track will be altered depending on the type of Tyre that is used.

For example, if the player uses a Wet Tyre on a Dry Circuit, the overall performance possible from the Driver and Car will be lowered due to the Tyre/Track mismatch.^[3]

Tyres do not expire completely, but require a cooldown period before they can be used again.

Each Tyre has three levels of degradation, with each level offering a defined contribution to the performance.

A Tyre with no degradation will perform at 100%, but a Tyre with Level 2 degradation (degradation coming from the previous use) will only perform at 70%.

Players can either wait a set amount of time for the Tyre to return to 100%, swap in another 100% Tyre, or use REVs to restore the Tyre to 100%.^[1]

A Trinket is a non-typical and rare type of Gear.

It represents a lucky charm that drivers might bring with them when they race.^[1]

Trinkets may carry specific effects such as standard boosts to Racing Stats or more general bonuses.

For example, a Trinket could grant a 2% increase to all Grip Racing Stats, or mitigate the penalties resulting from using the wrong Tyres for a particular type of weather.^[3]

Typically, Trinkets are the best way to increase the Luck factor in a racing composition.

The core attributes of a Track relate to the weather.

Each Track will have a specific weather Stat, which considers a combination of basic weather types: Dry, Wet, Damp.

The type of weather will inform players as to which Tyres they should have prepared for racing on a Track.^[3]

For example, if the Track weather is set to Damp, the player may want to set Intermediate Tyres to get the highest possible performance from their car.

Not all weather attributes are static.

Some Tracks may contain a variable to the weather, such as allowing for Damp Track to become Wet during the race.

This weather variable ties directly to the pit strategy that a player may choose.^[2]

A variable weather attribute does not guarantee that the weather will change, but provides a chance for it to do so.

The chance of the weather change is also viewable on the Track Token, represented as a percentage.^[3]

Unlike the other Tokens, Trophies do not affect Racing Stats or the Racing Game from a play or performance perspective.

Trophies will have a cosmetic effect in the meta-elements of the game.^[3]

Rarity is generated differently for Primary Tokens and Component Tokens.

Primary Token Rarity is partially dictated by the performance of the actual Car and Driver during an official Grand Prix, with the Collectibles generated having Stats influenced by Qualifying, Race Results, Lap Times, and other race variables.^[3]

The Rarity is dictated by the real-world results of relevant drivers and cars during an actual Formula 1 Grand Prix.

If a particular driver and car wins, or places high in the results, the corresponding Collectibles will be minted with higher Stats and also higher Rarity.^[3]

For all Collectibles, there are 4 standard Rarity levels: Common (white), Epic (purple), Legendary (gold) and Apex (prismatic), with rarity spread on a spectrum inversely to Racing Stats.

Legendary NFTs will have higher Racing Stats and lowered availability, Common NFTs will have lower Racing Stats, but higher availability.

Apex rarity level is reserved for exclusive and one-of-a-kind NFTs released on special occasions.^[3]

Trinkets and Tracks are minted in a far lower volume than the gameplay related Collectibles.

With their Rarity levels not following the standard levels of Rarity.

Each Collectible has at least 4 Stats that will potentially impact the performance of the Car and Driver during the Racing Game.

The combination of Stats will affect key factors typical of a motorsport race, including speed, acceleration, cornering, recovery, and others.

● Max Speed: This Stat governs the total straight line speed of a Car.

Having a high value here is important in circuits that have a high number of straights.

● Acceleration: This governs the amount of time it takes for your Car to hit higher speeds.

If a circuit has a high number of corners, or your Car overbrakes or miscorners, having high Acceleration will bring your Car back to the optimum pace at the quickest rate.

● Grip: This Stat will affect how your Car corners.

Circuits with a high number of corners, or Cars with high Max Speed, will find it particularly beneficial to have a high Grip Stat.

● Luck: Luck is applied in a number of different ways.

It can be applied in the form of a minor boost to Stats, or it can affect a Track’s variable weather.

The effects of Luck can expand beyond this.

● Concentration: Concentration affects how Drivers recover from mistakes.

If your Driver slips and makes unforced errors, their Concentration stat will govern how quickly they will be able to realign.

● Aggression: An Aggressive Driver will be more inclined to go at higher speeds, which is not always advantageous - without the right type of Car, this makes it easier to move away from the optimum raceline.

● Stamina: A high Stamina Stat means that the Driver’s performance for the duration of the race will be consistent, with a lower Stat meaning that your Driver could trigger more unforced errors as the race progresses.

● Luck: Luck doesn’t vary between Collectible types.

Whether applied to a Car, Driver, Component or Trinket, Luck will have the same scale of potential impacts.

TheseStats are part of the on-chain information recorded on the ERC-721 non-fungible tokens.

They are not alterable after the token has been minted.

All of the Collectibles in F1® Delta Time can carry a Collection attribute.

This attribute does not have an impact on play, but identifies the Collectible as being extremely rare.

Not every Collectible will be associated with a Collection.

If players are able to collect all of the Collectibles that are part of a Collection, they will receive a reward.

Collections can be identified in the metadata through the Collection name.

Collection rewards are only redeemable once, regardless of whether they are sold or traded, or moved into another player owned Wallet.^[6]

The minting of Collectibles is dependent on the type of Collectible.

For non-exclusive Composable Collectibles, they are minted in response to real-word race results.

This is the case for both the Primary and Component Collectibles.

Composable Generation

All standard Composable Collectibles are minted based on the results of a real-world Grand Prix.

This means that there are 21 batches of Collectibles for the 2019 season.

Before minting, data from multiple aspects of the race weekend is analyzed.

This includes: qualifying, final result, fastest laps (per-driver and overall).

This information determines how Collectibles will be assigned Rarity, and Rarity will determine the volume of tokens to be minted.^[5]

This method of generating Collectibles means that the Cars and Drivers that are Legendary, Epic or Common for one race, will be different race-to-race.

Component Collectibles will be minted alongside each Grand Prix.

This ensures that a continuous flow of Collectibles are made available as the projected player base grows.^[6]

Trinkets are considered Composable Tokens, but they will be generated at a very low natural rate, and will not necessarily be influenced by the results of a Grand Prix.

Standalone Generation

Standalone Collectibles include two types: Tracks and Trophies.

Trophies are generated in a similar manner to Trinkets, with the possibility of being generated independently of real-world races.

The volume minted will be dependent on the effect.^[3]

Initially, Tracks will be heavily limited in number: only 21 will be minted, reflecting the number of Tracks included in the Formula 1 2019 season.

Future Tracks may be minted with varied weather effects, allowing for more play variety.

There are multiple ways for players to acquire and purchase Collectibles.

Throughout the release of F1® Delta Time, we will be running a series of events and initiatives where participation can be rewarded with Collectibles.

Examples include community-based race weekend events, where correct results predictions can be rewarded with Collectibles.

The Store will be the primary point of sale for new Collectibles.

Once a Grand Prix has ended, the Collectibles that are minted as a result of that race are made available via the Store, and purchasable through a variety of methods.

Fixed-Price Sales refers to sales that happen under a predetermined price.

The price of the Collectible item or bundle, will not necessarily reflect the open market price.

It will be dependent on a number of factors including the volume available, properties, and market value.

Certain Collectibles will be purchasable via Auction.

There will be two Auction types presented: English Auctions (ascending) and Dutch Auctions (descending).

Not all items will be available via a single, direct purchase, most Collectibles may be purchasable as part of a bundle.

The majority of standard Composable Collectibles will be sold in this manner, with bundles selling in varied combinations, rarities, volume, and prices.

Bundles provide the player the opportunity to purchase a predetermined selection of content, with the content and quality contained within the bundle reported transparently.

Bundles may be composed of any Collectibles, and be of any Rarity.

Bundles will be priced based on the content within the Bundle, or sold on Auction.

Some Collectibles will be put on sale singly.

These could be listed on Auctions, or direct Fixed-Priced Sales.

This is not limited to rare items, and standard Collectibles will at times also be listed under this method of purchase

The Collectibles Game is currently in development.

While a number of features are complete, the overall feature set remains to be finalised, with additional changes and the continued evolution of features expected based on post-launch data.

Once released, the Collectibles Game will be managed as a Games-as-a-Service platform, with new content and features regularly added, to make it a truly live game experience.

The Collectibles Game will track a number of player progress elements, like the amount of Collectibles owned, value of Collectibles, quality of Collectibles, and more.

Each of the tracked progress elements will be presented as Leaderboards, so that players can compete for rankings.

Certain rewards will be granted to players who hold Leaderboard positions for specific periods of time, or by simply attaining a position for the first time.

Rewards will be assigned based on loot tables including a variety of Collectibles or REV.

The type of reward will be directly influenced by the scale of the achievement.

The Collectibles that you have obtained will go towards completing achievements, with the game awarding Merits when specific milestones are achieved.

These rewards could be other Collectibles or REV, the quality and amount being dependent on the type of Merit earned.

For example, a Merit might require a player to collect a complete set of Car Collectibles, one for each team, or a complete team including both Drivers and a Car.

In the Factory, players will be able to change the composition of their Cars and Drivers, based on their owned Collectibles.

Like the rest of the Collectibles Game, the Factory is also tied to the Leaderboard and Collection Merit systems.

The Factory is also directly related to the Racing Game.

Cars and Drivers assembled in the Factory are usable in the Racing Game.

The Racing Game section of F1 Delta Time is where players will combine the performance of their Car and Driver with their own skill at playing the game.^[1]

To enter a race, players require a Car, Driver and Tyres.

The other Components are optional.

When players have constructed their perfect combination of Car and Driver, and any Components, they are ready to race.^[3]

The Racing game is an asynchronous multiplayer Grand Prix that will play out on one of the Formula 1 2019 Tracks.

To participate in the Grand Prix, players will need to pay the entry fee in REV tokens.

Upon entering the race, the player will have to complete a Warm-Up Lap and a Qualifying Lap.

This core gameplay is performed by accelerating and braking through the track.

Corners have optimum braking and acceleration points that are marked as zones, with the player receiving better momentum and speed if the braking or acceleration is done within the optimum point of the zone.

This play session will be performed from a 2.5D or isometric-like perspective, so that the player can view all of the track at once.

The braking and acceleration zones will be marked on the track, with colour gradients signifying the optimum points.

For example, green zones will be where the player should aim their braking, while the yellow or red zones will impact momentum and the potential lap time.

Each corner - on both entrance and exit - will have zone applied to it.^[5]

The accuracy and performance of the Driver and Car will be affected by the Stats of the Car, the Driver and all of the active attached Components.

The higher Stats will grant larger zones for braking and accelerating, meaning that the margin of error increases for better Cars and Drivers.

Data will be taken from the Warm-Up Lap, Qualifying Lap, Car and Driver configuration, and Track attributes, to then simulate the final results of the race.

The gameplay session will contribute to around 80% of this potential result, with the other 20% coming from the remaining data.

After the race is complete, the REV tokens used as the entry fee will be distributed to the winners of the race, with the amount awarded determined by their race performance.

Matchmaking will be in place, so that players are more likely matched to others who have a similar Car and Driver Stat base.

Allowing for more even competition.

In F1 Delta Time, the Tracks are also Collectibles.

All of the races that happen in the game are performed on these Track Collectibles.

Owners of Tracks are in a unique position to collect dividends, in the form of REV, for hosting races.

To enter a race, players are required to pay an amount of REV as an entry fee.

When a race is completed, the REV pool composed of these entry fees is distributed among the race participants and the Track owner.

This allows Track owners to receive a passive income of REV.

Owners of Tracks are also able to set entry fee limits for their Tracks.

There will be a minimum fee enforced to ensure that operational costs are covered, but upper limits are at the discretion of the Track’s owner.

Tracks are extremely rare Collectibles, with the initial run being limited to 21 - one for each official Grand Prix race in the 2019 season.

Each Track Collectible will also contain the weather variable, with the variable being dependent on the real world location of the race.

The game client will handle race requests so that Track owners do not have to manually accept requests.

A Track can host multiple concurrent races.

On March 9, 2021, F1 Delta Time has launched the sale of NFTs for all racing events, which were surprisingly sold out within 28 minutes of the start of the sale.

The game sold out 800 Rare Formula 1 2020 event segment NFTs for 8,000,000 REVV, worth about US$1.8 million at the time of sale.

DappRadar, which runs its own NFT Overview application, claims that F1 Delta Time earned a total of $ 1.8 million in this short time by selling all 800 NFTs.

The result of the sale was also the situation when the project reached the sixth place in the table of the hottest NFT collections.

F1 Delta Time auctioned the ultra-rare “70th Anniversary Edition” Apex race car non-fungible token (NFT) for 987,000 REVV, worth approximately US$265,000 at time of sale, surpassing the previous price record for a virtual car established in 2019 by the “1-1-1” auction.

The “70th Anniversary Edition” is a unique Apex race car NFT that celebrates the Formula 1 2020 season, which marked the 70th anniversary of Formula 1.

On 12 March 2021, with a winning bid of 987,000 REVV, worth approximately US$265,000 at time of sale, the “70th Anniversary Edition” established new records for most expensive licensed F1® NFT and most expensive virtual car.

These records were broken after just one day on 13 March 2021, when the “Australia Edition 2020” Apex car NFT was acquired in an aftermarket transaction for 1,221,221 REVV, worth approximately US$288,000 at time of sale.

The “Australia Edition 2020” car was issued by F1 Delta Time last year to raise funds for the bushfires that swept through much of Australia.