Formula 1 game kick starts crate sales for Ethereum-based items

Ethereum-powered blockchain game F1 Delta Time is gearing up for release, and game publisher Animoca Brands and Formula One hope to rev up some early excitement with the sale of in-game item crates.

Beginning today, the crate sale lets players purchase ERC-721 non-fungible token (NFT) bundles of varying rarity ahead of the official release of the game, letting them begin amassing a collection of cars, parts, drivers, and racing gear.

There are four crate types available for purchase, ranging from Common ($18) to Legendary ($450), each with a different dispersion of NFT rarity levels. The sale runs through March 9, with 6,500 total crates up for grabs and prices set to increase from the current levels on March 3.

Additionally, crate purchasers will be entered to win one of three limited-edition cars from the “Four Guardians Apex” set inspired by the Chinese New Year, with the number of entry tickets determined by the rarity level of the crate. The first car in the series, the “China Edition 2019 Azure Dragon,” was previously sold at auction for 91 ETH (about $22,882 as of this writing).

Hong Kong-based multinational Animoca Brands has previously auctioned off other cars, including the original “1-1-1” car that sold for 415.9 ETH in May 2019—about $113,000 at the time. Other in-game car auctions, including the aforementioned China Edition 2019 Azure Dragon, have generated an additional total of about 509 ETH to date.

F1 Delta Time is set to release its racing component sometime early this year, with officially-licensed F1 teams, drivers, and cars represented in the game. Players will be able to stake their NFTs to earn in-game REV currency, which is an ERC-20 fungible token.