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In the letter
- A piece of a virtual racing track in the F1 blockchain-based game Delta Time sold for $ 223,000.
- The share was auctioned in the form of a non-fungible Ethereum token.
- According to the developers, this is the most expensive NFT purchase to date.
A share in a virtual racing track in a blockchain-based game was auctioned for over 9 million REVV tokens (approximately $ 223,000).
The game is F1 Delta Time, developed by Animoca Brands, and the specific track piece of the Circuit de Monaco. The share was sold in the form of a non-fungible token (NFT), the company revealed today.
The auction winner paid 9,081,752 Animoca’s REVV tokens (currently worth 375.56 ETH or around $ 223,000), potentially making it the largest NFT purchase to date.
“This is the highest price ever paid for a game-based NFT, a branded game NFT, and potentially any NFT,” said Animoca Brands, in a press release shared with Decrypt.
How Decrypt has explained, unlike “common” crypto tokens, NFTs contain identifying information recorded in their smart contracts. This data makes each NFT different and unique, and this is what makes them non-fungible and non-interchangeable.
NFTs can represent anything that can be digitized, from artwork to gaming products. Therefore, the prices of such tokens are potentially driven by their uniqueness and scarcity.
In the case of F1 Delta Time, all the main assets of the game are represented by NFTs. That is to say, the virtual track of the Circuit de Monaco is made up of 330 of these tokens divided into four levels, from “Rare” to “Apex”. Each token represents a share in the virtual track, giving its owner a set of privileges.
This newly sold NFT was in the “Apex” tier and will reward its owner with 5% of all gaming commissions and 4.2% of elite staking returns from player deposits, both of which are paid in REVV utility tokens. by Animoca.
“The trace segment is a non-fungible token (NFT) that represents a fractional ownership of 5% in the Circuit de Monaco trace within the F1® Delta Time blockchain game,” explained Animoca Brands.
The company noted that not only did the last sale significantly exceed the sum paid for the first official Formula 1 NFT, the 1-1-1 Apex car, which became the most expensive NFT of 2019—But it also set a new all-time high price record for NFTs in general.
How Decrypt reported, previous notable NFT purchases include CryptoKitties’ “Dragon” cat (sold in 2018 for 600 ETH or $ 170,000), a rare digital artwork of Batman (540 ETH – or $ 202,000) and a Decentraland package that was auctioned for 2.77 million MANA ($ 215,000).
Clearly, there is some gold in their NFT thar.
