Animoca to Develop Blockchain Game Around Formula 1®(“F1) Car Racing Sport

Animoca to Develop Blockchain Game Around Formula 1®(“F1) Car Racing Sport

Formula 1®

According to a recent report, Animoca Brands Corporation Limited (ASX: AB1, “the Company”) has made it known that it has been granted a global licencing agreement by Formula 1®(“F1) to create and release a blockchain game called F1® Delta Time. The game is based on the world-renowned racing series.

Formula 1®(“F1) Attracts 1.6 Billion Television Viewers

F1® is the most popular sporting series which takes place every year and it is regarded to be the highest point of motorsport. The sport has a footmark all over the world as it has hosted twenty-one races in twenty-one countries across 5 continents. In its 9 month period of yearly racing, it attracts 1.6 billion television viewers, 4.1 million race attendees, and 506 million fans. Due to its high number of fans, the sport has been able to attract many highly reputed companies such as DHL, Heineken, Pirelli, Emirates, Rolex, and several others. Companies which the sport has formed broadcast partnerships with include Fox Sports, ESPN, and Sky.

Liberty Media which is a multinational company with operations in 30 countries purchased F1 in 2016 and has since been improving fan experience by becoming partners with the most innovative startups in the world, increasing access to content and deeper fan engagement, and investing in new technologies.

The licencing agreement with Animoca Brands allows the company to help with driving fan engagement through the creation and release of the blockchain game, F1 Delta Time.
The game is expected to have a collectable component based on non-fungible tokens (NFTs) as well as a racing compartment which makes use of these NFTs. The first section of the game which has NFTs based on Formula 1 intellectual property is set to be released on the 10th if May 2019.

While stating its reason for developing the game, Animoca Brands revealed that it is of the belief that the licencing agreement with help increases the reach of the company’s clients and its focus is to enhance growth and product uptake by leveraging the important power of the Formula 1 brand.