The NFT game F1 Delta Time is out. In previous years, it sold NFTs, some of which cost the equivalent of hundreds of thousands of euros. Players who have invested are now left without support and have a replacement in a very different game.
What kind of game is this? Delta Time was a racing game officially licensed by Formula 1. The game started in 2019 as one of the first NFT games ever. For example, players could invest in race cars to drive in a top-down view.
On March 15, 2022, Delta Time announced in a statement that the service would be discontinued as early as March 16. According to statements, the license could not be renewed and therefore no longer continues.
So the game closed pretty much overnight and the players only had one day to respond. If you do not know exactly what NFTs and cryptocurrencies are all about, you can find out more in our specialty:
NFT is the new trend in gaming, companies are worth billions of dollars – but why?
What are these NFTs? In 2019, Delta Time already sold NFTs for 415.9 Ethereum, or the equivalent of over 102,000 euros at the time (via decrypt.io). However, prices continued to rise over the months and years.
According to racefans.net, in March 2021, a record price of over 262,000 euros was achieved with a single NFT. At the time, however, the profits went to a donation fund for the Australian fire disaster.
Compared to certain NFT bricks, which are worth significantly more, the cars were probably still relatively cheap. But the players now have a bit of that, after all, the foundation is missing.
NFTs for 260,000 euros are simply exchanged
What happens to the NFTs? Basically, all cars are still owned by the players. After all, the principle behind NFTs is that people actually own their digital objects.
It remains to be seen how the market for these NFT cars will develop. A complete loss of value for investors would be possible. But in the speculative NFT environment, further increases in value would also be possible – even if the vehicles can no longer be used.
Are the players losing everything now? Delta Time operators promise players “spare cars” for another game: REVV Racing. If players want to swap their NFTs, there is an offer to do so.
Compensation is said to be based on the original rarity and power of the corresponding Delta Time car.
These can be exchanged for a “Race Pass”. Players must be able to trade or bet with these. Among other things, they have the opportunity to receive REVV – an in-game cryptocurrency on the Polygon blockchain.
Players can switch from April 30 to July 31, 2022. However, the prices at REVV Racing vary greatly.
On the OpenSea.io platform, there are some offers of 100 trillion ETH (equivalent to 321 trillion euros), but they should not be taken seriously. The top price for the otherwise most expensive cars is around 1,000 ETH (around 3.2 million euros). However, most offers are 100 ETH and below.
Since 2021, NFTs and cryptocurrencies have been a growing trend that has been loudly criticized over and over again. MeinMMO author Maik Schneider does not think it is fair:
The harsh criticism of NFTs in games is unfair – they are more than microtransactions