A section of a racetrack in F1 Delta Time, a non-fungible token-powered motorsport game from Animoca Brands, was auctioned for more than 9 million REVV tokens from the company valued at approximately $ 222,000. According to Animoca, it’s a record price for an in-game NFT.
The “Formula 1 Grand Prix of Monaco 2020 1A” token was auctioned on the NFT Open Sea marketplace. The call took place from November 29th to December 2nd. The token offers its owner an “Apex” share in the Circuit de Monaco of the game track.
Congratulations to @MetaKovan and the proud @metapurse owners of the @ F1DeltaTime 1-1-1 and now the A-1 track that won a record $ 9 million REVV (approx. $ 222,000 USD) and runner-up @TonyGuoga Super The team was almost sold! @REVV_Token @twobadour https://t.co/lNFRL9B9Ro
– Yat Siu (@ysiu) December 2, 2020
Much like how users can purchase virtual land in Decentraland or The Sandbox, F1 Delta Time’s in-game tracks are only marginally marked for sale to the game’s players. The Circuit de Monaco includes 330 tokens with four different rarities: Rare, Legendary, Epic and Apex.
Delta Time Track NFT owners will receive dividends from all activities that take place on their track, including race entry fees and proceeds from “Elite Events” where participants must use REVV to enter.
Depending on their rarity, Track NFTs earn either 5%, 7%, 13%, or 25% of gaming fees in addition to 3%, 5%, 11%, or 21% of Elite Wagering Returns.
Apex tokens are extremely rare and grant their owner a share of 5% of the total in-game route. The closing price of the auction therefore implies that the entire track could be worth $ 4.44 million
The Monaco 1A Track Token is the first F1 Delta Time Track NFT to be auctioned. The token was sold to MetaKovan, who also made history by buying a tokenized Apex racing car from Animoca for USD 111,111 last year.
In an interview with Cointelegraph, the co-founder and director of Animoca Brands, Yat Siu, stated that the Apex token is “the most expensive gaming NFT” by Fiat value.
NFTs have gained significant momentum in recent years. Multiple game-based tokens fetch six-figure prices.
In September 2018, the CryptoKitties collectible “Dragon” sold for $ 172,000 just two months before a virtual property in Decentraland changed hands for $ 215,000.