Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Decrypt | Andrew Hayward | Mar 15, 2022
Formula 1 was one of the first sports leagues to enter the blockchain space, with the launch of Animoca Brands’ F1 Delta Time game in 2019. But after three years, the Ethereum-based game is ending.
Animoca announced the unexpected news today, revealing that the game will abruptly cease operations at the end of Wednesday. According to a blog post, the company had “not been able to renew our license” with the racing league. It’s unclear how many total players the game amassed—data from leading NFT marketplace OpenSea suggests that only about 1,800 unique wallets owned NFTs from the game.
But F1 Delta Time’s sudden demise presents an interesting dilemma: What happens when a licensed crypto game or decentralized app (dapp)—which has sold user-owned assets as NFTs to its players—is shuttered because of an IP holder’s decision?
In this case, Animoca Brands hopes to appease NFT owners by offering replacement NFTs in another of its crypto racing games, REVV Racing, as well as other perks and rewards within the wider gaming ecosystem being built around its REVV token.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
![]() | ![]() | ![]() |
Support NCFA by Following us on Twitter!Follow @NCFACanada ![]() |
January 25th, 2023
June 1st, 2021
September 9th, 2020
July 17th, 2020
August 22nd, 2019
September 26th, 2018
July 9th, 2018
March 19th, 2018
January 3rd, 2018
September 25th, 2017
July 31st, 2017
June 20th, 2017
May 10th, 2017
May 9th, 2017
December 14th, 2016
September 13th, 2016
NCFA Canada
Craig Asano
CEO and Executive Director
casano@ncfacanada.org
ncfacanada.org
Leave a Reply