LONDON: Formula 1 will be launching a blockchain-based video game called ‘F1 Delta Time’ as it hasa awarded the global licensing rights for the same to Animoca Brands Corporation Limited.
F1 is world’s most popular annual sporting series as it hosts 21 races in 21 countries across five continents. During the nine months of racing per year, F1 attracts 1.6 billion television viewers, 506 million fans and 4.1 million race attendees. The sport boasts the world’s most valuable sporting fanbase and attracts highly prestigious companies as sponsors, including Pirelli, DHL, Rolex, Emirates and Heineken, among various others. Its broadcast partners include Sky, Fox Sports, and ESPN.
As part of the licensing agreement, Animoca Brands will assist in driving fan engagement by developing and publishing the blockchain game. The game will have a collectible component based on non-fungible tokens (NFTs) as well as a racing component utilising those NFTs.
The first phase of the game, featuring NFTs based on Formula 1 intellectual property, will be launched on 10 May 2019. Animoca Brands believes that the licensing agreement can considerably broaden the company’s consumer reach, and it aims to drive growth and product uptake by leveraging the significant brand power of Formula 1.
Animoca co-founder and chairman Yat Siu stated: “Securing a partnership to make blockchain games with Formula 1 – one of the most recognised brands in sport – is a notable achievement. We will leverage Formula 1’s considerable global reach to drive product uptake and revenue growth as together we seek to increase consumer exposure to blockchain.”
