The Historic Track Token Auction
In a groundbreaking move for the intersection of sports and digital assets, a segment of the virtual Circuit de Monaco track in the game F1 Delta Time has been auctioned off for a staggering 9 million REVV tokens, translating to about $222,000. This bid marks a new record for in-game NFTs, leaving many racing fans and gamers alike in awe.
Meet the Token: Formula 1 Grand Prix de Monaco 2020 1A
This unique token, named “Formula 1 Grand Prix de Monaco 2020 1A,” was put up for auction on the NFT marketplace Open Sea from November 29 to December 2. The lucky owner will get an “Apex” share in this famous racing circuit, adding a layer of prestige for any digital collector.
Congratulations, Record Holders!
As the dust settled on this high-stakes auction, congratulations were in order for @MetaKovan of @metapurse, the new proud owner of the top-notch track. They have joined the history books alongside a previous purchase of a tokenized Apex race car for $111,111 from Animoca. Big shoutout to the runner-up, @TonyGuoga from the Super Fast Team, who were certainly vying hard!
What Makes F1 Delta Time Unique?
F1 Delta Time operates similarly to other virtual real estate platforms like Decentraland or The Sandbox. In this unique world, tracks are fractionally tokenized and divided into multiple rarities: Rare, Legendary, Epic, and Apex. The Monaco circuit boasts a total of 330 tokens spanning these categories, each offering its own lucrative benefits.
Mechanics of Earning through Track Ownership
Token owners are not just sitting around admiring their digital trophies. Each segment of the track they own allows for dividends from all racetrack activities, including entry fees and stakes from exclusive events. Depending on rarity, track owners can earn returns ranging from 5% to 25% on gameplay fees and 3% to 21% on elite staking yields. The Apex tokens emerge as the most valuable, entitling owners to a 5% stake in the complete in-game track.
The Financial Implications of the Auction
The auction’s final price implies that the entire Circuit de Monaco track could be valued at a jaw-dropping $4.44 million. With such staggering figures, Yat Siu, the co-founder and director of Animoca Brands, confidently claims that the Apex token is now crowned as “the most expensive gaming NFT” based on fiat currency value.
The NFT Explosion in Gaming
Throughout these last few years, NFTs have made quite the splash, especially in the gaming world. With several tokens reaching six-figure price points, it’s evident that digital ownership is here to stay. Comparatively, in September 2018, the famous CryptoKitties collectible “Dragon” sold for $172,000, while a virtual land parcel in Decentraland fetched $215,000. It seems like the only way is up for these digital assets!
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