The NFT game F1 Delta Time has been discontinued. In the previous years, it sold NFTs that cost several hundred thousand euros. Players who invested are now left without support and will receive compensation in a completely different game.
What kind of game is this? Delta Time was an officially licensed racing game from Formula 1. The game launched in 2019 as one of the first NFT games ever. Players could invest in racing cars to compete in a top-down perspective.
On March 15, 2022, Delta Time announced in a statement that it would cease operations on March 16. According to statements, they could not renew the license and therefore will not continue.
Thus, the game was essentially closed overnight, and players had only one day to respond. If you are not quite sure what NFTs and crypto gaming are all about, you can learn more in our special:
What are these NFTs? In 2019, Delta Time sold NFTs for 415.9 Ethereum, or over 102,000 euros at the time (via decrypt.io). However, prices continued to rise over the months and years.
In March 2021, a record price of over 262,000 euros was achieved for a single NFT according to racefans.net. However, the profit was donated to a fund for the fire disaster in Australia.
Compared to certain NFT stones that are worth much more, the cars were still relatively inexpensive. However, players hardly have anything left now, as the basis is missing.
NFTs worth 260,000 euros are simply exchanged
What happens to the NFTs? Essentially, all cars are still owned by the players. After all, the principle behind NFTs is that people actually own their digital items.
How the market around these vehicle NFTs develops remains to be seen. A complete loss of value for investors is possible. However, in the speculative NFT environment, further value increases are also possible – even if the vehicles can no longer be used.
Are players losing everything now? The operators of Delta Time promise players “replacement vehicles” for another game: REVV Racing. If players want to exchange their NFTs, there is an offer for that.
The compensation will be based on the original rarity and strength of the corresponding car from Delta Time.
These can be exchanged for a “Race Pass,” which allows players to trade or bet. In this way, they have the opportunity to receive REVV – an in-game cryptocurrency on the Polygon blockchain.
Players can exchange from April 30 to July 31, 2022. However, the prices at REVV Racing vary widely.
On the platform OpenSea.io, there are some offers for 100 trillion ETH (about 321 trillion euros), but these are unlikely to be serious. The top price for the otherwise most expensive cars is around 1,000 ETH (about 3.2 million euros). However, most offers are at 100 ETH or less.
Since 2021, NFTs and crypto gaming have been a growing trend that is often criticized. MeinMMO author Maik Schneider finds this unjust:
The harsh criticism of NFTs in gaming is unfair – they are more than microtransactions
