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Ethereum and Formula 1 Racing Team Up for Blockchain-Based Gaming

Geoffrey Gardiner   Nov 27, 2019 18:00 1 Min Read


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In-game purchasing and item collection has seen growing popularity in the gaming industry. Gamers are investing time and money into attaining the best items money can buy.

Yearly, for one popular game alone, $1.3 billion USD was spent on in-game items. 

The Formula 1 racing game F1 Delta Time, will begin using the Ethereum blockchain to create in-game ERC 20 and 721 standards to use as in-game currency, aiming to capitalize on this in-game spending market. Players will be able to collect rare cars to use using Ethereum tokens as a purchasing method.  

Blockchain offers a new method for players to further enjoy gaming, but also have real-world value for their purchases. Normally buying a Ferrari or Mercedes would be a one-off purchase with no resale value, however, on the blockchain, ownership can be bought and sold all across the platform to allow for trades and the ability to try something new. 

Delta Time will offer extremely rare cars to users, predicted to cost as much as 30 ETH, which currently equals $4,500 USD. 

As blockchain enters into more fields and expands adoption, it is likely the gaming sector will be heavily impacted. Delta 1 is not alone in this endeavor, with multiple other titles adopting the technology. 

 

Image via Shutterstock

 

 



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