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NFT-powered racing game F1 Delta Time has auctioned off a segment of an in-game track for $222,000.
A segment of a race track in F1 Delta Time, a nonfungible token-powered motorsports game from Animoca Brands, has been auctioned off for more than 9 million of the companyās REVV tokens, worth approximately $222,000. Animoca says itās a record price for an in-game NFT.
The token, āFormula 1 Grand Prix de Monaco 2020 1Aā was auctioned on NFT marketplace Open Sea, with bidding taking place from Nov. 29 until Dec. 2. The token offers its owner an āApexā share in the gameās Circuit de Monaco track.
Congratulations to @MetaKovan and the @metapurse proud owners of the @F1DeltaTime 1-1-1 and now the A-1 track which sold for a record breaking 9 million $REVV (approx. 222k USD) and runner-up @TonyGuoga Super Fast Team! @REVV_Token @twobadour https://t.co/lNFRL9B9Ro
ā Yat Siu (@ysiu) December 2, 2020
Similar to the way users can buy virtual land in Decentraland or The Sandbox, F1 Delta Timeās in-game tracks are fractionally tokenized for sale to the gameās players ā with Circuit de Monaco comprising 330 tokens of four different rarities: Rare, Legendary, Epic and Apex.Ā
The owners of Delta Time track-NFTs earn dividends from all activity that takes place on their track, including entry fees for races and yields from āElite Eventsā that require participants to stake REVV for entry.
According to their rarity, track-NFTs will earn either 5%, 7%, 13% or 25% of gameplay fees in addition to either 3%, 5%, 11% or 21% of elite staking yields.
Apex tokens are of the greatest rarity and afford their owner a 5% stake in the entire in-game track. As such, the auctionās closing price implies the entire track could be worth $4.44 million
The Monaco 1A track token is the first F1 Delta Time track-NFT to be auctioned. The token was sold to āMetaKovan,ā who also made history by purchasing a tokenized Apex race car from Animoca for $111,111 last year.
Speaking to Cointelegraph, Animoca Brandsā co-founder and director, Yat Siu, asserted that the Apex token is āthe most expensive gaming NFTā by fiat value.
NFTs have gathered significant momentum in recent years, with several game-based tokens garnering six-figure prices.
In September 2018, the CryptoKitties collectible āDragonā sold for $172,000, just two months before a parcel of virtual land in Decentraland changed for hands for $215,000.
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