Unique Formula One Digital Collectible Virtual Race Cars Available With F1 Delta Time Blockchain Game
by R.A. Rowell
To celebrate the beginning of a new Era in Japan, a one-of-a-kind virtual F1 racing car has been auctioned off. The auction began on October 14th and ended on October 17th. This car features the kanjii of Reiwa, which means "beautiful harmony" and is the name of the newest era in Japan that began on May 1st, 2019. The playable car called the "Japan Edition 2019" celebrates the first ever Formula 1 Japanese Grand Prix in the Reiwa Era. It's also the very first official Formula 1 product to celebrate that event. This car will be playable in the upcoming F1 Delta Time blockchain racing game. The auction ended up being the lowest bid of the four NFTs offered for the Delta Time game so far, wrapping up with a bid of 91.51 ETH, or about $16,500.
Being an NFT (non fungible token) on the Ethereum blockchain, the "Japan Edition 2019" is guaranteed to be authentic with true ownership to the holder of the token. Being a digital asset on the blockchain is great, but even better is that it's also a playable car that gives its owner a "lightning fast and nimble" race car based on a samurai-inspired design. Also, like one of its predecessors, the Monaco Edition 2019, this car gets a "home field advantage" at Suzuka Circuit, giving the car a boost to all it's stats when racing at that locale. Considering its in-game value for F1 Delta Time, uniqueness, and collectability, the "Japan Edition 2019" should fetch a handsome amount of Ethereum.
History of Other F1 Delta Time Blockchain Collectibles
As already mentioned, this car is far from the first F1 Delta Time Blockchain collectible to be auctioned off. The first was the 1-1-1, which was also one of a kind. It sold for 415.9 wETH (wrapped ether), an amount that would translate to $73,500 USD as of this writing. It hasn't received any strong offers on OpenSea since, however.
The second F1 collectible was the Monaco Edition 2019. It is also one of a kind with extreme high performance and a "home field advantage" at the Circuit de Monaco. That car sold for just 108 wETH. Right now that would be about $19,000 USD, obviously itself not a shabby amount. Like the 1-1-1 however, it has since had weak offers for it, as well.
The third F1 digital asset was the French Edition 2019, which last sold for 96.6 wETH. That's about $17,000. Again, no one has stepped up with a good offer should the current owner wish to flip. Now, the Japan Edition has actually finished with an initial sale price even lower than the French Edition, which may come as a surprise to some.
Of course, these cars are able to participate in a race for the owners of the tokens, but as of October 2019, the game itself is not yet live. When the game does actually launch, it will be very interesting to see how the market for these one-of-a-kind playable collectibles develops.
Animoca Brands Has a Good Thing Going with Blockchain Racing Games
The company responsible for F1 Delta Time, Animoca Brands, hopes to continue its success with a MotoGP blockchain-based game scheduled for release in 2020. The only concern I would have is despite high initial bids for its Formula One Digital Collectibles, there doesn't yet seem to be much of a secondary market for them. Of course,as blockchain gaming becomes more widespread, this will likely change. Also, F1 Delta Time isn’t even yet a live game, so it remains to be seen what level of value these unique cars will gain over time.
Like Formula One, MotoGP is a worldwide brand with plenty of fans and plenty of potential interested gamers. Of course, most gamers don't have $17,000 or more to drop on an in-game item. But it goes to show that there's a huge premium on being the first to own these items. Because all of these sales are public, it will be interesting to see how their value builds - or fails to build - over time.
As a major believer in the future of digital blockchain collectibles, I see race cars and racing motorcycles as being highly coveted high dollar items in the coming years. Of course, the game that it comes from and its own success is a big part of these collectibles value right now. But, the beauty of blockchain collectibles is that these tokens can migrate to other games, as well. Also, many more pure blockchain collectible investors are sure to enter the market sooner or later. As one of a kind items, these would seem like attractive investments.
What do you think that the Japan Edition 2019 will sell for? I would think that being a Japanese item will cause it to gather the most so far, as there are plenty of blockchain gaming fans in Japan. We will return to update this article at the conclusion of the Japan Edition 2019 auction on October 17th.
Would you spend thousands on an in-game playable racing blockchain collectible?
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R.A. Rowell is a collectibles enthusiast who comes from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, both on the blockchain and off.