An exciting new racing game highlights the market power of Animoca’s innovative NFT-based gaming platform
Through open-source networking, valuable NFTs generated in a popular Animoca racing game will be maintained and transferred in new updated version.
After striking a deal with Formula 1 back in 2019, blockchain gaming pioneer Animoca Brands found major success with the launch of its F1 Delta Time game.
The play-2-earn (P2E) game allowed players to pit their cars and driving skills against each other, and also acquire NFTs – in-game cars with unique features and performance benefits.
For leading NFT platform 99Starz, F1 Delta Time was one of the most popular games across its user base.
Established by founders who were passionate about giving more gamers access to play-to-earn game, 99Starz facilitates the use of STZ tokens which allow players to rent NFT assets in popular games such as Axie Infinity and F1 Delta Time.
The STZ token is “designed to be a value-driven exchange mechanism for players sharing rewards or renting gaming assets from the 99Starz NFT vault”, the company says.
Earlier this year, Animoca made the decision to close down the F1 Delta Time game after it was unable to renew a licensing deal.
However, around 2,000 gamers on 99Starz still own NFTs, some of which were acquired for up to US$100,00 each. And that’s where the platform saw an opportunity.
In a recent post on Medium, 99Starz flagged an innovative new plan; leveraging its platform to build out a time trial game based on the source code used to build F1 Delta Time.
With a strong community of gamers who enjoyed the gameplay – many of whom still own F1 Delta Time NFTs – the new game will provide players with a new opportunity to earn rewards and compete for in-game rewards, just like the original.
Instead of the REVV token, the main in-game currency will be STZ, the native utility token on the 99Starz platform.
Along with giving its customers the opportunity to continue playing a game they enjoy, what the 99Starz initiative also shows is the capacity for NFTs to hold their value, even when the parameters of a particular game are changed.
By deploying the open source code for F1 Delta Time into a new and popular time trial game, players can automatically reap the benefits of their play-to-earn rewards from the game’s previous iteration.
As part of its relaunch, 99Starz to introduce a number of new updates which will allow the adapted time-trial game to support more than twice the original player count.
The new game will also feature a custom analytics app that allows players to assess the performance of each NFT, the company said.
And 99Starz CEO Luca Lamberti described it as a “huge step” forward for the 99Starz and NFT community.
“F1 Delta Time has been a loved and cherished game for a large number of players,” Lamberti said.
“Now, we’re contributing to the digital rights revolution that NFTs enable, allowing owners to retain their game assets and use them in other environments.”
“I’m excited to continue development of the Time Trial game mode, providing players with the highly strategic P2E experience that they fell in love with originall.”
While 99Starz will guide the initial development of the new game, they eventually believe it can be a player-operated platform in the long run, via the establishment of an effective DAO (decentralised autonomous organisation).
As an early example, 99Starz will soon allow gamers to vote on the name of the new time trial game as part of its development process.
And for a popular game originally launched more than three years ago, it marks a unique example of how companies such as Animoca Brands and 99Starz are playing a central role in the long-term value proposition for NFTs within the multi-billion dollar gaming industry.
This article was developed in collaboration with Animoca Brands, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.