Special Report: Animoca Brands is launching a series of very rare Formula 1 tokens representing four of China’s mythological creatures, to celebrate Chinese New Year.

Animoca Brands (ASX:AB1), which was just ranked 5th on the list of the world’s Top 50 blockchain game companies by BlockchainGamer.biz, is launching non-fungible tokens (NFTs) in partnership with Formula 1 to celebrate Chinese New Year and capitalise on the boom in esports: the company will offer a  series of race car NFTs representing four mythological symbols of China.

The ASX-listed company is the developer and publisher of F1® Delta Time, a blockchain game licensed by Formula 1, and will auction the ultra-rare “China Edition 2019 Azure Dragon”, NFT digital collectible race car (which is an NFT).

A non-fungible token is a special type of cryptographic token which represents a digital asset that is unique, indivisible and valuable. The blockbuster CryptoKitties, in which Animoca Brands invested, made the concept of  non-fungible tokens into a global phenomenon when it began selling digital cat tokens in late 2017.

The auction for “China Edition 2019 Azure Dragon” takes place on January 23 at 3:00 am GMT and ends on January 31 at 3:00 am on the F1® Delta Time website.

Four Guardians

The China Edition 2019 Azure Dragon NFT is the first of the F1® Delta Time “Four Guardians” race cars. The Azure Dragon (‘Qinglong’ in Chinese) is a mythological creature representing the East and the season of spring.

The China Edition 2019 Azure Dragon digital collectible is extremely rare as only one will ever be made available.

The black and azure livery of the China Edition 2019 Azure Dragon is embellished by two gold dragons, each holding square-holed Chinese coins that represent great wealth for the car’s owner.

The other three cars in the Four Guardians limited series are White Tiger, Black Tortoise, and Vermillion Bird, and will be released in the coming months.

The Four Guardians race cars are based on the four mythological symbols of China, which are the guardians of the four cardinal directions.

Power up

In F1® Delta Time there are five rarity and power levels for cars: Apex, Legendary, Epic, Rare, and Common, with Apex being the scarcest. Each race car in the Four Guardians series is of the Apex level and completely unique.

The top-level performance indices of the China Edition 2019 Azure Dragon make this car a ferocious contender on any race circuit and a fitting tribute to the legend of the Azure Dragon.

By the numbers, the Azure Dragon has a top speed of 988/1000, acceleration of 916/1000, a grip number of 918/1000, and most importantly, a luck rating of 88.

All F1® Delta Time Four Guardians race cars receive a unique boost to all stats when racing on the Shanghai International Circuit. Owners of these cars will earn twice the number of REV for completing REV-rewarding achievements in F1® Delta Time.

REV is an ERC-20 token and the primary in-game currency that will be used in F1® Delta Time.

The new Formula 1

All race cars produced by Animoca Brands via F1® Delta Time are officially licensed by Formula 1. Every car is an NFT digital collectible that can be used in the upcoming F1® Delta Time multiplayer racing game.

The authenticity, rarity, and true digital ownership of these NFTs are guaranteed via blockchain.

F1® Delta Time has held auctions for four official Formula 1 NFTs of the Apex rarity level, starting with the landmark “1-1-1” digital car collectible that sold on May 28, 2019 for a record price of 415.9 Ethereum (worth about $US113,000 at the time of sale).

This was followed by the Monaco Edition 2019, France Edition 2019, and Japan Edition 2019.

In addition, F1® Delta Time also auctioned the first 10 official F1 team cars simultaneously in its Pole Position Auction held from November 28 to December 1, 2019, which fetched a total of 121.5172 ether (worth approximately $US18,608, or $165,086, at the time of sale).

The team cars were all of the Epic rarity level.

Staking NFTs to generate in-game currency 

Owners of fast digital cars don’t need to race them to make money.

In F1® Delta Time, cars are NFTs and will have the ability to generate REV through a mechanism called “staking”, with rarer cars generating higher amounts of REV.

When you choose to stake your car, you temporarily transfer ownership to F1® Delta Time and therefore lose the ability to use, race or trade that car, but you will earn REV based on the period of time that your car is staked.

Chinese New Year Red Packet giveaway

F1® Delta Time will celebrate the Chinese New Year by giving out REV, from January 23 to 31.

Registered members of F1® Delta Time will receive 20 REV, and each bidder in the China Edition 2019 Azure Dragon auction will get 30 REV. Players can also receive 50 REV by tweeting about the event.

REV will be issued when it becomes available. Details can be seen here.

Blockchain gaming success story

Besides claiming the 5th spot on the list of the world’s Top 50 blockchain game companies, Animoca Brands also has investments in various other companies that made it into the Top 50 list.

These include third-place taker Dapper Labs, Sky Mavis (#6), WAX (#9), Experimental (#15), Decentraland (#18), and Lucid Sight (#23).

BlockchainGamer.biz’s Top 50 list highlights companies that are innovating in the fast moving blockchain gaming industry.

The Sandbox, which is developed and published by Animoca Brands’ subsidiary Pixowl, is one of the world’s first decentralised games based on user generated content. The game earned the 13th spot ranking.

“We value this recognition from our peers in the gaming industry as Animoca Brands pursues its innovative strategy to leverage gaming for the adoption of blockchain,” Yat Siu, co-founder and chairman of Animoca Brands, said.

“Being ranked number five in the BlockchainGamer.biz list of the top 50 blockchain game companies is a testament to our team’s continued hard work.

“Having direct investments in various other companies on the list, and seeing The Sandbox ranked 13th is encouraging and gratifying.”

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This story was developed in collaboration with Animoca Brands, a Stockhead advertiser at the time of publishing. This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.