The blockchain game company, Animoca brandsstarted the Stake out for non-fungible tokens (NFT) Collectibles that appear in your game F1 delta time.
Stakers can earn interest on their NFTs in the form of REVV tokens on a weekly basis. REVV also consists of a utility token that can be used to pay for participation in the main time trial and in the game’s Grand Prix mode.
Animoca also plans to add support for REVV as a means of payment for NFT purchases later this year. The game’s NFTs include unique racing vehicles, drivers, auto components, driver gear, or tires that players can own.
In conversation with Cointelegraph, CEO of Animoca Brands, Yat siu, found that “There is currently no traditional token sale for REVV.”This highlights that REVV tokens can only be obtained by staking out the F1 Delta Time NFT token.
“The goal is to first determine the real usefulness of the token through its use in F1 Delta Time. In addition, we will try to add it to an exchange and expand REVV support by introducing additional games like the game from MotoGP”.
Siu said the NFT stake was introduced to give holders the opportunity to earn dividends on their tokens.and to promote “cross-pollination” in both NFT and cryptocurrency communities.
“The general audience of crypto gets the potential value of NFTs first, and the NFT audience gets a gateway to fungible tokens.” Said Siu.
F1 Delta Time receives one sixth of the delivery
F1 Delta Time will be allocated 500 million of the three billion REVV tokensand the tokens are divided into four groups for play.
The first betting round will be 6.02 million REVV, which will be distributed in 12 weeksThe weekly payouts gradually decrease to reward early stakers. The total weekly rewards drop from 700,000 to 332,500 tokens within 12 weeks.
The rewards for staking also depend on the rarity of the NFTs used by users. 200 million tokens have been allocated “to a reserve fund that can be paid into other funds as the F1 Delta Time increases,” while around 274 million tokens are distributed to players as rewards.
20 million tokens have been earmarked for marketing and promotional purposes, including the distribution of air drops to verified account holders and “box” sellers.
However, it is still early The F1 Delta Time user base currently comprises around 4,000 player accounts and 470 NFT holders.