F1® Delta Time to cease operations; announces rewards for supporters
It is with deep regret that we announce that F1® Delta Time will cease operations on 16 March 2022. Whilst we have not been able to renew our license, we will ensure that current owners of F1® Delta Time assets are rewarded for their loyalty and support. We are taking measures to offer players and asset holders ways in which they can participate in the wider REVV Motorsport ecosystem, which includes MotoGP™ Ignition, Formula E: High Voltage, REVV Racing, and Torque Drift. We begin to outline some of these measures below.
We want to thank our fans and players for their loyalty during the last three years. You enabled us to create a new type of game experience and contribute to the foundation of many other blockchain games, present and future.
You, the players of F1® Delta Time, allowed F1® Delta Time to break numerous records and turn heads long before the great NFT awakening of 2021.
It all started in 2019, when the legendary 1–1–1 broke new ground and smashed all previous price records, becoming the most valuable NFT of the year. It was also the most valuable virtual car up to that point and it fetched the highest sum ever paid for a branded game NFT at the time.
In 2020, the introduction of the popular game modes Time Trial and Grand Prix allowed F1® Delta Time to significantly advance the fledgling state of the play-to-earn industry, and allowed for the REVV token to launch on exchanges with the advantage of having day-1 utility. These race modes have allowed players to win over 13,000,000 REVV to date.
In 2021 the two most valuable virtual car transactions ever recorded occurred one day apart and were both - you guessed it - for F1® Delta Time cars.
There were many other remarkable milestones in the three-year history of F1® Delta Time, but enough retrospective for now. We are deeply grateful to our community for having supported this innovative and groundbreaking blockchain project, and we will make sure that you do not leave the racetrack empty-handed.
Although the groundbreaking and innovative work in blockchain gaming, play-to-earn, and digital collectibles that F1® Delta Time has been carrying out since early 2019 is coming to an end, the broader REVV Motorsport ecosystem will continue its trailblazing work while offering new opportunities to existing F1® Delta Time players.
Players will be able to play F1® Delta Time Time Trial and Grand Prix modes, win REVV, and earn SHRD tokens until the last moment of the game’s operations on 11:59 pm PDT, 16 March 2022.
As part of our commitment to an open ecosystem, we are providing F1® Delta Time asset owners with the following options:
- All F1® Delta Time car owners will receive Replacement Cars, which are equivalent cars for REVV Racing on Polygon based on the rarity and power of your original F1® Delta Time cars
- Your F1® Delta Time cars can be swapped for a Race Pass, which is used in staking and gives access to future NFT mints and airdrops
- Staking v4.0 will have our largest reward pool yet: 20 million REVV. To participate you will need to use your new REVV Racing assets together with a Race Pass. Future staking events to be announced.
- Event Segment owners receive 6 months of rewards, and an option to swap for Track Vouchers, redeemable for a REVV Motorsport track NFT in the future
- 2019 Crates and 2020 Keys can be bridged and staked into a SHRD earning pool on Polygon
- All other F1® Delta Time assets can be swapped for Proxy Assets, which will be used in the future to obtain NFTs for products across the REVV Motorsport ecosystem
NOTE: the below information is an outline. More information will be provided on REVV Motorsport social media, including Twitter and Discord. Our goal here is to provide a snapshot of how we want to recognize and reward your ownership of F1® Delta Time assets.
The Race Pass
- The Race Pass is a new token that is available in 5 rarities: Common, Rare, Epic, Legendary and Apex
- Get Race Passes by swapping your F1® Delta Time cars; the Race Pass rarity is of corresponding rarity to the car swapped
- Race Passes will be stakeable to generate REVV in a new Staking pool we are setting up on Polygon
- Race Passes also give access to new token minting initiatives and airdrops. The rarity of the Race Pass will determine the content you can get through it
Staking v4.0: 20,000,000 REVV pool for your swapped cars
- Staking v4.0 will have our largest reward pool yet: 20 million REVV. To participate you will need to use your new REVV Racing assets together with a Race Pass
- Staking v4.0 will run on Polygon and will be accessible on the REVV Motorsport website after the asset swap for both 2020 and 2019 cars has been made available (30 April 2022). This Staking pool will draw from the original project REVV allocation and the remaining F1® Delta Time staking allocation
F1® Delta Time 2019 and 2020 Cars: Replacement Cars REVV Racing NFTs
- Owners of 2019 and 2020 F1® Delta Time Cars will receive Replacement Cars, which are REVV Racing car NFTs of the same rarity tier and relative level of performance. This will be automatic and no action is required
- The Replacement Cars will retain certain characteristics of the original F1® Delta Time cars such as their year (2019 and 2020) and rarity. The livery for Replacement Cars will pay homage to the original assets
- Replacement Cars will be delivered via a snapshot. We will capture all owners of the current F1® Delta Time cars and their rarity on 30 March 2022, and ownership on that date will determine which users will receive which cars
- All Replacement Cars will be playable in REVV Racing and, eventually, in certain other games
- Non-car assets will be supported where applicable across the larger REVV Motorsport metaverse
F1® Delta Time 2019 and 2020 Drivers: swap for Proxy Assets
- F1® Delta Time Drivers can be swapped for a Proxy Asset, which will be an asset of value and utility for REVV Motorsport. We are working to ensure that each asset from F1 Delta Time can be swapped to an asset that has the equivalent utility, scarcity, and value in the broader REVV ecosystem
- Not all Proxy Assets will be REVV Racing assets. We are working on providing the broadest possible value and utility, which will extend to new and exciting IP joining the REVV ecosystem
F1® Delta Time Event Segments: collect earnings and convert to Track Vouchers
- Event Segment owners will receive monthly REVV payouts equal to the average REVV per-month earned by their segment type, based on March-December 2021 data. The payout periods begin on 1 March 2022 and will run for 6 months, ending on 31 August 2022. The actual payouts will occur after the end of each month of the payout period. Amounts will be disclosed in the coming days
- Event Segment owners will have the option to convert their F1® Delta Time Event Segments to Track Vouchers, which can be redeemed for specific circuit NFTs that will be released across the REVV Motorsport ecosystem, including in REVV Racing. We will be announcing the first batch of licensed circuits to enter the REVV Motorsport ecosystem shortly
- Track Vouchers are treated as Event Segments for the purposes of the payout described above. You do not need to hold on to your Event Segment
F1 Delta Time Parts, Gear, Tyres: convert to Proxy Assets for P2E in REVV Motorsport Time Trial
- You can convert your Car Parts, Driver Gear, and Tyres NFTs into Proxy Assets that can be used in the new upcoming REVV Motorsport Time Trial
- As with all REVV Motorsport titles, REVV Motorsport Time Trial will be a play-to-earn game. It will support the Proxy Assets you get by converting F1® Delta Time Parts, Gear, and Tyres, and will also support REVV Racing cars and other assets from across the REVV ecosystem. Players will earn REVV and SHRD tokens
2019 Chests and 2020 Keys: open or stake
Owners of 2019 and 2020 Chests and Keys will have a choice to:
- Open the Chests/Keys and take advantage of the swap explained above (receive Race Passes for applicable assets
- Keep the unopened Chests and Keys and bridge them to Polygon for staking into a new SHRD pool
- The full swap offerings will be live on the REVV Motorsport website starting 30 April 2022
- The swap will be available for 3 months, and will close on 31 July 2022
This is just the beginning of our plan to provide our F1® Delta Time players with expanded value for their ownership of F1® Delta Time NFTs and to thank them for their involvement in the REVV Motorsport ecosystem.
Although the game will have to cease operations, we are now focused on ensuring that our players have a path forward. We are open to feedback and questions regarding the above measures, and we welcome your opinions across all of the REVV Motorsport channels, including Discord, Twitter, Telegram. You can also email your opinions to firstname.lastname@example.org.