Animoca Brands, a Blockchain gaming platform, has signed a global licensing agreement with Formula 1® to release a Blockchain game based on the world-renowned racing series. According to the report, Formula 1 draws 1.6 billion television viewers across more than 180 territories and engages 506 million fans globally. The licensing agreement will enable Animoca to publish a Blockchain game “F1® Delta Time,” based on non-fungible tokens (NFTs).
The Animoca’s Blockchain game F1® Delta Time, the first phase of the launch being slated for May this year. It will reportedly have a collectible component based on NFTs, in addition to a racing component that uses those NFTs. In a statement, the company stated that the significant brand power of Formula 1® and the new licensing agreement’s potential to broaden consumer exposure to Blockchain. The Blockchain gaming platform asserts that its Blockchain game will deepen fan engagement and that the partnership aligns with Formula One owner Liberty Media’s intends to advance fan experience through significant investments in new technology. Back in December last year, Animoca Brands reportedly entered into a licensing agreement with Atari, best known for iconic video games like Tetris and Pac Man.
With this agreement, Animoca can create and publish Blockchain versions of Atari mobile games, dubbed as RollerCoaster Tycoon Touch and Goon Squad in most jurisdictions across the world. Since launching its opening FIA Formula One World Championship in the 1950s, Formula 1® now apparently runs 21 races in 21 countries across 5 continents each season. Furthermore, it reported that it has 4.1 million annual race attendees.