By
Svetlana Soroka
April 15th, 2024
Animoca Brands has signed an agreement with Formula 1® to publish a blockchain-powered game based on the world-renowned F1® racing series.
In today’s business, some unexpected collaborations can bring really amazing results. A new announcement made by blockchain startup Animoca Brands is just one of this kind.
According to the information provided by Animoca Brands, it has signed a global licensing agreement with Formula 1®, one of the most famous and popular car racing brands in the world.
Collaboration with Formula 1®
The main aim of this partnership is to create a blockchain-powered game based on the world-renowned Formula 1® racing series.
The fact of the agreement signing was revealed by Animoca in its recent press release. It also states that according to the data provided by the car racing giant Formula 1® racing events attract the attention of nearly 1.6 billion television viewers from over 180 world’s countries and over 506 million people worldwide can be considered to be real fans of this event brand.
The blockchain-powered game that is to be published by Animoca Brands in the framework of the above-mentioned agreement is called F1® Delta Time and it will be based on non-fungible tokens (NFTs).
The first phase of the F1® Delta Time game launch is scheduled for May 10, 2019. It is said that the game will have an NFTs-based collectible component as well as a racing one that utilizes NFTs.
It is also believed that this collaboration with such a powerful brand as Formula 1® is able to attract the attention of a wide audience to the capacities of blockchain technology as well as to increase the involvement into this sphere.
The inaugural FIA Formula One World Championship was held in the 1950s. And at the current moment, Formula 1® runs 21 races in 21 countries across five continents each season. Annually, more than 4 million people attend these events.
Yat Siu, co-founder and chairman of Animoca Brands, commented on their new partnership the following way:
“Securing a partnership to make blockchain games with Formula 1 – one of the most recognised brands in sport – is a notable achievement. We will leverage Formula 1’s considerable global reach to drive product uptake and revenue growth as together we seek to increase consumer exposure to blockchain.”
Animonica supposes that the blockchain game will ensure deeper fan engagement and that this initiative, in general, will help Liberty Media that is the owner of F1 to improve fan experience with the help of investments in new technology.
Agreement with Atari
It’s also worth mentioning that this partnership is not the first significant one in the history of Animoca. As Coinspeaker has reported earlier, last year the company announced the collaboration with major game developer Atari that is known for having developed such games as Pac Man and Tetris.
Under this licensing agreement, Animonica wanted to obtain the rights to build and publish a blockchain-powered version of Atari mobile games “Roller Coaster Tycoon Touch” and “Goon Squad”.
