The Crypto Times
Image default
Blockchain News

Collectible VR Car for Blockchain Game Sold for Record-Breaking $110,000

A virtual race car for the soon-to-be-released game F1 Delta Time was sold for 415.9 ether (ETH). That translates to $110,600 at the time it was sold. The news of the astounding sale was revealed by Animoca Brands, the company behind the blockchain-powered game.

Race Car 1-1-1

The record-breaking race car, the “1-1-1,” is unique in so many ways. It’s the first virtual F1 racing car to be released. The game’s auction page also revealed that the company won’t roll-out any similar unit.

Animoca Brands held an auction for the limited edition 1-1-1 for four days and received 31 bids. It was later sold to an unknown user who went by the handle “09E282.”

Animoca Brands announced back in March that it’s collaborating with Formula 1 to release F1 Delta Time. Players can collect virtual Formula 1 racing cars and compete against other players.

Advantages of Owning the Car

According to the F1 Delta Time website, owners of specific car models will enjoy some advantages in the games. The site explained that the game will revolve around the trading and collecting of unique Components, Cars, and Drivers that all exist as non-fungible tokens (NFTs). The tokens, which follow ERC-721 standards, come in limited numbers. Due to this, their worth is determined by how rare they are, with the rarest having “the most impressive racing attributes.”

Crypto collectibles are a recent introduction, with companies utilizing blockchain tech to authenticate and track them. They’re also starting to gain acceptance. Cryptokitties, an Ethereum-based game, sold more than $12 million collectibles. The most expensive in-game item reportedly went for $120,000.  

Related posts

Elon Musk, Bitcoin and the Reddit raiders: 6 things to watch for BTC price this week

Viena Abdon

AC Milan fans to use blockchain tokens to vote on soccer club motto

Viena Abdon

Robinhood announces plans to offer crypto deposits and withdrawals

Viena Abdon

US Fed Reserve Board Announces Plans to Roll-Out Payments and Settlements Service

Viena Abdon

Bitcoin price breaks $40K: Here’s where BTC may go next

Viena Abdon

Litecoin creator draws parallels between 2021’s NFT and 2017’s ICO mania

Viena Abdon