Animoca Brands Corporation Limited has secured a global licencing agreement with Formula 1 to develop and publish F1 Delta Time, a blockchain game based on the world-famous racing series.
F1 is considered to be the pinnacle of motorsport, and is the world’s most popular annual sporting series. It has a global footprint, hosting 21 races in 21 countries across five continents. During the nine months of racing per year, F1 attracts 1.6 billion television viewers, 506 million fans and 4.1 million race attendees.
The sport boasts the world’s most valuable sporting fanbase and attracts highly prestigious companies as sponsors, including Pirelli, DHL, Rolex, Emirates and Heineken, among various others. Its broadcast partners include Sky, Fox Sports, and ESPN.
In 2016, F1 was acquired by Liberty Media, a multinational company with operations in 30 countries. Since the acquisition, Liberty Media is growing the sport and improving the fan experience through partnerships with the world’s most innovative companies, significant investments in new technologies, and widening access to content and deeper fan engagement.
As part of the licencing agreement, Animoca Brands will assist in driving fan engagement by developing and publishing the blockchain game F1 Delta Time. The game will have a collectible component based on non-fungible tokens (NFTs) as well as a racing component utilising those NFTs. The first phase of the game, featuring NFTs based on Formula 1 intellectual property, will be launched on 10 May 2019.
Animoca Brands believes that the licensing agreement can considerably broaden the Company’s consumer reach, and it aims to drive growth and product uptake by leveraging the significant brand power of Formula 1.
Yat Siu, co-founder and chairman of Animoca Brands said: “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.”