Official Formula 1 NFT game is shut down

Official Formula 1 NFT game is shut down
Official Formula 1 NFT game is shut down

Few concepts seem to arouse players’ anger and disgust in the same way as NFT and crypto in relation to computers and video games. So it is unlikely that many tears will be shed over the fact that the official F1 NFT game Delta Time last month closed its doors in complete silence. This also means that the few poor people who have spent money on the project have seen their digital assets go up in smoke.

Delta Time was one of the first NFT games with an official license and has lived an existence among the shadows with a small but dedicated player base. The shutdown came, to say the least, as a cold shower for those involved and was announced on March 15 with an end date set for the following day. That is, on March 16th.

The intention was for players to be able to collect virtual cars, drivers and car parts in F1 Delta Time.

Some game players spent up to £200,000 on one-of-a-kind F1 car models in a variety of liveries, as well as other digital assets. In a statement, Animoca stated that they will “ensure that current owners of F1 Delta Time assets are rewarded for their loyalty and support.”

NFTs grew in popularity in 2021, dubbed “the great NFT awakening” by Animoca. However, many people have expressed doubts about the long-term value of NFTs, as well as concerns about the way NFT capital gains are taxed, or not taxed.

The game’s sudden shutdown came from the fact that the studio Animoca, which developed the title, failed to renew the F1 license and thus was forced to cease operations immediately. Sad for the player who, almost two years ago, spent more than one hundred-thousand dollars on a car in the game, as well as everyone else who has chosen to invest in the game with the hope of getting rich on digital goods.

What was a promising endeavour now sits as just a dead domain.

Easy come, easy go. It is often said and Delta Time is just another in the line of failed NFT projects.

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