F1® Delta Time — The First Event Auction: Formula 1 Grand Prix™ de Monaco and Bahrain Edition 2020
The time has come for the first long-awaited event sale, with the initial auction for a segment of
the Formula 1® Grand Prix de Monaco 2020 — one of the most iconic events on the 2020 Formula 1 calendar.
Also included here is information about the latest F1® Delta Time Apex car auction: the “Bahrain Edition 2020”. Read on for all the action!
About Formula 1® Grand Prix de Monaco
A legendary event on the Formula 1 calendar. Ever present, it entices the eyes of the world for one weekend to focus on the fastest motorsport on the planet. Few events come close to having seen as many heroes of Formula 1 than the Formula 1 Grand Prix de Monaco.
Introducing Event NFTs
One of the key elements of F1® Delta Time is that all of the core assets of the game are NFTs, and this includes the events themselves. Unlike the other game NFTs, events are assets that will reward owners with entirely passive dividends in the form of REVV.
Event owners receive shares of all the gameplay fees and staking events that take place on their Grand Prix™ — if you’re an event owner, just sit back and watch the REVV flow in.
Events are broken into multiple segments representing fractional ownership of the event, with each segment having a rarity tier similar to other assets in F1® Delta Time. Unlike other F1® Delta Time assets, event segments rank from Rare to Apex (without a Common Tier). The rarity of the event segment defines its availability, and earning potential.
Event Segments: Supply and Earn Structure
F1® Delta Time event segments are available in four tiers: Apex, Legendary, Epic, and Rare, (Apex being the most scarce, and Rare the least). Ownership of any segment of an event automatically entitles the owner to receive proportional shares of all activity on that Grand Prix™. This includes Event Dividends of entry fees for all races held on that Grand Prix™, and Elite Yields from any races held on that event during Elite Time Trial Events (special events that require Staking of REVV).
Fees and Yield earned and allocated to the segment tiers, are shared evenly amongst the active event segments (an active event segment is one that has been minted).
Gameplay Fees: Event Dividends from Race Entry Fees: gameplays in F1® Delta Time (i.e. Time Trial and Grand Prix™ Mode) require an entry fee paid in REVV. A flat 50% share of all entry fees collected is considered a Dividend for the owners of the event on which the gameplay takes place. Higher tier segments receive a proportionately higher share of this Dividend (see table above).
Staking Yield: Elite Yields from Elite Events: Elite Events such as the Elite Time Trial require staking of REVV and do not have race entry fees. In such Elite Events, event segment owners whose related Grand Prix is used during the event receive a Yield based on 40% of the total REVV staked during the Elite Time Trial and on the number of days that that Grand Prix™ appeared. This Yield is then shared among the event segment owners based on their event segments’ rarity (as shown in the above table).
Note that Elite Yields are paid from the Game Operations pool, ensuring that players’ stakes remain intact and can be withdrawn in full after the Elite Time Trial ends.
To summarise: event segment owners will receive Event Dividends from Time Trial and Grand Prix game modes, as well as an Elite Yield from Elite Events such as the Elite Time Trial.
Launching the Events — Formula 1 Grand Prix de Monaco 2020 Auction
Event NFTs will be made available in multiple forms, through limited sales, scarce prizes and auctions. The very first event segment sale will place one Apex tier segment for the Formula 1 Grand Prix de Monaco 2020 on auction at a starting price of 1,929 REVV.
The auction will run for three days once listed, with the segment ultimately going to the highest bidder. All bids must be in REVV.
The first segment — Formula 1 Grand Prix de Monaco 2020 Apex Segment 1A — is set to go on auction on 29 November 2020 at 2 am (GMT) at www.F1DeltaTime.com, and the auction will last three days. This is the very first event segment to both be minted, and placed on sale for F1® Delta Time.
Apex Car Auction
In celebration of the upcoming FORMULA 1 ROLEX SAKHIR GRAND PRIX 2020, the “Bahrain Edition 2020” car Apex NFT will be auctioned on 1 December 2020 at 2am (GMT) at www.F1DeltaTime.com. The auction will last three days, with a starting price of 2,004 REVV.
As with the Monaco event auction, anyone interested in bidding in this auction will need to have REVV available. REVV is the only currency accepted for this sale.
About the “Bahrain Edition 2020”
Bahrain, the Arabian Gulf’s magical Island Kingdom and a true Garden of Eden, is the world’s premier location of natural pearls and is steeped in pearling history. Virtually every ancient author when describing the islands of Bahrain mentions the fine pearls found in its waters.
The livery of the “Bahrain Edition 2020” car features glittering, circular ripples with a pearlescent colour profile and sinuous lines that represent the waters of Bahrain’s shoreline. The design is finished with splashes of neon inspired by Bahrain’s dramatic night skyline.
The Future of Apex
The Apex tier exists as the pinnacle of F1® Delta Time, and ultimately, the larger REVV ecosystem. As the name signifies, Apex is the very peak of possibility, and Apex tier assets will become even more important in the future of F1® Delta Time.
Today, Apex car NFTs earn the highest REVV return through staking, and Apex event segment NFTs earn the highest Dividends and Yields in F1® Delta Time.
Disclaimer: all references to earnings, including dividends and yields, and fees are examples only and should not be considered to be guarantees.
Any questions, give us a shout!
Have questions? Hit us up on social media at Twitter or Facebook, or join us on the official F1®
Delta Time channel on Discord.
F1® Delta Time on Discord: https://discord.gg/6ZyRX2C2UX
F1® Delta Time on Twitter: https://twitter.com/F1DeltaTime
F1® Delta Time on Facebook: https://www.facebook.com/F1DeltaTime
You can also find out more about REVV over at the official Twitter and Telegram channels.
REVV on Twitter: https://twitter.com/REVV_Token
REVV on Telegram: https://t.me/REVVCommunity
The F1 FORMULA 1 logo, F1 logo, FORMULA 1, F1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trademarks of Formula One Licensing BV, a Formula 1 company. All rights reserved.