How F1 Delta Time’s staking system generates extra value from your NFTs
This is a sponsored feature from Animoca Brands.
F1 Delta Time is a blockchain game built around the collection, trading, and racing of luxurious Formula 1 cars, components, and drivers.
Every item is an NFT on the Ethereum blockchain, allowing you to verify the ownership, security, and authenticity of all in-game assets.
One of an NFT’s most interesting properties is known as staking.
Generally, this refers to committing to holding a token for a set period of time, gradually earning rewards on it. In F1 Delta Time, staking allows you to passively generate REV tokens off the back of your car NFTs.
An Ethereum standard ERC20 token, REV are of course the game’s primary currency.
Higher NFT value, higher REV rewards
When you choose to stake your NFT, ownership of it is temporarily transferred over to F1 Delta Time, meaning you’re not going to be able to use, race, or trade the NFT. That said, it’s a great way to earn REVs over the period that your NFT is staked.
The rewards for staking are calculated on a daily basis, and if you opt to stake your NFT, you’ll be entitled to some REV based on its rarity. As you might expect, the higher the NFT’s rarity, the more REVs you’ll gain.
Rewards for staking are sent out at the end of every week, though you’ll be able to withdraw your staked NFT at any time. If you do opt to withdraw, you’ll automatically regain ownership of the NFT.
F1 Delta Time is currently running a crate sale for NFTs, which will run until 9 March 2020. When the sale ends, the crates and NFTs contained within will be destroyed, never to be made available again.
Staking in F1 Delta Time is a great way to get extra value out of your NFTs. If you’d like to learn more, you can find additional info over on its official site.
Check out our Top 50 Blockchain Game Companies list here.