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High-Speed Sales for Formula 1 Event NFTs

Posted by
Robert Hoogendoorn

$1.8 million in only 30 minutes

The racing game F1 Delta Time made $1.8 million dollars within 30 minutes after selling all racing event NFTs. As a result, increased on-chain activity made the project move up to the sixth spot in the DappRadar NFT Overview.

In total, they’ve sold 800 NFTs based on five Formula 1 events, including events in Monaco, Belgium, and the British Grand Prix. Each of these sold for 10.000 REVV, which means that Animoca Brands earned 8 million REVV or more than $1.8 million from the sale.

F1 Delta Time is an officially licensed Formula 1 racing game. The project has already distributed drivers, cars, and track segments as NFTs, and now they’ve added events. Event NFTs earn the owner passive income from virtual races taking place on that particular track. 

The racing game has seen increased activity recently. Several racing events, increased ways to earn passive income, and the increasing value of REVV, made F1 Delta Time an interesting product. As F1 Delta Time is migrating to the Polygon blockchain, more on-chain activity is expected in the future. This increased amount of hype, resulted in more NFT trading on the secondary market as well.

NFT Trends

In the past 24 hours, NBA Top Shot has seen $12.88 million in trading volume from more than 67 thousand sold items. That’s well ahead of CryptoPunks, and the fantasy football game Sorare. In fourth place is Rarible, which has seen an increase in volume of more than 43 percent. 

For a detailed look at the latest NFT sales and most popular collections, go to the DappRadar NFT Overview. If you have NFTs in your own wallet, take a look at your portfolio and see its total value in our Portfolio Tracker.

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