Animoca Brands has announced that it secured the license for the Formula E, an all-electric racing competition. The gaming company will create a game and non-fungible tokens based on the racing brand, and integrate all this into the REVV ecosystem. Animoca will be able to use all teams, sponsors, cars and tracks from the Formula E in their upcoming game.
The ABB FIA Formula E World Championship combines real-world racing with virtual elements. Interactive features allow fans to give their driver a virtual boost in the race, while attack mode is an interactive part of the track that provides a boost. It’s basically Formula 1 racing with real cars, but with added mushrooms from Mario Kart.
Animoca Brands promises that the Formula E blockchain game will have collectible elements, which will include cars, drivers and tracks. In addition there will be a racing components where those digital assets can be used. This is obviously where REVV comes into play, the native token of many other racing games including F1 Delta Time and the upcoming Moto GP game.
REVV token is currently trading for $0.017. That’s more than double the price of the token ($0.00666), when it launched earlier this year. This year the first parts of the MotoGP game will hit the market, while Formula E will follow next year. At the same time two Atari games will also join the REVV ecosystem.
However, Animoca Brands won’t stop expanding the REVV ecosystem. “We will definitely be looking to add more games over time, as we want our REVV token holders to have as much flexibility as possible with what they can do with REVV”, said Robby Yung from Animoca Brands to Play to Earn.
How to use REVV right now?
REVV can be used for purchases and in-game activities. Players for example need to pay an entry fee to join in F1 Delta Time’s game modes. In addition they can stake the token and earn in-game assets that way, while game assets can be staked as well. This will earn the gamers REVV.
Gamers who have bought crates or registered themselves on the official website will receive some free REVV. Animoca Brands is distributing 6.02 million REVV among its community.
Players who own digital car parts or drivers, can earn REVV by staking them. This would allow other gamers to use their assets. In addition the REVV token is needed to maintain the quality of certain items, like for example the tires.
REVV exists on the Ethereum blockchain, and can be used in two games. This also means that players can use tokens earned in one game in the other game. Of course gamers can also sell their earned tokens on an open marketplace, like the one that Animoca will open on Uniswap.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, started the Play to Earn Online Magazine in early 2020.