Animoca Brands launches Formula E NFTs
Animoca Brands launches Formula E NFTs
Metaverses

Animoca Brands launches Formula E NFTs

By Eleonora Spagnolo - 19 Aug 2021

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Animoca Brands turns Formula E cars into valuable NFTs soon to be auctioned. 

The line is called “Formula E: High Voltage” and includes 24 NFTs that will be auctioned off on Featured, an NFT platform from Binance X built on the Binance Smart Chain. 

The auction will kick off on August 26 and run until September 2. Payment will be in Binance Coin (BNB), and in BUSD, Binance’s stablecoin pegged to the US dollar.

Animoca Brands will allow the purchase of NFTs and create an actual game between users who will win the Non-Fungible Tokens. 

Each user will become team manager and take care of the good performance of the car during the races. Formula E High Voltage will thus join the REVV Motosport metaverse where both F1 Delta Machine and MotoGP Ignition games are already present. 

The Formula E NFT car auction

A total of 24 cars are up for grabs, 2 for each Formula E team. 

Their classification is “Legendary,” the most valuable level, compared to the others, which are epic, rare, and common. That gives the NFTs an extraordinary value. In fact, this is only a first edition, and nothing excludes that others may follow. 

At the moment, the following teams will be present with two models:

  • Audi Sport ABT Schaeffler, 
  • BMW i Andretti Motorsport, 
  • DRAGON / PENSKE AUTOSPORT, 
  • DS TECHEETAH, 
  • Envision Virgin Racing, 
  • Jaguar Racing, 
  • Mahindra Racing, 
  • Mercedes-EQ Formula E Team, 
  • NIO 333 Formula E Team, 
  • Nissan e.dams, 
  • ROKiT Venturi Racing, 
  • TAG Heuer Porsche Formula E Team.

The NFT-sized cars will be minted on the Binance Smart Chain and auctioned off. 

This synergy between Formula E, Binance, and Animoca Brands reinforces the link created between the world of sports and cryptocurrency/blockchain. 

The partnership is not too casual either. The Formula E, in fact, reproduces the cars of the most famous Formula 1 but in an electric version and therefore environmentally sustainable. Binance, for its part, has aimed to create a blockchain, the Binance Smart Chain, which stands out for its reduced environmental impact, and this characteristic of eco-sustainability unites them. 

Together with Animoca Brands, they will bring Formula E to the world of NFT, looking for a new way to engage fans. 

Some say the NFT hype is waning. In reality, NFTs have found their natural habitat, long before the hype, in the world of gaming and sports. Cryptokitties prove it, and so do games like Sorare’s blockchain-based fantasy soccer, which has transformed the sticker exchange and classic fantasy soccer into an online game with the guaranteed uniqueness and exclusivity of collectibles. 

The edition of Formula E High Voltage by Animoca Brands and Binance goes in the same direction, proving that NFTs are not at all in crisis and, on the contrary, are proving increasingly useful to engage the public. 

 

Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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